This is a very good point that is often overlooked. Many “irrational” actions may actually be much more rational when interpreted a differently way. For example, loss aversion is totally rational since money has diminishing marginal utility. (And studies have mostly disproven loss aversion with small amounts)

Another issue with experiments is that they are not realistic scenarios. For example, in the Economist experiment no one actually paid any money. Which makes it basically worthless. We’ve often found in economics research that what people say they will do and what they actually do is very different. Moreover, studies only find that some % act irrationally but then it’s reported as if everyone did.

Now obviously humans are not totally rational, but it does us a disservice to act as if we are so terrible at decisions all of the time.