Traditional Economics Prevails as Behavioral Economics Fails to Disrupt Mainstream Thinking
Behavioral economics doesn't offer much new to traditional economics. It talks about how people make decisions based on limited information, but these ideas are mostly just rebranded versions of what we already know. Behavioral economics focuses too much on criticizing traditional economics' assumptions, which are just simplifications of real-life situations. Traditional economics aims to explain and predict real-world behavior, while behavioral economics gets caught up in theoretical assumptions. This means that behavioral economics isn't likely to replace traditional economic thinking anytime soon.