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The Darwin Economy by Robert H. H. Frank

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PREFACE

BEHAVIORAL ECONOMICS HAS BEEN the economics profession’s runaway growth area of recent decades. Scholars in this area work largely at the intersection of economics and psychology. Much of their attention has focused on systematic biases in people’s judgments and decisions. As the late Amos Tversky, a Stanford University psychologist and a founding father of behavioral economics, liked to say, “My colleagues, they study artificial intelligence. Me? I study natural stupidity.”

In the early 1980s, I taught one of the first undergraduate courses in behavioral economics. Because few students had heard of this nascent field, my first challenge was to come up with a course title that might lure some to enroll. In the end, I decided to call it ...

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