Which of the following statements accurately reflect principles of behavioral economics in decision-making? Select all that apply.

Behavioral economics studies how people make decisions and how their choices are influenced by various factors. One key idea is that people often rely on mental shortcuts or "heuristics," which can lead to quick but sometimes faulty decisions. For example, if someone sees a product on sale and thinks, "I need to buy this now because it's a good deal," they might overlook whether they actually need it. Another principle is that emotions can heavily affect our choices; for instance, someone might buy an expensive item when they're feeling happy, even if it's not a wise decision. Understanding these principles helps us recognize why we sometimes make choices that don't align with our best interests.