Behavioral economics

discipline of economy studying the effects of psychological, cognitive, emotional, cultural and social factors on decisions

thumb|300px|Infographic explaining how to apply for and receive an Open Badge, a product of the Nordplus Adult project Open Badges for Adult Educators 2014-2016

a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight

Neuroeconomics is an interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics.

an effect where an individual depends too heavily on an initial piece of information when making decisions

theory in behavioral science, politics, and behavioral economics

concept in many economic theories of humans as rational and narrowly self-interested actors who have the ability to make judgments toward their subjectively defined ends

theory of behavioral economics and behavioral finance that was developed by Daniel Kahneman and Amos Tversky in 1979

the idea that rationality is limited by the tractability of the decision problem, the cognitive limitations of the mind, and the time available to make the decision

apparent violation of the predictions of expected utility theory

Behavioral economics theory that certain prices have a psychological impact

tendency of belief by a person or groups of beliefs once it's formed or form. tendency of following a particular assumption

book by Dan Ariely

predicting someone's future emotions (affect)

economic theory

metaphore

The Octalysis Framework is a human-focused gamification design framework that lays out the eight core drives for humans motivation developed by Yu-Kai Chou.

A method of examining decision making in human through influence by external forces

Debiasing is the reduction of bias, particularly with respect to judgment and decision making. Biased judgment and decision making is that which systematically deviates from the prescriptions of objective standards such as facts, logic, and rational behavior or prescriptive norms. Biased judgment and decision making exists in consequential domains such as medicine, law, policy, and business, as well as in everyday life. Investors, for example, tend to exhibit the disposition effect by holding onto falling stocks too long and selling rising stocks too quickly. Employers exhibit considerable dis

economic theory

research method

freely made decision designed and intended to bind oneself in the future

way to lock oneself into following a plan of action that one might not want to do, but which one knows is good for oneself