Behavioral Economics: An Exploration into Irrationality

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Authors
Moaddel, Payvand
Issue Date
2011
Type
Thesis
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en_US
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Abstract
Classical economics is based on the assumption of human rationality. Behavioral economics finds this supposition unrealistic and attempts to create better economic models, theories and predictions through a stronger psychological understanding of human behavior. This paper attempts to collect a series of theories, experiments and models to provide a brief overview and introduction to the field behavioral economics.
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30 p.
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