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Behavioral economics is a branch of economics that studies the psychological, social, and emotional factors that influence the decision-making process of individuals, organizations, and markets. It helps to understand why people make certain choices and how they are affected by various factors like biases, emotional responses, heuristics, etc.
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- What are the benefits to make rational decision?O Susie knows that too many sugary treats, while delicious when eaten, have long-term adverse effects on weight and health. Based on this information, a behavioral economist would expect Susie to Multiple Choice carefully weigh the short-term benefits against the long-term costs and make a rational decision about how many treats to eat. eat more sugary treats than is optimal, as she likely gives more weight to present events and outcomes than to ones in the future. give away most of her sugary treats in an effort to resist temptation. compute the caloric intake and calculate how many hours exercise would be needed to burn off the calories from each treat. 23 11,208 OCT Prev 1 of 11 tv Next > D ÅSuppose you are designing an intervention to increase daily physical activity among adults. Describe how you would draw on concepts from behavioral economics to design the intervention.