Criticisms of behavioural economics Critics of behavioural economics offer several arguments against the application of behaviour economics to public policy. ...
Paternalism and public policy Problems associated with bounded rationality and bounded self-control have led many behavioural economists to conclude that ...
Bias, banking and financial purchases According to behavioural economists, financial decisions are likely to be subject to decision making bias. ...
Social norms Social norms affect individual behaviour and choices. A norm is a pattern of behaviour that is widely accepted ...
Decision making bias Heuristics Behavioural economist, Herbert Simon, argued that, when faced with complex decisions, individuals (using System 1 thinking) ...
Bounded rationality and self control Bounded rationality Herbert Simon, writing in the 1950s, pioneered the idea that individuals, faced with ...
Decision making systems Following the lead of Nobel Prize winner, Daniel Kahneman, behavioural theorists often use the two systems model ...
Introduction to behavioural economics Behavioural economics attempts to understand the effect of individual psychological processes, including emotions, norms, and habits ...