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What is Behavioral Economics: Your Quick Guide

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What is Behavioral Economics: Your Quick Guide

“Formalized and developed by a recent Nobel Prize winner Richard Thaler, the theory of behavioral economics investigates how different psychological, social, and cultural factors impact our decisions and reflect in respective economic outcomes.

Some of the key question this theory looks into are as follows:

  • What are the psychological motivations that might prompt someone to choose a specific investment option over another?
  • Why do people frequently fail to make what would seem to be rational decisions when viewed by outside observers?
  • How does a person’s cultural or social background influence their day-to-day decisions?”



Posted on: March 24, 2020, 6:30 am Category: Uncategorized

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