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Which of the following is the most popular way to circumvent WTO guidelines and impose new duties?
Business Start-Ups
New business ventures often characterized by innovation, high risks, and the potential for significant growth.
Behavioral Economics
The branch of economic theory that combines insights from economics, psychology, and biology to make more accurate predictions about human behavior than conventional neoclassical economics, which is hampered by its core assumptions that people are fundamentally rational and almost entirely self-interested. Behavioral economics can explain framing effects, anchoring, mental accounting, the endowment effect, status quo bias, time inconsistency, and loss aversion.
Harmful Decisions
Choices made by individuals or entities that result in negative consequences or damage.
Neoclassical Economics
The dominant and conventional branch of economic theory that attempts to predict human behavior by building economic models based on simplifying assumptions about people’s motives and capabilities. These include that people are fundamentally rational; motivated almost entirely by self-interest; good at math; and unaffected by heuristics, time inconsistency, and self-control problems.
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