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plumcamel750Lv1
28 Sep 2019
Microeconomics has traditionally been built on the foundation of rational choice. However, since the 70's insights from blending psychology and economics have been changing the landscape. Some have argued this new line of thinking, most often associated with behavioral economics, has laid waste to the micro model of choice.
To what extent does the rational choice model have a future? Can it absorb the new insights from behavioral? Do you think we will have two competing models of choice going forward?
Microeconomics has traditionally been built on the foundation of rational choice. However, since the 70's insights from blending psychology and economics have been changing the landscape. Some have argued this new line of thinking, most often associated with behavioral economics, has laid waste to the micro model of choice.
To what extent does the rational choice model have a future? Can it absorb the new insights from behavioral? Do you think we will have two competing models of choice going forward?
Kritika KrishnakumarLv10
28 Sep 2019
