Many economists believe that the neoclassical theories of human behavior and the insights being accumulated in behavioral economics are basically

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Neoclassical theories focus on rational choice and optimizing behavior, while behavioral economics incorporates psychological insights into economic decision-making, showing how actual human behavior often deviates from the rational model. Despite these differences, many economists view these perspectives as complementary because they can be combined to provide a more complete understanding of human behavior in economic contexts.

Many Economists Believe That the Neoclassical Theories of Human Behavior