Behavioural economics challenges traditional view of “homo economicus”

Once, behavioural economics was a fledgling challenge to traditional theories. Not any longer; it has matured into a growing field that tries to understand how psychology affects economic decisions. The tension between traditional and behavioural economics is centred on a fundamental issue of human behaviour. Economists have long built their discipline around a view of humans as rational actors who … Continue reading Behavioural economics challenges traditional view of “homo economicus”