Behavioural economics: making choices at the individual and firm level
The interdisciplinary field of behavioural economics studies the impact of psychological factors on economic decision-making. It contributes significantly to our understanding of how real people make choices, and shows us that there is a difference between choices made by individuals and those made by the ‘homo economicus’. Annemieke Tuinstra-Karel at the Netherlands Authority for Consumers and Markets (ACM) discusses latest developments in the field, and looks at the results of recent studies by ACM and Oxera
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