Can Human Behavior Bring Economic Growth
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Introduction Nowadays, human is experiencing high technology stage. Can human apply AI technology to help us to predict when economic growth or recession will come in this year or next year? Behavioral economics is the combination of psychology and economics that investigates what happens in markets in which some of the agents display human limitations. However, surely all of economics is meant to be about the behavior of economic agents, be their firms or consumers, suppliers or demanders, bankers. Economics traditionally conceptualizes a world populated by calculating, unemotional maximizers...
Introduction Nowadays, human is experiencing high technology stage. Can human apply AI technology to help us to predict when economic growth or recession will come in this year or next year? Behavioral economics is the combination of psychology and economics that investigates what happens in markets in which some of the agents display human limitations. However, surely all of economics is meant to be about the behavior of economic agents, be their firms or consumers, suppliers or demanders, bankers. Economics traditionally conceptualizes a world populated by calculating, unemotional maximizers. If it is true, it brings these questions: Why technology bring economic growth? How technology bring economic growth? I shall attempt to indicate cases to answer these two questions to let readers make judgement. Behavioral economics is the combination of psychology and economics that investigates what happens in markets in which some of the agents display human limitations. However, surely all of economics is meant to be about the behavior of economic agents, be their firms or consumers, suppliers or demanders, bankers. Economics traditionally conceptualizes a world populated by calculating, unemotional maximizers. Hence, their minds bring this question: Can human behavior influence social economic growth or recession? I shall attempt to apply human psychology and economic theory to explain this question to let readers can understand.
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