Editing Behavioral Economics (section)

== <span style="color: #FFFFFF;">Remembering</span> ==
* '''Behavioral Economics''' — The study of psychological, social, cognitive, and emotional factors on economic decisions.
* '''Nudge''' — A subtle change in choice architecture that steers people toward a better decision without restricting options.
* '''Heuristic''' — A mental shortcut used to make quick, often efficient, but sometimes biased decisions.
* '''Anchoring''' — Relying too heavily on an initial piece of information (the "anchor") when making judgments.
* '''Loss Aversion''' — The tendency to feel the pain of a loss twice as strongly as the joy of an equivalent gain.
* '''Framing Effect''' — How the presentation of information (e.g., "90% lean" vs "10% fat") influences choice.
* '''Endowment Effect''' — Valuing something more highly simply because you own it.
* '''Sunk Cost Fallacy''' — Continuing to invest in a losing project because of past investments that cannot be recovered.
* '''Confirmation Bias''' — Seeking out information that confirms our existing beliefs while ignoring contradictory evidence.
* '''Hyperbolic Discounting''' — The tendency to prefer smaller, immediate rewards over larger, delayed ones.
* '''Bounded Rationality''' — The idea that our ability to make rational decisions is limited by our cognitive capacity and time.
* '''Choice Architecture''' — The design of different ways in which choices can be presented to consumers.
* '''Status Quo Bias''' — The preference for the current state of affairs and resistance to change.
* '''Mental Accounting''' — Treating money differently based on its source or intended use (e.g., "gift" money vs. "salary").
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