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gimpei78

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I know I'm being pedantic, but where is the game theory? The threat of campaign spending as a device to induce a more optimal equilibrium? If that's the case everyone uses game theory, no?

Economist here. Not quite sure what he's talking about as there are a ton of Behavioral Economists around and growing. Since he is a Macroeconomist I imagine he is expressing "surprise" that there aren't really any Macroeconomists that are Behavioral Economists. This isn't so surprising when you realize that the insights from Behavioral Economics undermine the basic approach to Macro since the seventies. The reason there aren't any behavioral Macroeconomists is that the old guard won't let them in, because it would involve throwing all their ideas where they belong, the trash. This sort of delusional thinking is what you would expect from someone who believes you can take one highly unrealistic model of an individual, multiply it by a million and call that the "microfoundations" of an economy.