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41 sats \ 18 replies \ @Undisciplined 8h \ parent \ on: MONEY CLASS OF THE DAY: Christmas Gifts Are Inefficient econ
You would bring rational self interest into the picture, wouldn't you? Classic economist.
If you consider it conditioning, then he would be a psychologist!
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No, "nudge theory" is part of modern econ, although it definitely overlaps with psych.
More importantly, though, is that he's suggesting a self-interested motivation for gift giving, which resolves all of the issues raised in the post.
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Hahahahaah... If I give a nice gift to my wife, I think there is a smidgen of self-interested motivation for gift giving!!! ;)
It would resolve all the issues raised by the post, indeed.
I absolutely despise that "nudge theory: and the way it is used. It is a way to force people to do what you wish using their desires to not get damaged or to get something. It is nothing more than sales technique, using the two greatest motivators: fear and greed!!
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Behavioral psychology, I mean economics
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*Behavioral psychology + a real theoretical framework + rigorous empirical techniques
There's a reason the Replication Crisis was so much worse in psychology than in economics:
- Economists throw spaghetti at the wall and see what stuck. Sure they do it more than once and write about the one they liked more.
- Psychologists throw spaghetti at the wall and pretend it supports what they wanted to say in the first place. Sometimes they just pretend that they threw the spaghetti.
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It goes differently if you use logic and a priori premises. It is not quite the same as spaghetti on the wall (Keynesianism).
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I’m describing what economists actually do, not what they should do.
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LOL! Ok, that I can understand. You never know which way to take these things. :)
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I didn’t tell my joke correctly
I was making fun of behavioral economics by Thaler
Ariely makes some interesting points
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Wasn't Ariely one of Francesca Geno's coauthors on one of her fraudulent studies? I wonder if he made a statement.
For some reason I never trusted Ariely, he seems like a smooth talker. I admit that my suspicions are entirely aesthetic
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The softer the social science, the more likely it is to be hokum.
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Oh, sorry. I thought they were all hokum and magic.
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I think your instincts about Ariely are correct
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I'm trying to make fun of both, but psychology is much worse, despite how bad econ can be.
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I think it depends on which school of economics you are thinking of and of which brand of psychology you are thinking of.
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I guess you can inject nuance into the discussion. This is the internet, though, so tread lightly.