Thaler’s work has laid the foundation for a new understanding of economics that incorporates psychology. The future of the field lies in further exploring how human behavior deviates from rationality and finding ways to improve decision-making.
“Behavioral economics is not just a branch of economics; it’s a new way of understanding human behavior.”
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Richard Thaler’s *Misbehaving* reveals how human quirks and irrational behaviors challenge traditional economics, paving the way for behavioral economics.
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Similar ideas to Future of Behavioural Economics
It is a field of study bringing together knowledge from psychology and economics to reveal how real people behave in the real world.
There is a division in psychology that looks at human and animal behavior, that division is called behaviorism. This theory assumes that every single behavior done is a response to environmental stimuli.
With this understanding, behavioral geography is see...
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