Abstract
Behavioral economics is an interdisciplinary field that combines insights from psychology and economics to explain and predict consumer behavior in economic decision-making. This article provides a concise overview of the definition and importance of behavioral economics, exploring its core concepts such as bounded rationality, heuristics and biases, and prospect theory. It also examines the impact of emotional and social factors on consumer decisions and discusses practical applications of behavioral economics in marketing and public policy. Finally, the article summarizes key points and looks ahead to future directions in the field.
Published Version (
Free)
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Global Economics and Management
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
