Behavioral Economics

Delve into the realm of normative economics, a perspective that reflects prescriptive judgments and imagined scenarios that explore what an economy ought to be. Understand the fundamental differences between normative and positive economics, and the influence of behavioral economics on public policies.

Dive into the concept of anchoring in behavioral finance, how it impacts decision-making, and ways to identify and counter anchoring bias effectively.

Explore the phenomenon of herd instinct, its impact on financial markets, and strategies to avoid common pitfalls associated with following the crowd.

A deep dive into prospect theory, unveiling how perceived gains influence decisions more significantly than perceived losses, and providing a comprehensive guide on overcoming inherent biases.

Discover the psychological and economic principles behind the wealth effect and how it influences consumer spending, business investments, and overall economic growth.

Dive deep into the compelling prisoner's dilemma, a cornerstone of game theory illustrating how individual choices can lead to suboptimal outcomes both in economics and beyond.

Explore the concept of mental accounting, its implications on financial behaviors, and strategies to counteract this cognitive bias.

Explore the theoretical construct of Homo Economicus, which represents humans as rational, self-interested, and optimally informed decision-makers in classical economic theories.