Cognitive bias and Economics

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between Cognitive bias and Economics

Cognitive bias vs. Economics

A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. Economics is the social science that studies the production, distribution, and consumption of goods and services.

Similarities between Cognitive bias and Economics

Cognitive bias and Economics have 8 things in common (in Unionpedia): Amos Tversky, Behavioral economics, Daniel Kahneman, Decision-making, Falsifiability, Heuristics in judgment and decision-making, Objectivity (philosophy), Rational choice theory.

Amos Tversky

Amos Nathan Tversky (עמוס טברסקי; March 16, 1937 – June 2, 1996) was a cognitive and mathematical psychologist, a student of cognitive science, a collaborator of Daniel Kahneman, and a figure in the discovery of systematic human cognitive bias and handling of risk.

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Behavioral economics

Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.

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Daniel Kahneman

Daniel Kahneman (דניאל כהנמן; born March 5, 1934) is an Israeli-American psychologist notable for his work on the psychology of judgment and decision-making, as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences (shared with Vernon L. Smith).

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Decision-making

In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities.

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Falsifiability

A statement, hypothesis, or theory has falsifiability (or is falsifiable) if it can logically be proven false by contradicting it with a basic statement.

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Heuristics in judgment and decision-making

In psychology, heuristics are simple, efficient rules which people often use to form judgments and make decisions.

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Objectivity (philosophy)

Objectivity is a central philosophical concept, objective means being independent of the perceptions thus objectivity means the property of being independent from the perceptions, which has been variously defined by sources.

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Rational choice theory

Rational choice theory, also known as choice theory or rational action theory, is a framework for understanding and often formally modeling social and economic behavior.

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The list above answers the following questions

What Cognitive bias and Economics have in common
What are the similarities between Cognitive bias and Economics

Cognitive bias and Economics Comparison

Cognitive bias has 89 relations, while Economics has 511. As they have in common 8, the Jaccard index is 1.33% = 8 / (89 + 511).

References

This article shows the relationship between Cognitive bias and Economics. To access each article from which the information was extracted, please visit:

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