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the study of how people spend money on goods and services, and how this impacts the economy. It applies economic theory to consumer behavior.

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decision is a choice about how to use resources to achieve the best outcome. Economic decisions can be made by individuals, businesses, and governments.

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purchases are the act of acquiring goods, services, or assets in exchange for money or another asset.

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a branch of economics that uses controlled experiments to study human behavior and economic theories.

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a field of study that combines psychology and economics to understand how people make decisions. It differs from neoclassical economics, which assumes people are rational.

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cognitive bias is a systematic error in thinking that can lead to irrational decisions. It's a fundamental concept in behavioral economics

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the anxiety of missing out on a profitable investment or trading opportunity. It's a psychological effect that can lead to irrational financial decisions

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herd mentality is when people make decisions based on what others are doing, rather than their own analysis. It's also known as herding behavior.

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overestimation is when an estimate is higher than the actual value. Overestimation can lead to poor decisions and financial losses.

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overplacement is a behavioral bias that occurs when people overestimate their abilities relative to others

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examines how incentives, algorithms, and social network structure affect content production, distribution, and consumption.