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All Journal Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA)
Dr. T. Sudha
Unknown Affiliation
Economics, Econometrics & Finance

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HOW PSYCHOLOGICAL FACTORS INFLUENCE ECONOMIC DECISION-MAKING, AND THE IMPLICATIONS FOR POLICY Mudasir Ahmad Sofi; Irshad Ahmad Reshi; Dr. T. Sudha
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 1 No. 4 (2023): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v1i4.57

Abstract

Abstract Economic decision-making is often thought to be a purely rational process, with individuals making choices based on a careful analysis of costs and benefits. However, research has shown that psychological factors play a crucial role in shaping economic decisions. This paper reviews the literature on how psychological factors such as cognitive biases, emotions, and social influences influence economic decision-making. We also discuss the implications of these findings for policy-makers, highlighting the need for policies that take into account the role of psychological factors in shaping economic behavior.
Co-Authors Irshad Ahmad Reshi Mudasir Ahmad Sofi