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Daily Archive April 17th, 2005

What is Behavioral Economics?

Filed in Encyclopedia
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BEHAVIORAL ECONOMICS: “Behavioral economics [applies] scientific research on human and social cognitive and emotional [patterns] to better understand economic decisions and how they affect market prices, returns and the allocation of resources. The fields are primarily concerned with the rationality, or lack thereof, of economic agents. Behavioral models typically integrate insights from psychology with neo-classical […]