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Again psychological economy got a Nobel Price. I am a fan of Kahneman and all the others like Tversky, Slovic and last but not least Thaler – and all the others I do not remind in the first second. What happens lately from my personal point of view is, that in contrast to the founders of psychological economy, today behavioral economics comes along as a white knight of science. Kahneman et al. wanted to widen the economical behavioral concept to get better explanations on an aggregate level. This is still the extraordinary advantage of economy to ignore individuality and find…
