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Assumptions of economics and business

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What are the values and assumptions of economics and business?

Describe the values underlying neoclassical economics and explain why the field relies heavily on very specific assumptions about human behaviour. How have these assumptions been refuted by the emerging field of behavioral economics? Give an example from your personal experience of how you violated one of the central assumptions of neoclassical economics. Explain how and why.

Reference no: EM133040571

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