"...Ridiculous" Ep. 1: Beyond Anomalies
Opinion Science
Challenging Rational Economic Theories
The chapter explores the unexpected impact of a program encouraging savings from tax refunds, defying traditional economic expectations. It traces the evolution of behavioral economics through the work of Richard Thaler and Herb Seiben, highlighting the importance of understanding human psychology in economic decision-making. The discussion on bounded rationality challenges classical economic assumptions, emphasizing the gap between economic models and real-world behavior.
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