Behavioral economics does, and should draw on psychology but

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Yes, behavioral economics does and should draw on psychology. Behavioral economics is a branch of economics that combines psychology with economics to study how people actually make decisions, as opposed to the traditional economic models that assume that people make decisions in a rational and logical manner. By looking at psychological principles and motivations, as well as traditional economic incentives and disincentives, behavioral economists can gain a better understanding of human decision-making. This understanding helps economists understand why people behave in certain ways and how these behaviors can be influenced. Understanding the psychological basis of decision-making can also help policy makers create more effective interventions that target particular populations.

Answered by Matthew

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