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Behavioural economics: Consumer biases / nudge theory (HL only)

This page contains the activities for the teacher page: Behavioural economics: Consumer biases / nudge theory (HL only) Anchoring and framing - the anchoring effect happens when an individual must choose a number, but the number is influenced, or 'anchored,' by the person having just heard a different number. This then affects the decision-making process. Bounded rationality - the idea that rationality is limited by...

Tags: biases, rule of thumb, anchoring and framing, availability, bounded rationality, bounded self-control

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