Behavioral economics and behavioral finance are some of the most fascinating areas of study today. The disciplines combine economics, finance and psychology in ways that better model how consumers actually make decisions. In general, the study of economics is based on theoretical models that only remotely resemble the complexities of the real world. These models assume that individuals behave like machines that always know what is in their best interest, always do what is in their best interest, have complete self-control, and only care about themselves.
Go to the article: Your Customers Don’t Make Rational Decisions
