The Beginnings of Behavioral Economics

13

Conclusions

Abstract

I began this book talking about old and new behavioral economics, and two beginnings of behavioral economics. And there was the metaphor of the door. The old and the new groups do behavioral economics so different from each other that it is understandable that the new group would discount, overlook, or even neglect the old group. But there is that pesky sophisticated anthropomorphic sin, that this “sin” states that things, which look different, aren’t necessarily (all that) different. The chapter discussed the overlaps between the two versions of behavioral economics, the most important being the rejection of economic man, but also dual selves, herding behavior, gift exchange, and framing. Finally, it discussed X-Efficiency ...