Akerlof's notable work is heavily associated with what type of economics?
Neo-classical
Keynesian
Behavioral
Supply-side
Answer
Behavioral economics, a field pioneered by George Akerlof, blends psychology and traditional economic theory to understand how real-world psychological factors influence economic decisions. Unlike mainstream economics, which assumes rational decision-making, behavioral economics considers emotions, biases, and social influences on economic choices, aiming to provide more accurate models of human economic behavior.
The Economic Mind of George Akerlof: Unraveling the Genius
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