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Sunday, July 14, 2019

Gigerenzer: “The Bias Bias in Behavioral Economics,” including discussion of political implications — Andrew Gelman


Gerd Gigerenzer takes aim at Daniel Kahneman, Richard Thaler and Cass Sunstein for being uncritical and going too far. While not endorsing rational choice theory, he stresses that the truth lies between the extremes of rationality and irrationality and claims behavioral economics tends to over emphasize irrationality consequent on cognitive-effective bias. It's neither reason or all bias, either all or mostly, but a combination of rationality and irrationality.

Statistical Modeling, Causal Inference, and Social Science
Gigerenzer: “The Bias Bias in Behavioral Economics,” including discussion of political implications
Andrew Gelman | Professor of Statistics and Political Science and Director of the Applied Statistics Center, Columbia University

See also by Andrew Gelman

The butterfly effect: It’s not what you think it is.

The piranha problem in social psychology / behavioral economics: The “take a pill” model of science eats itself

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