Behavioral economics.

  title={Behavioral economics.},
  author={Steven R. Hursh},
  journal={Journal of the experimental analysis of behavior},
  volume={42 3},
  • Steven R. Hursh
  • Published 1984 in Journal of the experimental analysis of behavior
Economics, like behavioral psychology, is a science of behavior, albeit highly organized human behavior. The value of economic concepts for behavioral psychology rests on (1) their empirical validity when tested in the laboratory with individual subjects and (2) their uniqueness when compared to established behavioral concepts. Several fundamental concepts are introduced and illustrated by reference to experimental data: open and closed economies, elastic and inelastic demand, and substitution… CONTINUE READING
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