Behavioral Economics: Understanding the Psychological Factors Driving Economic Decisions
DOI:
https://doi.org/10.63075/pjssr.v2i1.12Keywords:
Behavioral economics, decision-making, cognitive biases, heuristics, bounded rationality, nudges, public policy, economic models, rational choice theoryAbstract
While traditional economics assumes that individuals make rational choices based on perfect knowledge and self-interest, behavioral economics challenges this assumption by incorporating insights from psychology. This article explores the field of behavioral economics, examining the psychological factors that influence economic decision-making and their implications for individual behavior, market outcomes, and public policy.
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Published
2023-06-30
How to Cite
Dr. Irfan Nooruddin. (2023). Behavioral Economics: Understanding the Psychological Factors Driving Economic Decisions. Policy Journal of Social Science Review, 2(1), 10–18. https://doi.org/10.63075/pjssr.v2i1.12
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