John Stuart Mill,
By a mighty effort of will,
Overcame his natural bonhomie
And wrote 'Principles of Political Economy.'
— Edmund Clerihew Bentley
Economists have developed sophisticated methods — game theory, experiments, econometrics — for examining behavior but often make simplistic assumptions about human nature. Psychologists typically use less fancy methods but entertain a richer description of man. Behavioral economists attempt to combine sophisticated methods with richer descriptions of man. The Institute for Behavioral Economics (IBE) supports related research and teaching endeavors.
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