People believe what they want to believe

What are Motivated Beliefs?

“Motivated beliefs” is a relatively recent development economics which offers a position between traditional assumptions of rational and purposeful behavior and the conventional approaches of behavioral economics. It is introduced and explored in a symposium in the Summer 2016 Journal of Economic Perspectives. Nicholas Epley and Thomas Gilovich contribute an introductory essay in “The Mechanics of Motivated Reasoning.” Roland Bénabou and Jean Tirole have written: “Mindful Economics: The Production, Consumption, and Value of Beliefs.” ….[READ]

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