Behavioral economics is the combination of economics and psychology that studies the effects of emotional, psychological and social factors upon the economic decisions of people or institutions.
Measures of Central Tendency: Mean, Median and Mode
Behavioral Economics
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Behavioral Economics
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Definition
Behavioral economics is the combination
of economics and psychology that studies
the effects of emotional, psychological and
social factors upon the economic
decisions of people or institutions.
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Prevalent themes in behavioral
finances:
• Heuristics
• Framing
• Market inefficiencies
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Behavioral game theory
Behavioral game theory looks to
understand how individuals actually
behave in strategic situations through the
use of experimental settings.
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