What is Behavior Economics? | From A Business Professor

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Do you know why you might hold onto a stock that's losing value, hoping it will rebound, instead of cutting your losses? Or have you ever chosen a meal at a restaurant because it's listed first on the menu, even though you might not usually prefer it? These are the types of questions behavioral economics addresses. So what is behavioral economics? How it was developed as a discipline? What are its key terms and major applications? In this video, I will discuss these questions with you.