Behavioral Economics: Difference between revisions
From Dickinson College Wiki
Jump to navigationJump to search
No edit summary |
|||
| Line 1: | Line 1: | ||
= Behavioral Economics = | = Behavioral Economics = | ||
<center> Economics traditionally conceptualizes the world according to the assumption that the entire population is comprised of equally informed, educated, and equity maximizing individuals (Homo Economicus). It is argued that behavioral and psychological insights could improve the understanding of economic decisions by: 1. Identifying way in which behavior differs from the standard Homo Economicus model, and 2. showing how this behavior manifests itself in economic terms (Mullainathan and Thaler 2) </center> | |||
{{Behavioral Economics Nav Bar}} | {{Behavioral Economics Nav Bar}} | ||
