>This provides concrete
>evidence that the pronounced cognitive biases emphasized in behavioral
>economics are to a large extent artifacts of unrealistic experimental
>conditions.
Hi Bryan,
Of course! That was the point of the theory all along. It would be useless for people
to develop decision heuristics that weren't useful in most situations. What I would
take exception to is your characterization of the experimental situations as
"unrealistic." "Uncommon" might be a better description. But, no matter how uncommon
the situations might be that doesn't mean that there aren't important real world
situations where decision anomalies bias judgement in ways that can be anticipated.
-- Bill
William T. Dickens
The Brookings Institution
1775 Massachusetts Avenue, NW
Washington, DC 20036
Phone: (202) 797-6113
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