3 Review(s)

This book argues that human behavior is a critical driver of economic outcomes, often leading to economically irrational decisions that deviate from the traditional economic assumption of individuals always making purely rational choices Bridging the Gap My work aims to bridge the gap between traditional economic theory, which often assumes rational actors, and behavioral economic theory, which acknowledges the influence of psychological factors . My view investigates how businesses can leverage behavioral economic insights and AI technology to achieve long-term cost efficiency . By understanding the fundamental influences and principles of behavioral economics, including cognitive biases and the contrast between traditional economic assumptions and the reality of human decision-making, individuals and organizations can gain practical strategies for navigating economic landscapes . In essence, Lok's analysis suggests that while technology offers immense potential for economic advancement and efficiency, its integration into society profoundly impacts human behavior, which in turn shapes the overall economic trajectory