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Psychophysiological economics is a field of study focused on the assessment and evaluation of psychological and physiological events as factors shaping consumer economic behavior. [ 1] Psychophysiological economists believe that behavior and cognitive processing are indivisible and that behavioral, cognitive, and physiological tools and ...
Electrocoagulation (EC) is a technique used for wastewater treatment, wash water treatment, industrially processed water, and medical treatment. Electrocoagulation has become a rapidly growing area of wastewater treatment due to its ability to remove contaminants that are generally more difficult to remove by filtration or chemical treatment systems, such as emulsified oil, total petroleum ...
These nudges are based on the principles of behavioral economics and psychology, particularly the concept of dual process theory. This theory suggests that there are two systems of thinking: System 1, which is automatic and instinctual, and System 2, which is reflective and deliberate.
Electrical brain stimulation. Chronic subcortical electrode implant in a laboratory rat used to deliver electrical stimulation to the brain. Electrical brain stimulation ( EBS ), also referred to as focal brain stimulation ( FBS ), is a form of electrotherapy used as a technique in research and clinical neurobiology to stimulate a neuron or ...
Neuroeconomics. Neuroeconomics is an interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics.
Herbert Alexander Simon was born in Milwaukee, Wisconsin on June 15, 1916. Simon's father, Arthur Simon (1881–1948), was a Jewish [ 14] electrical engineer who came to the United States from Germany in 1903 after earning his engineering degree at Technische Hochschule Darmstadt. [ 15] An inventor, Arthur also was an independent patent ...
Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory. [ 1][ 2] Behavioral economics is primarily concerned with the bounds of rationality of economic agents.
Ergodicity economics is a research programme aimed at reworking the theoretical foundations of economics in the context of ergodic theory. [ 1] The project's main goal is to understand how traditional economic theory, framed in terms of the expectation values of ensembles, changes when replacing expectation value averages with time averages.