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The development of the field of behavioural economics has put economists’ assumptions of human rationality to the test. ... Learn more about the conflicts in approaches to rationality between mainstream economics and behavioural economics.

To familiarise you with these concepts, a summary of the key takeaways from the ‘Rationality’ resource is provided below:. • ... Moreover, welfare economics makes use of indifference curves to consider the effects of different policy actions or

Search. Submit. Resources. The field of behavioural economics is devoted to studying how individuals actually make choices. ... Behavioural economics has been used to design more effective public policy, in finance, and game theory.