The Rise of Behavioral Economics
Lecture no. 2 from the course: Behavioral Economics: When Psychology and Economics Collide
Taught by Professor Scott Huettel | 29 min | Categories: The Great Courses Plus Online Economics & Finance Courses
Grasp how behavioral economics uses methods from both economics and psychology to better understand biases and anomalies in decision making—factors that “rational choice” models don’t explain. Learn three core experimental principles of behavioral economics, and about Prospect Theory, which helps explain what human beings value.