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Behavioral economics

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June 16, 2008, 06:12
<Asa Lovejoy>
Behavioral economics
I ran across this term recently. Would someone please explain its tenets?
June 16, 2008, 11:33
arnie
I can't but Wikipedia can.
quote:
Behavioral economics and behavioral finance are closely related fields which apply scientific research on human and social cognitive and emotional biases to better understand economic decisions and how they affect market prices, returns and the allocation of resources. The fields are primarily concerned with the rationality, or lack thereof, of economic agents. Behavioral models typically integrate insights from psychology with neo-classical economic theory.
See the entry here.


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