Behavioral Economics

Love or money?
Love or money?

As human beings, we laugh and cry. Sometimes we seek revenge and at other times, forgiveness. Each of these behaviors is real, although they do not fit squarely within our standard economic models. To fold human behavior into economic analysis, we must turn to psychology for help. Behavioral economics is the field of economics that studies how human psychology influences the decision-making process.

Real World Examples

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What is Allais paradox?

Dirk Deciphers: The Allais paradox explain how risk tolerance changes ... more
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