3 Review(s)

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences. Behavioral economics is a field of study aimed at understanding why people make economically irrational decisions. Rational choice theory holds that consumers make choices that maximize their utility. In reality, people can be swayed or distracted from doing so. 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.In my this book, I shall indicate social and organizational cases to explain behavioral economic concept may help our social and organizational improvement.