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Behavioral Economics

  • Victor J. Tremblay
  • Carol Horton Tremblay
Chapter
Part of the Springer Texts in Business and Economics book series (STBE)

Abstract

In the previous chapters we discussed introductory consumer, producer, and game theory. There, consumers and producers are assumed to be perfectly rational, meaning that they act to achieve a goal given their constraints. In particular, consumers obtain the most beneficial combination of products that they can afford, and firms produce the amount of their product that gives them the highest profit based on consumer demand, technological conditions, and rival behavior.

Keywords

Loss Aversion Cognitive Dissonance Behavioral Economic Framing Effect Confirmation Bias 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media, LLC 2012

Authors and Affiliations

  • Victor J. Tremblay
    • 1
  • Carol Horton Tremblay
    • 1
  1. 1.Department of EconomicsOregon State UniversityCorvallisUSA

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