[benrpeters]

This article reminded me of my undergrad econ classes. I understand that it was just undergrad and we were learning a basic tool set. But it seriously scares me when I remember how my classmates and I (some of whom are on Wall St) took class after class that drilled supply/demand graphs premised on rational, utility maximizing populations into our heads. Whether the theories in this article are oversimplified or not, they do provide an important counterweight against anyone who thinks that they can reliably predict people's decisionmaking. I hope econ textbooks are evolving to reflect the growing marriage between econ and neuropsych.