Hi! I'm gonna write a report about behavioral economics. So, would u recommend some useful websites about it and methods used to study behavioral economics? Thank so much!
2006-08-20 15:59:37 · 8 answers · asked by J.Y. 1 in Social Science ➔ Economics
I like the simple way that investopedia puts it:
Behavioral Economics is a field of economics that studies how the actual decision-making process influences the decisions that are reached. The two most important questions in this field are:
1. Are the assumptions of utility or profit maximization good approximations of real behavior?
2. Do individuals maximize subjective expected utility?
I posted some links that may be useful
2006-08-22 05:42:13 · answer #1 · answered by Aldo 4 · 0⤊ 0⤋
it's when you apply methods, models, and concepts employed in economics to describe how people behave. For example, the concept of markets has been applied to marriage resulting in the concept of a marriage market. It pretty realistically describes things like why an educated individual is more likely to marry another educated person or at what point someone might decide to 'settle.' In this case, the 'market price' isn't dollars but the characteristics of a person that determines their 'market value.' Behavioral economics has also been used to describe the separation of household duties between the husband and wife, the decision to have children, etc. I see that others find psychology superior to economics (even in the realm of economics apparantly) but instead of viewing it as either superior or inferior I think it offers a very interesting alternative view of human behavior.
2006-08-21 04:53:48 · answer #2 · answered by Korinne 1 · 0⤊ 0⤋
Behavioral finance and behavioral economics 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.
Behavioral analyses are mostly concerned with the effects of market decisions, but also those of public choice, another source of economic decisions with some similar biases.
2006-08-21 06:25:18 · answer #3 · answered by Apollo 7 · 0⤊ 0⤋
You cant fairly get jobs with only a masters in psychology, you fairly want a phd except you intend to artwork in a college in the destiny (thats what i'm doing myself in the present day as a academic professional in psychology). I dont comprehend a lot about the beh. economics- so cant talk to that, yet which will be an problem as far as jobs and also pay.
2016-11-26 20:40:56 · answer #4 · answered by ? 4 · 0⤊ 0⤋
It's economics admitting that the minute they strayed from math the field becomes completely useless. To determine how markets will act psychology has them beat 8 ways to sunday.
2006-08-20 16:10:19 · answer #5 · answered by kazak 3 · 0⤊ 0⤋
it is the combination of psychology and economics.
2006-08-20 18:14:11 · answer #6 · answered by Peace 2 · 0⤊ 0⤋
Oh my God,I am too bad at it.
2006-08-20 18:01:22 · answer #7 · answered by khan a 4 · 0⤊ 0⤋
you got me...
2006-08-20 16:54:29 · answer #8 · answered by FusionQ 2 · 0⤊ 0⤋