What Is Behavioral Economics?
It studies psychological factors in decisions and how they differ from traditional theory.
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1.What does behavioral economics study?
It studies psychological factors in decisions and how they differ from traditional theory.
2.What is bounded rationality?
Because time and information are limited, we use mental shortcuts called heuristics (Herbert Simon).
3.What is loss aversion?
Roughly twice as much, in the median result of a later paper (Tversky and Kahneman 1992).
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Sources (6)
- Behavioral economics (Wikipedia)
- Prospect theory (Wikipedia)
- Data Colada [11]: "Exactly": The Most Famous Framing Effect Is Robust To Precise Wording (2013, aktualisiert 2020)
- Framing effect (psychology) (Wikipedia), Abschnitt Asian-Disease-Problem (Tversky and Kahneman, Science 1981)
- Eigene Rechnung: synthetisches Zwei-Versionen-Experiment (Marge
- Tversky, A. and Kahneman, D. (1981): The Framing of Decisions and the Psychology of Choice, Science 211(4481): 453-458 (Scan
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