The field of ________,in which researchers construct and test specific hypotheses regarding departures from neoclassical rationality.

Question

Quizplus · Accepted Answer

Behavioral economics is the field in which researchers construct and test specific hypotheses regarding departures from neoclassical rationality. This field takes into account the psychological, emotional, and social factors that influence decision-making, which classical and neoclassical economics do not consider. Game theory is a subfield of economics that analyzes individuals' strategic behavior, while classical and neo-classical economics are based on the fundamental principles of supply and demand.

The Field of ________,In Which Researchers Construct and Test Specific