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Tuesday, April 21, 2009

SOCIAL PSYCHOLOGY VS. ECONOMICS' FOCUS ON RATIONAL CHOICE

Today's 2nd Buggy Topic

Daniel Kahneman, a social psychologist, won the Nobel Prize in economics in 2002.  For decades, he and his colleagues ---- especially another Israeli-born social psychologist (Amos Tversky), and later several economists --- showed through a variety of experiments that humans don't behave in conformity with rational-choice theory, a finding that conflicts with much of micro- and macroeconomic theorizing.  Click here for a lengthy buggy commentary on his achievements, including their utility in prof bug's own field --- international relations, and especially in military policies and arms control. 

Not the testy tone used by most of the other posters in the thread.