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Oh, Behave! (Stupid Spending)

Oh, Behave! (Stupid Spending)

This article (11 March 2002) is by a freelance writer called Mickey Butts. Although on a humorous theme ? impulsive shopping, it actually illustrates an example from the field called Behavioural Economics, which combines psychology with economics to examine human factors at play as well as rational market forces. He writes ?The behaviorists study why we so often regret the long-term implications of our less-than-rational short-term decisions?. He mentions the Harvard economist David Laibson who wrote about behavioural economics in the August 2001 edition of Journal of Economic Perspectives. George Loewenstein of Carnegie Mellon University and Dan Ariely of Massachusetts Institute of Technology's Sloan School of Management are also researching this subject. There are also links to related articles


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