Discover how economists' assumptions shape economic models, affecting predictions about consumer behavior, resource ...

We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ...

Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...

Homo economicus is a financial term that refers to the belief that a human is a rational person who makes economic decisions ...