The Relationship Between Psychology and Economics
AbstractEconomics is a science which is constantly progressing and interacting with other sciences. Studies in the economics literature discuss how people display a behavior in the economic decision- making progress. Psychology is a science which explains behavior of people and it cannot be ignored that psychology has a profound effect on economics. Human psychology and behaviors show complex structures, stereotyping people as indicating homogeneous behavior is criticized by many academics and researchers. In this study, it is examined how human psychology guides people when they make economic decisions and the purpose of this research is to analyze how the relationship between economics and psychology has progressed and to explain behavioral economics in this framework.
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Bibliographic InfoPaper provided by Okan University Research Centre for Financial Risks, OKFRAM in its series Working Papers with number 0001.
Length: 13 pages
Date of creation: Mar 2012
Date of revision: Mar 2012
Psychological Economics; Behavioral Economics;
Find related papers by JEL classification:
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-03-14 (All new papers)
- NEP-EVO-2012-03-14 (Evolutionary Economics)
- NEP-NEU-2012-03-14 (Neuroeconomics)
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