Institutional economics and behavioral economics

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Both Veblen on one hand and Kahneman and Tversky oon the other hand challenged standard neoclassical notions of rationality. Explain the similarities and differences between Institutional Economics (Veblen) and Behavioral Economics (Kahneman and Tversky). Which presents a more fundamental challenge to neoclassical economics? Explain.

Reference no: EM131392093

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