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Psychophysiological economics also differs from functional magnetic resonance imaging, which is typically applied exclusively to the study of brain activity. Psychophysiological economics emphasizes the role of the peripheral nervous system as it relates to shaping economic behavior.
Many token economies are designed for groups. The system is running for a whole ward or class. Within this group contingency specific individual goals and reinforcers can be added, though sometimes a token economy is designed for only one specific individual. [citation needed]
An economic theory that defines wealth by the amount of precious metals owned. [48] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [49] The length of a business cycle is the period of time containing a single boom and contraction ...
Nudges in education are techniques used to subtly guide students towards making better choices and achieving their academic goals. 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 ...
The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [1] giving macroeconomics a central place in economic theory and contributing much of its terminology [2] – the "Keynesian Revolution".
In behavioral psychology, reinforcement refers to consequences that increase the likelihood of an organism's future behavior, typically in the presence of a particular antecedent stimulus. [1] For example, a rat can be trained to push a lever to receive food whenever a light is turned on; in this example, the light is the antecedent stimulus ...
Economic methodology is the study of methods, especially the scientific method, in relation to economics, including principles underlying economic reasoning. [1] In contemporary English, 'methodology' may reference theoretical or systematic aspects of a method (or several methods).
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...