Insights into Behavioral Economics
What does Behavioral Economics entail?Behavioral economics is a fascinating field that blends insights from psychology and economics to explore how people really behave in economic contexts, as opposed to how they are traditionally expected to behave based on classical economic theory. Traditional economics posits that individuals are rational actors who make decisions purely based on a cost-benefit analysis. However, real-world decisions often deviate from this model due to various psychological factors and biases.The Beginnings and Evolution of Behavioral EconomicsThe field of behavioral economics gained significant recognition in the late 1900s, spurred by the efforts of trailblazers including Daniel Kahneman and…






