Behavioral Economic Theory

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences. Behavioral economics (BE) uses psychological experimentation to develop theories about human decision making and has identified a range of biases as a result of the way people think and feel. BE is trying to change the way economists think about people's perceptions of value and expressed preferences. We need behavioural economics to understand the daily life decisions of customers and anyone else. It is used in the health sector, insurance sector, corporates, multi-national companies etc. In all sectors, it has a significant role to play. Companies are inhabiting behavioural economics to rising their sales.

This book researches these question: How e-service brings organizational innovation ? How auto food sale machine helps organizations to reduce staffs number? What factors influence restaurant eaters number? How educational robots help schools to raise students learning interest? How staffs behavior influences organiztational performance? How robots Influence Social Change ? How technology helps organizations to reduce cost? How facility mgt influences employee performance?