First, the growing catalog of cognitive quirks may lead behavioralists to hastily adopt “non-rational” explanations for otherwise rational behavior. Second, because their evidence seems to undermine the rationality assumption of Chicago school law and economics, behavioralists may improperly assume that their work also undermines that school's default policy prescription--i.e., laissez faire. Consequently, they may advocate inappropriately paternalistic government policies.
Thomas A. Lambert, Two Mistakes Behavioralists Make: A Response to Professors Feigenson et al. and Professor Slovic, 69 Mo. L. Rev. 1053 (2004)