Behavioural economics, consumer behaviour and consumer policy: state of the art

  title={Behavioural economics, consumer behaviour and consumer policy: state of the art},
  author={Lucia A. Reisch and Min Zhao},
  journal={Behavioural Public Policy},
  pages={190 - 206}
Abstract Counter to the traditional assumption of neoclassical economics that individuals are rational Homo oeconomici that always seek to maximize their utility and follow their ‘true’ preferences, research in behavioural economics has demonstrated that people's judgements and decisions are often subject to systematic biases and heuristics, and are strongly dependent on the context of the decision. In this article, we briefly review the transition of research from neoclassical economics to… 
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