Behavioral economics

Image that you are at the park wait to meet up with a friend. When someone sneaks up behind you and tickles your ribs. You instantly swing your elbow back as hard as you can, hitting that someone in the stomach. Once you realize that you have knocked the wind out of your friend, you feel bad and I’m sure your friend is pretty upset. This has happened to everyone. Human nature still dominate against the nurture aspects of a learned civilization. I myself have experienced instinctual behavior.…

The Indonesia Statistical Bureau stated that young women and men are a growing proportion of the population; one in five Indonesians belongs to the 15-24 age groups. The young population increased from 35 million in 1980 to more than 42.4 million in 2007 (BPS, 1992). Therefore, the population of Indonesia can be classified as “young”, with a large proportion being in the younger age groups. In 2007, 21.4 million people were in ages 15-19, and 21.0 million were in ages 20-24. Adolescence has…

Imagine having the choice of life or death left in your hands alone. On one end, there is a rat, who is energetically running to find a hiding spot from the broom sweeping across the floor. On the other end, there is a stay-at-home mom, jumped up on the table, violently stabbing at the rat in attempts to scare it away from her. One of them will die. Most people would choose to save the stay-at-home mother with three children and not have a guilty thought cross their mind. But what if the rat…

On the strength of this growth, the government identified the information technology enabled services (ITES)/BPO sector as a key-contributor to economic growth, and offered them benefits like tax holidays, previously enjoyed by the software industry. In 1999, after the deregulation of the telecom industry, national long distance and international connectivity also became open to competition. India's…

adapting Aaker’s model. The Business & Management Review, Vol 4. Lekprayura, S. (2012). Brand Equity and Factors Affecting Consumer’s Purchase Intention towards Luxury Brands in Bangkok Metropolitan Area. International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering, Vol. 6, 2620-2625. Muhammad Irfan Tariq, M. R. (2013). Customer Perceptions about Branding and Purchase Intention: A Study of FMCG in an Emerging Market. Journal of Basic and Applied…

Behavioral Economics truly defines why economics is deemed a social science. Economics meets psychology: these studies combine to create a unified study of behaviors behind economic thought and decisions individuals make. Behavioral economics became popular in the late 70’s, where individuals such as Daniel Kahneman a Nobel Prize winner and Amos Tversky who worked closely with Kahneman, painted the world with possibilities and insights to the fairly new economic study of behavioral economics.…

CHAPTER 1 INTRODUCTION 1.1 Background of the Study Sialkot Sports industry is an entrepreneurship capital of Pakistan and its unique craftsmanship is a hallmark of this region. It has a fabulous contribution in the development of our economy because almost all the manufacturing if this industry is being exported. Our economists believe that this industry is a nucleus of cottage industry and it is a beautiful role model for rest of the country. Made in Sialkot, Brazuca…

Homo economicus or the economic man can be referred to the concept of many theories of economics. It portrays human beings as self-interested and rational agents, who pursue optimally the subjectively defined ends. Homo economicus maximizes the utility as the customer and profitability as the producer. The whole theory is compared to the different concepts of economic behavior, cognitive biases as well as homo reciprocans. In the game theory, the homo economicus is related and associated with…

Asian Americans Asian Americans are the fastest growing minority populations in the United States and the number is expected to increase significantly from 18 million in 2010, to 34 million in 2050 (Hastings et al., 2015). Although the number of Asian Americans is constantly growing, research has been limited within the subgroups and only some of the subgroups are being reported. For example, national death registries allow researchers to study population health and look at trends. The problem…

According to Rittenberg and Tregarthen (2009), economics is “a study of choice”. This simple assumption is the most basic definition of the general economic thought because if there is a scarcity present, then there is a choice to be made about this scarce resource. Moreover, Rittenberg and Tregarthen (2009) also point out that what distinguishes economic approach from any other science, whether social or not, is that economists study this “choices” assuming that people try to maximize their…