How Scrutiny and Iteration Made Behavioral Economics Better
https://www.chicagobooth.edu/review/how-scrutiny-iteration-made-behavioral-economics-better"However, direct
#replicability should not be confused with
#generalizability or universality. While the basic patterns of behavior documented in the original experiments reliably show up in subsequent replications, their magnitudes can vary substantially across contexts. Loss aversion might be stronger in some settings than in others. Understanding this variation has become a central focus of contemporary behavioral economics research. Rather than viewing such
#heterogeneity as a challenge to the field’s foundations, researchers increasingly see it as a source of insight into the underlying psychological mechanisms driving behavioral anomalies."
#BehavioralEconomics