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Behavioral Economics Demonstrates Need for Business Strategy Gamification


Behavioral Economics Demonstrates The Need for Business Strategy Gamification
First, it’s important to set a foundation by defining behavioral economics. BE studies the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions and the consequences for market prices, returns, and resource allocation, although not always that narrowly, but also more generally, of the impact of different kinds of behavior, in different environments of varying experimental values. (source: Wikipedia). I have to say that this is actually a pretty easy to understand and overall nicely laid out description of such a complicated topic.