Search results
Results From The WOW.Com Content Network
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory. [1] [2] Behavioral economics is primarily concerned with the bounds of rationality of economic ...
Positive economics as a science concerns the investigation of economic behavior. [4] It deals with empirical facts as well as cause-and-effect relationships. It emphasizes that economic theories must be consistent with existing observations and produce precise, verifiable predictions about the phenomena under investigation.
Neuroeconomics is an interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics. [1]
Cognitive depletion When a person has to make difficult or complex choices Cognitive overload Being challenging for a person to make rational choices because of the complexity of the choice Framing How a choice is described is called framing. If a choice is framed in more positive ways, it is easier for a person to make that choice
In the early years of cognitive psychology, behaviorist critics held that the empiricism it pursued was incompatible with the concept of internal mental states. However, cognitive neuroscience continues to gather evidence of direct correlations between physiological brain activity and mental states, endorsing the basis for cognitive psychology ...
The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, [1] life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health.
Positive illusions are the cognitive processes people engage in when they self-aggrandize or self-enhance. They are unrealistically positive or self-affirming attitudes that individuals hold about themselves, their position, or their environment. They are attitudes of extreme optimism that endure in the face of facts and real conditions.
The process of assimilating and expanding our intellectual horizon is termed as cognitive development. We have a complex physiological structure that absorbs a variety of stimuli from the environment , stimuli being the interactions that are able to produce knowledge and skills.