BehavioralRelated to or involving the psychological aspects of an individual.
Definitions:
Involving behavior (psychological aspects of an individual) and its impact.
EconomicsThe study of production, distribution and consumption of goods and services.
Definitions:
A social science that studies how individuals, governments, firms, and nations make decisions on allocating resources to satisfy their needs and wants.
Choice architectureThe design of different ways in which choices can be presented.
Definitions:
The design of the context in which people make decisions.
Libertarian paternalismEncouraging individuals to make better choices while also providing freedom to choose.
Definitions:
An approach that influences individuals to make decisions that will improve their welfare while allowing them to stay free to choose.
HeuristicsSimple, efficient rules which explain how people make decisions under uncertainty.
Definitions:
Mental shortcuts that allow individuals to solve problems and make decisions quickly and efficiently.