BEHAVIORAL FINANCE AND ITS IMPACT ON TRADITIONAL ECONOMIC ANALYSIS
Abstract
Behavioral finance, which has recently entered the fields of finance and economics with a fresh perspective, challenges the traditional economic concepts of rational decision-making. This field emphasizes that to conduct more accurate analyses in economics, it is necessary to account for human psychological decisions, cognitive biases, and the role of emotions in decision-making. By considering the limitations of available opportunities and the diversity of choices, behavioral finance shows that we can gain more insights into market participants. These shifts can have a significant impact across various sectors and contribute to more precise decision-making at the national level, enhancing the financial well-being of the state and its citizens.
Keywords:
behavioral finance economic analysis traditional economics economic decisionsReferences
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