"Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors in the decisions of individuals or institutions."
The study of how people make decisions and how their behavior can impact the economy.
Decision-making under uncertainty: How people make choices when outcome probabilities are unknown or ambiguous.
Framing effects: How the way in which options are presented (framed) can influence decision-making.
Anchoring and adjustment: The tendency for people to use initial information (the anchor) as a reference point for making subsequent judgments or decisions.
Loss aversion: People are more sensitive to losses than gains, and typically need higher gains to offset potential losses.
Mental accounting: The tendency for people to treat money differently based on the source, timing, and form of the money.
Heuristics and biases: The mental shortcuts people use to make decisions that often lead to errors and biases.
Social preferences: How social norms, reciprocity, and fairness influence decision-making.
Nudges: How subtle changes to the environment or presentation of information can influence behavior without restricting options or imposing penalties.
Self-control: The ability to resist temptations and make choices that align with long-term goals rather than short-term pleasures.
Cognitive dissonance: The mental discomfort people experience when their beliefs or attitudes conflict with their behavior.
Prospect theory: A model of decision-making that accounts for the asymmetry between gains and losses, and the diminishing sensitivity to gains and losses as the magnitudes increase.
Behavioral game theory: The study of how people behave in strategic interactions, where the outcomes depend on the choices of multiple players.
"Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors in the decisions of individuals or institutions."
"Behavioral economics is primarily concerned with the bounds of rationality of economic agents."
"Behavioral models typically integrate insights from psychology, neuroscience, and microeconomic theory."
"The study of behavioral economics includes how market decisions are made and the mechanisms that drive public opinion."
"Behavioral economics began as a distinct field of study in the 1970s and '80s."
"Behavioral economics can be traced back to 18th-century economists, such as Adam Smith."
"Adam Smith deliberated how the economic behavior of individuals could be influenced by their desires."
"The breakthroughs that laid the foundation for it were published through the last three decades of the 20th century."
"The status of behavioral economics as a subfield of economics is a fairly recent development."
"Behavioral economics is still growing as a field, being used increasingly in research and in teaching." Note: Unfortunately, due to the available context, it is not possible to generate twenty unique study questions.