Behavioural Economics (1 janv. 2000 – 1 janv. 2020)

Description:

- Dealt with by Nobel Prize-winners Daniel Kahneman (2002), Robert J Shiller (2013), and Richard Thaler (2017)
- Questions the idea that marginal utility underlies demand and rational consumer behavior
- Challenges to understand consumer rationality
- Blend of economics and psychology
- Argues that humans do not have enough information and that that the mind is not rational
- Relies on experiments and accumulation of evidence
- Information is used to formulate economic policies to provoke socially desirable behavior of consumers

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