a personal blog
Musings of a grad student interested in behavioral econ — learning to master what the field excels at, before trying to predict the irrational.
For a long time, the dominant economic models operated under the assumption of Homo Economicus – that perfectly rational, self-interested agent whose sole motivation is maximizing their own utility, usually through consumption. Reciprocity? Fairness? In-group loyalty? These weren’t really part of the core model. It was a clean, elegant framework, great for certain predictions, but…