Behavioral economics

Behavioural economics views humans as irrational and emotional beings who are influenced by biases and experience when making decisions.

Behavioral Economics is the study of psychology as it relates to the economic decision-making process by individuals and institutions. #behavioraleconomics #decisionmaking #humanpsychology #mentalhealth #mentalhealthawareness #mentalwellness

The 34 best behavioral economics books to help you create impactful solutions and products by understanding how people actually behave.

I came across an interesting graphic which shows how several of the topics in behavioral economics are grouped together. Biology often employs a similar charting technique to show groups of species…

Human behavior is remarkably complicated. And yet, just as Newton's laws of motion distill three fundamental truths about the physical world, the three laws of human behavior describe three fundamental truths of human behavior: People tend to stick to the status quo unless the forces of friction or fuel push us them off their path; behavior is a function of the person and their environment; every decision includes tradeoffs and the potential for unintended consequences.

Traditional economics views humans as robotic machines who make calculated decisions based on logic. In contrast, behavioural economics views humans as irrational and emotional beings who ar…

I’m honoured to have an article in this month’s MPI One+. A quick recap of the article can be found below.

Rational Choice Theory is used to understand the social and economic behaviors of the individuals. According to the Rational Choice Theory, human beings are prompted by their own goals and preferences.