The death of behavioral economics?

September 1, 2021

A widely discussed article The death of behavioral economics predicts an impending decline of the whole field, including behavioral models often recommended to freelancers — e.g. by experts like Dan Ariely and his books on personal finance.

Our take: The title is obviously an overstatement, but behavioral economics is in deep replication crisis indeed. Stars like Scott Alexander defend it. However, with the onset of machine learning, who knows if behavioralists’ simplistic claims have any future?

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