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Behavioral Economists
Economists focusing on how psychological, social, cognitive, and emotional factors influence the economic choices made by individuals and institutions.
Systematic Errors
Errors that consistently occur in the same direction and are caused by faults in the measurement system, not randomness.
Irrational
Behavior or actions that are not based on sound judgment or logic, often contrary to self-interest.
Financial Crisis
A situation where financial assets suddenly lose a significant part of their nominal value, often leading to bankruptcies and economic downturns.
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