Behaviour Economics

2. even with perfect information consumers may have b__________ s______-c__________
3. a 'n______' tries to alter people's behaviour without forbidding any options
5. behaviour economics does not ignore traditional/classical theory but, tries to i_________ it
7. this is the idea that consumers are influenced by how information is presented to them
9. some consumers make decisions based on fear of that they may lose (l_______ a_______)
11. this refers to mental shortcuts (rules of thumb) that allow agents to make quick decisions
13. a framework setting out different ways in which choices can be presented to consumers
14. a_______________ b______ occurs when consumers make decisions based on the ease of which information is available to them

1. following the crowd
4. traditional economic theory assumes economic agents are u_______ m_____________
6. price a_____________ occurs when a value is imprinted in the minds of consumers
8. traditional economic theory assumers economic agents are r___________
10. an option that is selected automatically unless an alternative is provided
11. this kind of behaviour means doing the same thing over and over again
12. s______ n__________ are when consumers make decisions based on society etiquette and expectations