Asked by
Natalie Chambers
on Nov 25, 2024
Verified
Behavioral economists believe that while people try to make rational decisions, they are frequently subject to systematic errors.
Systematic Errors
Suboptimal choices that (1) are not rational because they do not maximize a person’s chances of achieving his or her goals and (2) occur routinely, repeatedly, and predictably.
- Learn about the key principles of behavioral economics and understand their departure from neoclassical economics.
- Detect multiple behavioral predispositions and their influence on fiscal determinations.
Verified Answer
SB
Learning Objectives
- Learn about the key principles of behavioral economics and understand their departure from neoclassical economics.
- Detect multiple behavioral predispositions and their influence on fiscal determinations.
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