Comment on Behavioral Economics and Experimental Economics
Liu Brng-jun
Abstract
Liu Brng-jun
Abstract
Daniel Kahneman and Vernon Smith gained the Nobel Economics prize of this year, because of their great contribution in the development of Behavioral Economics and Experimental Economics. Through these studies have been more than half century in overseas, our country's researchers know little about it. This paper synthetically introduces and comments on Behavioral Economics and Experimental Economics, based on the research results of Kahneman and Smith.
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Daniel Kahneman and Vernon Smith gained the Nobel Economics prize of this year, because of their great contribution in the development of Behavioral Economics and Experimental Economics. Through these studies have been more than half century in overseas, our country's researchers know little about it. This paper synthetically introduces and comments on Behavioral Economics and Experimental Economics, based on the research results of Kahneman and Smith.
Key concepts: Behavioral economics, Economics, Experimental economics, Positive economics, Prospect theory, Applied economics, Neoclassical economics, Behavioural economics