Asked by Melissa Johnson on Jul 01, 2024
Verified
Behavioral economists avoid dealing with fairness concerns because the concept is too subjective.
Fairness Concerns
Issues or discussions surrounding the equitable treatment, distribution of resources or opportunities, and justice in societal, economic, or individual contexts.
Subjective
Subjective pertains to personal opinions, feelings, or tastes, as opposed to objective facts or universal truths.
- Gain an understanding of the core principles of behavioral economics and how they contrast with those of neoclassical economics.
- Understand how behavioral economics incorporates fairness into its analysis.
Verified Answer
VG
Veronica GurrolaJul 08, 2024
Final Answer :
False
Explanation :
Behavioral economists often study fairness concerns because they recognize that perceptions of fairness can significantly influence economic decisions and behaviors, despite the concept's subjectivity.
Learning Objectives
- Gain an understanding of the core principles of behavioral economics and how they contrast with those of neoclassical economics.
- Understand how behavioral economics incorporates fairness into its analysis.
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