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Behavioral Economics For Dummies® by Morris Altman, PhD

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Part I

Introducing Behavioral Economics: The Science of Making Real-World Choices

9781118089699-pp0101.eps

In this part . . .

Behavioral economics is about understanding how real people behave in real-world settings. In this part, I examine the role that assumptions play in developing robust economic theories and economic analyses.

I also discuss the role of the brain’s architecture in this part. The decision-making process and people’s choices are hugely impacted by how the brain is structured and how it evolves into adulthood.

Finally, I consider the role of incentives in motivating people’s behavior. In behavioral economics, as in conventional economics, economic incentives matter — the difference is that in behavioral economics, what affects people’s decision making is much more complex and nuanced.

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