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What is behavioral economics? bellwork

Merriam Webster Dictionary

How is your definition?

Behavioral Economics - method of economic analysis that applies psychology to human behavior to explain economic decision making

Experiment Time!

Scenario 1:

Lindt Truffle 15¢

Hershey’s Kiss 1¢

Now, reduce the amount by 1¢ for both chocolates.

Scenario 2:

Lindt truffle 14¢

Hershey’s Kiss Free!

Analyze the Data

Communicate the results

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