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Behavioural Economics Essays

The Anchoring Effect: Using Insights From Behavioural Economics To Understand Human Behaviour Better

Introduction Behavioural economics has risen to prominence in the last several decades. The Economics behaviourists have proved how an individual’s decision-making may cause people’s choices to deviate from the conventional wisdom based on the assumptions of complete information, constant discount rate, and perfect rationality (Webster et al., 1992). Among those impacts, the first one was ... Read More
Pages: 9       Words: 2463
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