ZALIS GLOSSARY: behavioral-economics
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
A field of economics that studies how the actual decision-making process influences the decisions that are reached.
Notes:
The two most important questions in this field are:
1) Are the assumptions of utility or profit maximization good approximations of real behavior?
2) Do individuals maximize subjective expected utility