The evolution of behavioral economics

Authors

  • Ziheng Zhang Author

DOI:

https://doi.org/10.61173/dnsnx491

Keywords:

Behavioral economics, Misleading information, Classical economics, Adam Smith

Abstract

Decisions can be impacted by various biases and misleading information. Classical economics, as suggested by Adam Smith, posits that everyone behaves rationally during economic activities to satisfy their best interest and utility. However, in reality, we may make decisions emotionally, whether ordering in a restaurant or investing in the stock market. In this context, behavioral economics began to emerge in the world of economics.

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Published

2024-01-03

Issue

Section

Articles