For more than a century, neoclassical theory dominated economic thinking. Neoclassical economics is a theory based on three key assumptions: individuals have rational preferences; individuals maximize ...
In its early days, behavioral economics was focused on documenting human deviance from rational action. It began as a challenge to the mainstream neoclassical economics model, which assumes people are ...
The neglect of issues related to the economic status of minorities and women in introductory economics textbooks widely used in the United States is a problem rooted in the most fundamental ...
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