Rethinking Economics: How Human Behavior Shapes Our Economic World
Behavioral economists believe that human behavior is influenced by more than just economic factors, including preferences, knowledge, and psychological constraints. They argue that traditional economic theory doesn't fully account for human emotions and attitudes. A group of experts from various fields have come together to revise traditional economic models to better reflect human behavior. Their goal is to create a more rigorous analytical model that can be applied to economic and legal issues.