• Corpus ID: 16212014

Foundations of Behavioral and Experimental Economics :

  title={Foundations of Behavioral and Experimental Economics :},
  author={Daniel Kahneman and Vernon L. Smith},
Until recently, economics was widely regarded as a non-experimental science that had to rely on observation of real-world economies rather than controlled laboratory experiments. Many commentators also found restrictive the common assumption of a homo oeconomicus motivated by self-interest and capable of making rational decisions. But research in economics has taken off in new directions. A large and growing body of scientific work is now devoted to the empirical testing and modification of… 

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