Aspects of behavioral model of economics

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The first model is the Rationalist Economics, and the second is the Behavioral Economics. Behavioral economists point out how the emotion interferes with our financial decision making. Crash of 2008 is an example of irrational behavior of people in financial decision making. There are other psychological forces that impact people's financial decisions. The documentary discusses the relevance of behavioral theory in economics which is a thought-provoking thing to know. I find the various experiments shown in this video to be interesting which gives an insight into various aspects of behavioral model of economics.

Reference no: EM133110566

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