An interdisciplinary subfield that focuses on how social and cognitive psychology relate to economic decision making is called _

Question

Gnoma [55]

2 years ago

6

An interdisciplinary subfield that focuses on how social and cognitive psychology relate to economic decision making is called _

_________.

Social Studies

1 answer:

kondor19780726 [428] · Answer 1 · 2022-03-13T16:55:49+03:00

Answer:

behavioral economics.

Explanation:

Behavior theory is used to determine how the economic decisions of individuals are influenced by the psychological and cognitive factors. It is the blend of economical and psychological ideas to identify systematic errors in a particular situation. This understanding of in which circumstances one makes error helps to provide a valuable insight into economic decision making.