Exploring the Legacy of Economist Merton Miller and Academic Interactions

 Behavioral Economics was using psychology to understand economics, but what did economists and psychologists think about their unexpected marriage? Slowly, this fledgling field weathered a flurry of criticism from both sides as it doggedly held onto data-driven ideas about economic decision-making. This tension epitomized a broader struggle within Behavioral Economics, which aimed to harmonize insights from both disciplines while challenging traditional economic paradigms.

Embark on a journey that wasn't always smooth sailing. Unearth the fundamental clash between economists and psychologists, revealing their contrasting views on empirical evidence and theory. From contentious debates over ownership to deliberations on what to name it, the path to integrating these fields was filled with unforeseen twists, turns, and triumphs.

• Economists push back to new behavioral approaches
• How psychologists fought for a seat at the table
• Where did the name “behavioral economics” come from?
• The benefits we gain from integrating disciplines and perspectives