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The Misconception of Behavioral Economics
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29:35 - 30:59 (01:23)

The idea that incentives explain everything, which is a prominent feature of Steven Levitt and Stephen Dubner's "Freakonomics," is a basic human behavior that is not unique to economists. The book uses anecdotes like the bagel example and designed algorithm to detect teachers who cheated on standardized tests to illustrate their point.

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