Democratizing Behavioral Economics - with Prof. Daniel Markovits (Yale)

This podcast episode explores the challenges of traditional economic theories and introduces the concept of behavioral law and economics. It discusses the limitations of rational and self-interested models in explaining human behavior and highlights the importance of incorporating insights from psychology and other social sciences. The episode also raises concerns about the potential for behavioral law and economics to lead to paternalism. The speakers propose an alternative approach that empowers individuals to make informed decisions by educating them about their biases. They emphasize the importance of self-reflection and self-awareness in overcoming biases and achieving greater freedom and deliberation.