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Economics has evolved over a long period of time. It has seen the emergence of various schools of thought enriched with the ideas of great philosophers. In recent times, a new branch of economic theory called Evolutionary Economics has emerged drawing new dimensions into the explanation of economic phenomena. It is based on the principles of evolution and biology. What makes Evolutionary Economics distinct from the mainstream economics is its opposition to the ...
1. Experimental Economics – At a Glance, 2. Origin and Recent Developments of Experimental Economics, 3. Why and How to Experiment: Methodologies from Experimental Economics, 4. An Introduction to Cognitive Experimental Economics, 5. Contingent Valuation, Hypothetical Bias and Experimental Economics, 6. Quantifying Privacy Choices with Experimental Economics, 7. Insights from Experimental Economics for Market Regulation, 8. Experimental Economics in the Design ...
Of late, Behavioral Economics has evolved as a sub discipline of economics, which questioned the fundamental assumptions of traditional economic theory regarding human rationality and economic behavior. Behavioral Economics is based on the psychological underpinnings explaining human economic behavior and decision-making. It attempts to bridge the gaps in neoclassical economic theory by blending psychological, biological and ecological aspects into fundamental ...