Nobel Prize in Useful Paradoxes, or why paradoxes exist

The 2017 Nobel Prize in Economic Sciences delivered a zinger of a paradox. People’s behavior is predictably irrational. The wisdom that springs from it is known as behavioral economics and aims to systematize people’s actual behaviors rather than preconceived, idealized behaviors.

It’s proven useful for economics (thus the prize), and yet it’s counterintuitive (thus the prize).

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