Assuming Quote by Evan Davis

One of the peculiarities of economics is that it still rests on a behavioral assumption-rational utility maximization-that has long since been rejected by sociologists…

— Lester Thurow

When you look at any experimental work not directly related to economics, but trying to test rational behavior in other ways, experiments have conspicuously…

— Kenneth Arrow

The lesson of my field, behavioral economics, is that we need to understand the ways in which we differ from the rational human assumed…

— Richard Thaler

“Standard economics assumes that we are rational... But, as the results presented in this book (and others) show, we are far less rational in…

— Dan Ariely

Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.

— Evan Davis

We are all far less rational in our decision-making than standard economic theory assumes. Our irrational behaviors are neither random nor senseless: they are…

— Dan Ariely

“It is telling commentary on economic orthodoxy that a whole subdiscipline--behavioral economics--and a raft of lab experiments are needed to show that humans often…

— Kaushik Basu

“One conceit of economics is that markets as a whole can perform fairly rationally, even if many of the participants within them are irrational.…

— Nate Silver

The good news is that, at least in economics, I've seen movement away from its overemphasis on mathematical models of purely rational behavior to…

— Robert J. Shiller

It is impossible to understand the economic system in which we are living if we try to interpret it as a rational scheme.It has…

— Edwin Arlington Robinson

How could economics not be behavioral? If it isn't behavioral, what the hell is it?

— Charlie Munger

It is true that from a behavioral economics perspective we are fallible, easily confused, not that smart, and often irrational. We are more like…

— Dan Ariely