Irrationally Rational – From Adam Smith and Amos Tversky to the New-Wave of Nudges
OnlineNudge, nudge, wink wink. In this Dead Economists Society Salon Bronwyn Williams and Peter Isztin discuss all things behavioural economics, and "libertarian" paternalism. "Smith is often remembered for the concept of an “invisible hand” that guides an overall economy to prosperity if each individual makes their own self-interested decisions—a key concept in classical and neoclassical…