Would IOET Make Economics More Neoclassical or More Behavioral? Richard Thaler’s Prediction, a Revisit
Shu-Heng Chen AI-ECON Research Center, Department of Economics, National Chengchi University, Taipei, Taiwan
Abstract
This chapter provides an economic study of the Internet of Everything (IoE). The fundamental question pursued by us is the impact of IoE on economic theory, specifically, the rationality of individuals in economic theory or in the history of economic analysis. To this end we examine individuals in the era of conventional economic theory in contrast to individuals in the era of the IoE. This comparison motivates us to sketch the future of individuals in economic theory. Two decades ago the Nobel Laureate Richard ...
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