I happened upon an interesting article in the American Behavioral Scientist which gave me new insights. I recommend it highly to you.

Behavioral Economics: Toward a New Paradigm

by Amitai Etzioni (George Washington University)

http://icps.gwu.edu/files/2011/09/Beh-Ec-New-Paradigm.pdf

American Behavioral Scientist 55(8) 1099–1119

Abstract
This article discusses the challenges behavioral economics poses for neoclassical economics
and the ways in which the young field may move forward. After reviewing some of
behavioral economics’ accomplishments and the responses to these accomplishments,
the article asks whether its findings can be incorporated into the neoclassical paradigm
and suggests additional steps behavioral economics may consider undertaking in order
to expand its reach.