3 Review(s)

John Lok's perspective, as presented in "Behavioral Economy Theory," posits that behavioral economics (BE) combines elements of economics and psychology to understand real-world human behavior, differing from neoclassical economics by acknowledging biases and using psychological experimentation to develop theories on decision-making . My work also explores how social change influences human behavior, how technology impacts behavioral and economic development, and the reciprocal relationship between human behavior and the economy . However, alternative perspectives and a broader academic consensus reveal a more nuanced and integrated relationship between behavioral economics and social psychology, often viewing behavioral economics as an interdisciplinary field that heavily draws upon social psychology's insights rather than a distinct entity with a separate relationship to it.