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#1 29-05-2018 10:23:50

Date d'inscription: 07-12-2017
Messages: 1603



Behavioral economics is about understanding economic behavior and its consequences. It’s about understanding why someone buys a hotdog Josh Smith Jersey , goes to work, saves for retirement, gives to charity, gets a qualification, sells an old car, gambles on a horse race, cannot quit smoking, etc. It’s also about understanding whether people make good or bad choices, and could be helped to make better choices. At the core of behavioral economics is the conviction that increasing the realism of the psychological underpinnings of economic analysis will improve the field of economics on its own terms – generating theoretical insights, making between predictions of filed phenomena, and suggesting better policy.

Significance Of Behavioral Economics

On a general level, one of the pioneers of behavioral economics, Herbert Simon, distinguishes behavioral economics from contemporary economic theory largely in terms of the analytical significance of behavioral assumptions o the construction of economic theory. As opposed to neoclassical economics, which assumes that the realism of behavioral assumptions are of no analytical consequences, in behavioral economics the realism of behavioral assumptions can be of fundamental analytical importance. Behavioral economics is therefore distinguished by its efforts to test the empirical validity of a theory’s behavioral assumptions and to determine the analytical and policy-related significance of introducing more realistic assumptions into standard theories.

Contributors To Behavioral Economics

Finance is the part of economics where behavioral economics has made the contributions. There are two factors that contributed to the success of behavioral economics. First, in general, the efficient market hypothesis that generated sharp and predictions about observable phenomena. Second, high quality data that available to test sharp predictions. Comparing the contribution of behavioral economics with that of social sciences more generally it is concluded that behavioral economics offers a framework within which these areas can be examined and, indeed, may be a useful channel generally to add the contributions of other social sciences to mainstream economic research.


Behavioral economics, with its extensions into social psychology, neurology and anthropology, integrates a range of formal disciplines into the realm of economics. In this regard economics is no different from other professions, such as engineering and medicine, which draw on a number of basic scientific disciplines and which integrate techniques of inductive and deductive analysis in practical problem-solving. Economics has always had an empirical base; the argument that behavioral economics undermines “standard” economics is a straw man: no-one ever seriously claimed the existence of homo economics. Behavioral economics brings more explanatory power to this empirical base, and, in so doing, gives more robust guidance for public policy, as we are already witnessing in areas such as gambling and retirement saving. It should also help guide public policy for other issues requiring attention.
By Oliver Trust

BERLIN, Nov. 29 (Xinhua) -- Borussia Dortmund's most valuable player, Gabon rooted and French born Pierre-Emerick Aubameyang (27) scored 67 goals in 107 games on top delivering 19 assists. Besides goal scoring, the striker fancies extravagant clothing and speedy cars.

In a recent Xinhua interview, Aubameyang revealed a secret and "crazy" wish: A race against the fastest man on the planet.

Xinhua: Mr. Aubameyang, you are known for sporting a very dazzling clothing style. Is it true you have been influenced in this mainly by your mother?

Pierre-Emerick Aubameyang: (laughing) You seem to be very well informed. It is true, my mother used to have a shop in which she offered very colorful clothes. I liked that from my early days on.

Xinhua: Another thing about you is speed. Before we talk about you as a football player - how important is speed to you in your life?

Aubameyang: (laughing) Speed is a part of me. I think I was born with that, and nowadays a fast player, I need a fast car, too. I have a passion for fast cars. To drive them means pure joy to me.

Xinhua: What is that fascinating about it?

Aubameyang: The sound. When I arrive at our training ground at Borussia Dortmund, everybody could hear just that a few seconds before I can actually be seen. Everybody knows it's me. I love to hear the machine working.

Xinhua: In terms of football, you love to create noise on the pitch as well. Would you describe yourself as a goal machine?

Aubameyang: At least that is what I try to be. I want to score goals in every match, as many as possible. Recently I scored four times against Hamburg. It was the first time in my career achieved such as feast. So now I have to score five one day. I always set myself new goals. I always want to do better than I did in the past. I always want to achieve things I never achieved before.

Xinhua: Like becoming Bundesliga's best striker in a single season?

Aubameyang: For example, yes. Last season I scored 27 goals but still lost out against Robert Lewandowski. This season has started very well for me, but again I have some tough opponents, most notably with Anthony Modeste from FC Koln. I texted him the other day: "Keep calm, my friend." (laughs) No, I am happy for him to be so successful. And in a certain way it even helps me. The better the other strikers are, the more I have to work to be to be ahead of them.

Xinhua: Speed is another great asset of yours. How did you get so quick?

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