Behavioral economics
A) is the least controversial field of economics.
B) involves people separating small losses from large losses.
C) uses the results of psychology experiments to apply to models of individual decision-making.
D) uses the result of sociology observations to apply to models of individual decision-making.
E) is the most controversial field of economics.

Question

Quizplus · Accepted Answer

Behavioral economics uses insights from psychology experiments to understand and model individual decision-making. This can include exploring how cognitive biases and heuristics influence people's choices, as well as how emotions and social norms play a role in economic behavior.

Behavioral Economics