L1. Rationality, Irrationality, and Rationalization
Schema della sezione
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If economics is the study of how scarce resources are allocated given unlimited wants, behavioral economics may be said to focus more specifically on how scarce decision resources are allocated. Standard microeconomic modeling supposes that people make decisions with the sole purpose of making themselves better off. Behavioral economics often focuses on how people systematically deviate from the best possible decisions and what it will mean for the allocation of scarce resources. Behavioral economics is the study of how observed human behavior affects the allocation of scarce resources.
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