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Economics

10 Amazing Examples of Nudge Theory

Nudge Theory, first formulated by the Nobel Laureate Richard Thaler, is part of a relatively new field called behavioral economics, which believes that subtle conditioning and small environmental changes can actually have a profound impact on the behavior of individuals and groups. This theory, and the practical repercussions of it, have been taken to heart […]

Categories
Economics

How Much Loss Aversion Will A Person Feel?

“Everything is relative in this world, where change alone endures” (Leon Trotsky) IF you were offered the chance to win or lose $100 on the basis of a coin flip, would you take the bet? If you are like most people, you would probably decline the wager. Even though the gamble offers an even chance […]