Learning Behavioral Economy
John Lok
Broschiertes Buch

Learning Behavioral Economy

edition 2

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What influences behavioral economics? Behavior economics is influenced by bounded rationality, an architecture of choices, cognitive biases, and herd mentality. Behavior economics is crafted around many principles including framing, heuristics, loss aversion, and the sunk-cost fallacy. Do economists assume that people behave rationally? Economic actors are assumed to be self-interested and "rational," meaning that people generally make logical decisions that produce the best outcomes for themselves. I believe that human behavior may influence economic development or recession. Economics and hu...