Good news! Behavioral economics is not going away anytime soon

The purpose of this paper is to defend the fast emerging field of behavioral economics which, like marketing, does not require that consumers be rational and, also like marketing, draws on multiple disciplines to answer research questions on consumers' economic behavior.

The paper presents recent work showing how behavioral economists are posing interesting and significant questions and answering them in novel ways.

The basic finding is that behavioral economics has already developed a rich research tradition. It has made a major contribution to understanding economic behavior. It will not soon disappear.

The value in this paper is in demonstrating that there are multiple approaches to understanding consumers' pricing behavior.