Ep. 109 LIVE from the Contra Cruise: Do People Behave the Way Economists Predict?
Krugman is a fan of Richard Thaler, winner of the Nobel Prize in economics, and speaks in favor of Thaler’s argument that real people often don’t act like the calculating robots of neoclassical lore. Thaler is right about that, but we’ve got a bunch of punchy responses to his more dubious claims — responses that are all the more fun to listen to because delivered before a live audience aboard the Contra Cruise!
Krugman Blog Post
“Rationality and Rabbit Holes” (October 10, 2017)
Related Episode (Tom Woods Show)
Ep. 1021 The Nobel Prize and Behavioral Economics: Anything Here for Austrians? (Gene Epstein)