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 Originally Posted by wufwugy
Psychology is fine, but it's not the same as economics.
Didn't Tversky and Khaneman basically blow up some economic ideas with research in psychology? I don't remember the details, but I thought it had to do with people not being able to be rational even if they tried (or something like that). Something about them making poor decisions about risk/reward depending on how the question was framed.
I could have that wrong though. It might be someone else or something else.
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