Like last week, this post is adjacent to the internet chattering over whether behavioral economics is “dead”.
Vernon Smith wrote a book Rationality in Economics that came out in 2008. I’m going to pull some quotes from that book that I think are relevant. This is not an attempt to summarize the main point of the book.
I began developing and applying experimental economics methods to the study of behavior and market performance in the 1950s and 1960s…
Preface, pg xiii
Repetitive or real-time action in incomplete information environments is an operating skill different from modeling based on the “given” information postulated to drive the economic environment that one seeks to understand in the sense of equilibrium, optimality, and welfare. This decision skill is based on a deep human capacity to acquire tacit knowledge that defies all but fragmentary articulation in natural or written language.
Preface, pg xv
I think…
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Utopia, you are standing in it! 
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