Overview
Behavioral insights on economic resilience highlight the interplay between human behavior and economic recovery. Understanding how cognitive biases and decision-making processes affect resilience can lead to better strategies for communities facing economic shocks. By applying behavioral economics p...
Key Terms
Example: People often make irrational financial choices due to emotions.
Example: A community bouncing back after a natural disaster.
Example: Confirmation bias leads people to favor information that confirms their beliefs.
Example: Choosing between saving or spending money.
Example: Placing healthy food at eye level in a cafeteria to encourage better choices.
Example: Communities with strong social ties often recover faster from economic downturns.