Excellent Introduction to Behavioral Economics

Great post but I don't agree with much of the criticism since its too premature and frankly the alternatives sucks. Also the call the hone behavioral economics which is still in it's infancy is simply not prudent - one step at a time.

"Real people are susceptible to cognitive biases that can lead to poor decisions. It’s only natural to want to help them make better choices.

But no one is immune to bias. Not social scientists, and certainly not policymakers. In translating behavioral science into policy, we may be led astray by the very same cognitive defects we wish to correct. New paternalist policies, and indeed the intellectual framework of new paternalism itself, create a serious risk of slippery slopes toward ever more intrusive paternalism.

Instead of a paternalism-generating framework, I recommend a slope-resisting framework — one that stresses private options and opportunities for self-correction, and that emphasizes important distinctions such as public vs. private and coercive vs. voluntary. That doesn’t mean we will never adopt any new paternalist policies. But if we do, we will hopefully stand a better chance of not slipping down the slope."