An exploration into the concept of endogenous preferences in economics, encompassing historical context, definitions, analytical frameworks, and case studies.
A phenomenon in decision theory where people's choices under uncertainty violate the axioms of expected utility theory, first identified by Maurice Allais.
Understanding the behavioural theories of the firm that look into the objectives of individuals and groups within firms rather than rigid profit maximization assumptions.
An in-depth exploration of risk taking in economics, including its definitions, historical context, and various analytical frameworks.
Anomalies in expected utility theory and its implications on decision making under risk.
Exploration of altruism in economics, its implications on traditional economic theories, and various analytical perspectives.
A situation where a decision-maker knows possible events but not their exact probabilities.
Economic choices unexplained by standard choice theory that have led to the development of behavioral economics.
A comprehensive guide to understanding behavioral economics and its implications in the field of economics.
A comprehensive guide to understanding behavioral economics and its implications in the field of economics.
An examination of the concept of bounded rationality and its significance in economic theory.
A loss in utility derived from the consumption of a 'bad', often interchanged with the disutility from labor.
A situation in which the optimal plan of a decision-maker made at one point in time is no longer optimal later in time.
An analysis of habit persistence in economic preferences where current and previous consumption levels affect utility.
An assumption on the rate of time preference reflecting a bias towards present rewards, showing a declining discount rate as the time horizon increases.
Exploration of the concept of hysteresis and its implications in economic dynamics and behavioral economics.
An understanding between parties on acceptable forms of behaviour that is not part of any formal agreement.
Explanation of incentives as economic tools used to influence actions of economic agents through rewards or penalties.
A comprehensive overview and analysis of the concept of incomplete contract in economics.
A comprehensive overview of latent variables in economics, exploring their definition, applications, analytical frameworks, and related concepts.
Definition and meaning of the term 'norm' in the context of economics.
Definition and examination of the Nudge Unit and its role in applying behavioral insights to public policy.
An attitude or policy approach favoring control over people's actions for their perceived good.
An exploration of the concept of pre-commitment in economics and its various theoretical and practical implications.
Understanding the tendency for a variable to be influenced by its largest previous value and its implications in economics
An exploration of the concept of 'reference point' in economics with emphasis on its use in Prospect Theory.
The preference for a certain pay-off rather than a risky pay-off with the same expected value in economic decision-making.
A decision-making strategy that aims at reaching an adequate outcome rather than an optimal outcome
An in-depth exploration of the term 'Social Capital' in economics
An accepted, established, or expected pattern of behaviour in a society.
An exploration of the St Petersburg Paradox, its origins, and implications in economics.
