A Research Study On Behavioral Economics - 1956 Words

The specific area of interest I focused on for this assignment is Behavioural Economics. Behavioural Economics (BE) is a scientific discipline that involves the study of a variety of effects on the economic decisions made both by institutions and individuals (Lunn, 2014). This is a dynamic and exciting field and sub-discipline within the field of economics that has gained much popularity in recent years. Behavioural economists have the opportunity to make important contributions in a variety of fields, including marketing and advertising, policy making, and in many other industries. In this essay, I discuss the field of Behavioural Economics and explore current trends and important knowledge helpful for anyone interested in a future career in this area. It is argued that Behavioural Economics is far more than a passing trend and will only grow in importance, particularly in public policy making; at the same time, researchers in the field need to start addressing some of the theoretic al and conceptual problems in the field if BE is to truly realize its potential. Key Findings At its heart, BE is about helping make economic theory more capable of explaining economic behaviours and decisions by providing more realistic foundations in psychology (Camerer Loewenstein, 2004). The considerable popularity the field has gained in recent years has prompted questions regarding whether it is a passing trend, or a field with lasting influence for a variety of industries and areas ofShow MoreRelatedFamily Structure Changes And Child Behavior Problems Essay1444 Words   |  6 PagesThere is a common misconception is that children who grow up in low income families end up being more susceptible to experience behavioral problems as they get older, in contrast to that of high income families which generally speaking, people believe children are better off. The report Associations between Family Structure Change and Child Behavior Problems: The Moderating Effect of Family Income challenges the false impression associated with low income families. The analysis was conduct ed by threeRead MoreThe Parental Questionnaire And The Behavior Assessment System For Children913 Words   |  4 Pagesconduct problems. 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