>>13655210A lot of behavioral econ experiments are replicable-- I did a game theory course and we had a 'lab fee' which we used to make the games have real stakes. We played many classic games (Prisoner's Dilemma (repeat and singular), auctions, centipede game, etc.)
Basically, behavioral econ is a refutation that humans are computers that are perfectly rational. Instead, we appear to have bounded rationality and we have asymmetrical value functions (as predicted by Kahneman's Prospect Theory). Although we're all irrational in different ways we have certain 'human' quirks that can be modeled for great justice.
