Behavioural Economics (BE)
Behavioural Economics (BE) essentially studies the effects of social, cognitive and emotional
factors on the economic decisions of individuals and institutions and
the consequences for market prices, returns, resource allocations and
Using experimental and advanced empirical techniques, BE
identifies individual and group behaviours and social phenomena that are
not adequately explained by traditional economical analysis. As a
result, new models can be developed that are better able to explain
"irrational" economic behaviour.
These models draw on the basic
principles of game theory and incorporate aspects of emotions,
reciprocity, fairness, social capital, bounded rationality, etc.
BE is cross-disciplinary by its nature as it combines research findings across a wide range of scientific fields including psychology, sociology, medicine, and neuroscience.
- Behavioural Economics
- Behavioral Economics
- behavioral sciences
- behavioural sciences