Posts Tagged ‘automatic response systems’

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Behavioral Economics: Better than a Psychiatrist

    Dec 3, 12 • 283 Views • Behavioral Economics, Businesses, Economic Thinkers, Education, Government, Health Care, Households, Innovation, Labor, Thinking Economically, UncategorizedNo Comments

    After reading Murder at the Margin, some of my students suggested in essays that we do not need a psychiatrist to explain human behavior. Instead, just ask a behavioral economist. Let’s give it a try… Defaulting: In life, we tend to take the