Psychology and the economy

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  • Created by: Dorii
  • Created on: 16-03-17 19:03

Irrational thinking- exploring irrational thinking

Availability heuristics- allow us to make decisions quickly; likelihood of selecting something is related to its availability eg reading about plane accidents, makes the info more available when making a probability judgement about the likelihood of being in such an accident

framing effect- same ideas framed differently will produce a different effect

real world influences- understanding irrational…

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