The Economics of Oil

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Related blog post: https://www.tykeynes.com/blog

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What Economic school do I represent?

I have often been accused of "sleeping around" with different economic schools of thought, truth is, what I really follow might just shock you.

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Behavioral Economics

Behavioral economics is a branch of economics that investigates the impact of psychological, cognitive, and emotional factors on individual decision-making and economic outcomes. Unlike traditional economics, which assumes rationality and perfect decision-making, behavioral economics recognizes that human choices are often influenced by biases, heuristics, and social factors. By integrating insights from psychology and economics, behavioral economics provides valuable explanations for real-world economic phenomena, such as consumer choices, investment decisions, and market dynamics. It has become a crucial tool in understanding and predicting economic behavior, and its findings have profound implications for policymaking, improving market efficiency, and designing interventions that nudge individuals towards better outcomes.