Behavioural Economics

3. : Choices are influenced by how they’re presented or described.
6. Bias : Searching for information that supports existing beliefs.
8. Choice : An option that applies automatically unless people actively opt out.
9. Economic Man : A simplified model of a perfectly rational and self-interested individual.
11. Choice : A policy requiring an explicit decision rather than letting inaction decide.
12. Bias : Paying too much attention to prominent or emotionally striking information.
14. Theory : A theory showing people assess outcomes relative to reference points.
16. Aversion : Preferring to avoid losses more than acquiring equivalent gains.
18. Paternalism : Policies that help people while preserving freedom of choice.
20. 1 Thinking : Fast, intuitive, and emotional way of making decisions.
21. Mentality : When many people mimic the actions of a crowd.
22. Choice : Restricting the number of options to make decisions easier.

1. Market Failure : Market inefficiencies caused by systematic irrational behaviour.
2. Bias : Giving too much weight to recent or vivid information.
4. : The tendency to stick to the first piece of information presented.
5. 2 Thinking : A slower, reflective way of thinking and analyzing.
7. Rationality : Decisions are limited by time, information, and cognitive capacity.
10. : The tendency to overestimate one’s knowledge or ability.
13. Self-Control : Difficulty resisting short-term temptations despite long-term goals.
15. Architecture : Designing how options are presented to influence choices.
17. : The error of relying only on visible information.
19. : A subtle policy tool that alters behaviour without removing options.