Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 62 , 28 December 2023
Open
Access | Article
Research on the Heuristic Bias in Behavioral Economics
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Abstract
Behavioral economics is a branch of economics. It studies people's decision-making patterns and behavioral principles when making decisions. Behavioral economics has penetrated into people's lives, and heuristics are everywhere. This paper shows several classifications and experimental investigations of heuristic bias in behavioral economics. It is widely believed that heuristic bias means that when people want to judge a complex, fuzzy, and uncertain event, they often take some shortcut in thinking due to the lack of effective methods, such as relying on past experience, analyzing and processing past experience, getting inspiration, and then making judgments using the inspiration. However, through literature reading and analysis, it can be found that people don't always make such choices when faced with problems, or they stay rational.
Keywords
social, psychological, psychology, choice
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-225-1
- ISBN (Online)
- 978-1-83558-226-8
- Published Date
- 28 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/62/20231333
- Copyright
- 28 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited