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The Republic Of Choosing: A Behaviorist Goes To Washington, William H. Simon
The Republic Of Choosing: A Behaviorist Goes To Washington, William H. Simon
Faculty Scholarship
Cass Sunstein’s book Simpler recounts the author’s efforts during his tenure in the first Obama administration to apply the policy tools he helped derive from behavioral economics. In this review, I suggest that, while Sunstein reports some notable achievements, he exaggerates the utility of the behaviorist toolkit. Behaviorist-inspired interventions are marginal to most of the largest policy problems, and they played little role in the Obama administration’s most important initiatives. The book also reflects a misguided political strategy.
The Theory Of Minds Within The Theory Of Games, Mathew D. Mccubbins, Mark Turner, Nicholas Weller
The Theory Of Minds Within The Theory Of Games, Mathew D. Mccubbins, Mark Turner, Nicholas Weller
Faculty Scholarship
Classical rationality as accepted by game theory assumes that a human chooser in a given moment has consistent preferences and beliefs and that actions result consistently from those preferences and beliefs, and moreover that these preferences, beliefs, and actions remain the same across equal choice moments. Since, as is widely found in prior experiments, subjects do not follow the predictions of classical rationality, behavioral game theorists have assumed consistent deviations from classical rationality by assigning to subjects certain dispositions— risk preference, cognitive abilities, social norms, etc. All of these theories are fundamentally cognitive theories, making claims about how individual human …