As per the Behavior economics, the assumptions that are in dispute from the traditional economics. Concept Introduction: While behavioral economics borrows its sources from psychology, the study of economic behavior of consumers is based on more scientific principles such as rationality, knowledge, profit making motive and prudence. Sometimes, the behavioral aspect of humans may clash with the traditional economic assumptions.

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Chapter 14, Problem 11P

To determine

As per the Behavior economics, the assumptions that are in dispute from the traditional economics.

Concept Introduction:

While behavioral economics borrows its sources from psychology, the study of economic behavior of consumers is based on more scientific principles such as rationality, knowledge, profit making motive and prudence. Sometimes, the behavioral aspect of humans may clash with the traditional economic assumptions.

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