Bedroom behavioural economics — now that would be a subject that might attract unseen numbers of readers and claps! Let me think about that

a lot of ‘Behavioural Economics’ strikes me as simply sold on purloined Psychology with a re-spray — stolen goods in fact

You are of course correct — the fact that Daniel Kahneman won the Economics Nobel as a psychologist says enough. Adam Grant wrote about his (real or pretend?) exasperation in this respect in this HuffPo article: “Why Behavioral Economics Is Cool, and I’m Not”

But allow me to add a nuance to that. I think what Psychology doesn’t always recognize, and Economics does, is that people’s choices implicitly or explicitly express a preference, which brings together the costs and benefits involved. We don’t always do this very well, we miss out stuff (that’s bounded rationality), and we are subject to self-control problems and cognitive biases etc (all that is psychology). But the underlying mechanism is that of a trade-off, and that is firmly an Economics concept. :-)

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Accidental behavioural economist in search of wisdom. Uses insights from (behavioural) economics in organization development. On Twitter as @koenfucius

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