system
Given the following post, respond as if you're commenting on Reddit:
human
Does economics still assume that people are perfectly rational or does it acknowledge that rational choice theory has shortcomings; it's just that we don't know how to fully interpret the (probably incomplete) information from behavioral economics to change the current models just yet?

One of the foundations of modern mainstream economics is the concept that people behave in the market as rational agents who choose what's best for their self-interest, but clearly, there are some goods and services that may still keep being demanded even if they're not in the best interest of the consumers. For blatant abuse, economists would say that the government can step in and regulate it, such as opioids and other drugs. However, there are some cases where the abuse isn't clear, such as companies that uses child psychology to better market their products to children, or social media features that keeps you hooked even though it has negative effects on your mental health.

It's fair to say that, sometimes, people are unable to weigh opportunity costs rationally. What's the current consensus in economics about all of these?
gpt
There are many papers and models in mainstream economics that analyze or take into account deviations from the rational benchmark. 

For example Daniel Kahneman and Herbert Simon are Nobel laureates in economics.  Kahneman was awarded the prize for his joint work with Tverski analyzing deviations from the expected utility model. Among other things, they are credited for prospect theory. Herbert Simon’s work in industrial organization had many behavioural features. Among other things, he is credited for the creation of search and satisficing models. 

Behavioural economists also has many applications. For example there is a literature in finance studying how nudges and reminders help people have more healthy use of credit. There is also a literature examining why people buy memberships to the gym that they never use. 

Recent empirical work on demand usually considers the fact that consumers have limited attention.

There is a large literature in game theory that considers people with limited memory.

So yeah, we teach perfectly rational consumers in core economics classes. But we often consider more general models.

There are for sure some professors and even departments that don’t like behavioural economics, but every top 10 department (MIT, Harvard, Berkeley, Stanford, Yale, Penn, Princeton, NYU, Columbia, Northwestern, Chicago) has large behavioural groups.