Show Summary Details

p. 11. Economics and behaviourlocked

  • Michelle Baddeley


Why is there so much interest in behavioural economics and how is it different? ‘Economics and behaviour’ explains how behavioural economists bring economics together with insights from other disciplines, such as psychology, sociology, neuroscience, and evolutionary biology. Using this multidisciplinary approach, behavioural economists enrich our understanding of economic and financial behaviour, without necessarily abandoning the analytical power often associated with conventional economics. Behavioural economists assume there are some limits to rational decision-making and draw on the concepts of bounded, ecological, and selective rationality. Behavioural economists also need to find relevant and reliable data including experimental and neuroscientific data. Natural experiments and randomized controlled trials are explained.

Access to the complete content on Very Short Introductions online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can't find the answer there, please contact us.