not eigen but i think levitt-style presentations of behavioral econ convinced a bunch of companies that there were free proverbial $50 bills on the ground w/ behavioral ec when the reality is that there are real insights there, they're just a lot more limited + less sexy
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"ohoho we demonstrated that some stylized axioms of behavior dont actually hold in ever situation in reality" yes we know everyone knows it doesnt matter
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i think not all of it is obvious ex ante + purely marginal - e.g. gautam rao's development/behavioral work is good at showing things like benefits to school programs/credit cards in developing countries hard to generalize but valuable by way of building consensus abt programs
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Replying to @decadantism @eigenrobot and
my levitt take is yeah he's obnoxious and it's annoying that he made a bunch of money without really contributing anything but maybe it got more people interested in economics and curious about incentives, which is probably on-balance good
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im pro-gatekeeping tho and this is a classic case in point a generation of economists has been wasted on this garbage
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glaeser once said something to the effect of "game theory is so mathematically clean that it attracts far too many economics, on balance, than should be studying game theory" i think this is certainly true about behavioral but think the hype by now has died down sufficiently
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yeah that's also true of game theory dead end econ should actually be doing scaled data work but instead everyone is wasting time p-hacking with more steps hate it
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Replying to @eigenrobot @decadantism and
there's incredible work going on but it's all proprietary oh well F
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i will dm you a cool project like this currently working on to try and restore the faith
there's a lot of good stuff going on still just many economists so hard to sift through the bad work1 reply 0 retweets 1 like
I'll try to remember to check the DMs
i appreciate it <3
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