3min chapter

Clearer Thinking with Spencer Greenberg cover image

Taking pleasure in being wrong (with Buck Shlegeris)

Clearer Thinking with Spencer Greenberg

CHAPTER

The Importance of Factual Knowledge in Behavioral Economics

When you're trying to model the way people behave, you've got this bottom up and top down, different way of doing it. I like to try to approach it at both ends. But I do see your point that if you start at the top down of like assume rationality, sometimes that will just fully explain the thing. And then you're like, oh, okay, that's why this thing exists because even rational agents would behave this way. It may seem like a strange behavior, but it's actually makes perfect sense when you think about it.

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