Scenarios about 'behavioral economics'
Behavioral economics examines how psychological, social, cognitive, and emotional factors influence economic decisions of individuals and institutions. This field challenges the traditional economic assumption that humans act as rational agents by incorporating insights from psychology to explain why people sometimes make irrational choices. Behavioral economics has significant implications for public policy, market regulation, and understanding historical economic phenomena through the lens of human behavior rather than purely mathematical models.
What If Behavioral Economics Emerged Earlier?
Exploring the alternate timeline where behavioral economics developed in the 1940s instead of the 1970s, potentially transforming economics, policy-making, and social welfare decades ahead of our timeline.