Behavioral economics involves the use of _____.
A) Economic principles to describe and analyze behavioral choice
B) Economic factors to predict animal behavior
C) Economic indicators when pigeons are trading goods and services
D) Economic satisfaction due to reinforcement

Question

Quizplus · Accepted Answer

Behavioral economics combines insights from psychology with economic theory to explain why people sometimes make irrational decisions, and how their behavior does not always follow the predictions of traditional economic models. It uses economic principles to describe and analyze how and why people make certain decisions, including those that appear to deviate from rational choice theory.

Behavioral Economics Involves the Use of _____