Discipline that seeks to study individuals’ emotions and personal factors related to economic decision-making.
Behavioral economics bases its laboratory and on the ground experiments to analyse our behavior, reactions and decisions.
It denies classic economics assumption of homo-oeconomicus explaining that our decisions are generally irrational and subjective.
Even our irrationality is predictable bacause we constantly make the same judgement mistakes.
The traditional model of marketing studies based on declarative and rational statements is deeply questioned by behavioral economics discoveries.