George Loewenstein

Economics and the Brain: How People Really Make Decisions in Turbulent Times | Neuroscience News

In a 2008 paper on neuroeconomics, Stanford economist George Loewenstein said: “Whereas psychologists tend to view humans as fallible and sometime even self-destructive, economists tend to view people as efficient maximisers of self-interest who make mistakes only when imperfectly informed about the consequences of their actions.” This view of humans as completely rational – and … Continue reading →