Ever since I did a paper on 'Kahneman and Tversky' I was deeply fascinated by behavioral economics and I believe it is a field with so much potential for application. I think politicians more than economists ( economists have difficulty getting dates :-) ) can take lead in the application of Behv Econ in policy making and the micro understanding of human behavior can marry macroeconomics.
(The other field that has not taken off as hugely as it should have it Operations Research. OR and Behv Econ - mind and heart- linear and nonlinear- blah and blah).
I was wondering why there have not been much in the 'popular press' about it. In the span of a week I read through two really good ones - here and there.
Saturday, February 14, 2009
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2 comments:
Hat tip 'The Gold Standard' I found these two gems
http://www.wilmott.com/blogs/eman/index.cfm/2009/2/19/Do-Keynesians-Laugh-When-They-Tickle-Themselves
http://www.wilmott.com/blogs/eman/index.cfm/2009/2/12/Shocks-to-the-System
Amartya da feels the same
http://www.hindu.com/2009/02/22/stories/2009022260471200.htm
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