What is irrational behavior economics

It means economists need to take into account the potential for irrationality.Behavioural economics (quizlet revision activity) quizzes & activities rational behaviour (quizlet revision activity) quizzes & activities mandated choices and default choicesBehavioral economics tries to explain that this discrepancy between a rational and irrational decision is because humans, by nature, are often distracted and therefore don't always make the best decisions for themselves.4 facts about behavioral economics.Behavioral economics combines psychology and economic theory to examine why people sometimes make irrational decisions.This can be traced back to classical economics, which asserts that people are rational beings.

Behavioral economists understand that humans are emotional, easily distracted by the modern world, and susceptible to outside influences.