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Vlad [161]
3 years ago
9

Do economists analyze​ people's thought processes or do they look at what people actually​ do?

Social Studies
1 answer:
jarptica [38.1K]3 years ago
7 0
Economists focus on what people do , not their thought processes
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If Professor pegler's research efforts focus on how the use of heuristics influences the way people assess financial risks. The specialty area that this research best represent is:<u> Cognitive Psychology.</u>

<h3>What is Cognitive Psychology?</h3>

Cognitive Psychology can be defined a study that focuses on how people think, act, behave, learn, solve problem etc.

On the other hand heuristics  can be defined as the techniques that enables people to make use of their problem solving skills to solve problems.

Therefore if Professor pegler's research efforts focus on how the use of heuristics influences the way people assess financial risks. The specialty area that this research best represent is:<u> Cognitive Psychology.</u>

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The term knowledge is best defined as information or experience that we believe to be true and for which we have justification.

This ultimately implies that, knowledge is any information or experience that an individual possesses and it can be proven beyond reasonable doubt that, it is factual, true and justified.

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