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I wish there were more books or studies on how Economics is really a form of Psychology. It seems like the economic theories that delve into why humans do what
by FrustratedMonky 3y ago
I wish there were more books or studies on how Economics is really a form of Psychology. It seems like the economic theories that delve into why humans do what they do seem more 'real', or uncovering something about human nature that can be applied.
- NoboruWataya 3y agoIsn't that just behavioural economics?
- FrustratedMonky 3y agoYes, you are correct. Just doesn't seem to get much respect, or its findings integrated into wider Economic Theory. Or maybe it just takes time.
- suoduandao2 3y agogiven how hard it is to replicate studies in Psychology, maybe the 'rational economic actor' theory, while obviously wrong, still makes better predictions that any theory that more accurately models the humans involved? After all, one of the main things that makes real humans different from rational actors is our unpredictability.