Behavioral Economics

Behavioral Economics

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)

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Home Page | History of Behavioral Economics | Basic Concepts | Stock Markets | Gambling and Stocks | Gambler's fallacy and Law of Small Numbers |Hunting for Homo Sovieticus: Situational versus Attitudinal Factors | Criticism of Behavioral Economics | Behavioral Economics: Sources

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