Behavioral Development Economics

Behavioral Development Economics is a field that examines how psychological factors influence economic decisions in developing countries. It recognizes that people may not always act rationally due to biases, social norms, and limited information. This approach seeks to understand why individuals make certain choices, such as saving or investing, and how these decisions can impact economic growth and poverty levels. By integrating insights from psychology into traditional economics, it aims to create more effective policies that better align with people's behaviors and improve their living conditions.