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Rationally Speaking Podcast
Rationally Speaking #219 - Jason Collins on "A skeptical take on behavioral economics"
Oct 15, 2018
55:51
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Economist Jason Collins discusses problems with behavioral economics: reliance of governments, suspicious number of cognitive biases, problematic 'nudges'. Also explores flaws in neoclassical economics, exploitation by marketers, limitations of naming biases, and concerns about pendulum swinging too far in favor of behavioral economics in policymaking.
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Quick takeaways
- Behavioral economics has overshadowed traditional economics in policymaking, neglecting important economic approaches.
- Naming biases gives the illusion of understanding but fails to explain underlying behaviors and context-dependent nuances.
Deep dives
Critique of the Dominance of Behavioral Economics in Policymaking
The focus and investment in behavioral economics has overshadowed traditional economics in policymaking, neglecting important economic approaches.
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