Archives - Business: Page 41
Author: paul carson (Fri Feb 17, 2006 1:36 am)
Title: Behavioral Economics
The new field of behavioral economics views the way humans conduct business as an evolved heritage of our species. Just as tit for tat and supply and demand influence the trading of goods and services in human economies, they also affect trading activities among animals. Emotional reactions-such as outrage at unfair arrangements-underlie the negotiations of both animals and humans. This shared psychology may explain such curious behaviors as altruism-they are part of our background as cooperative primates.
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grow and be kind
The field does sound interesting, however, it is not a new phenomenon. For years a field called behavorial marketing has studied the human mind to figure what affect purchasing and brand choices. Organizational Behavior studies how members of an organization interact to form one entity. It sounds to me as if this "new field" is just a combination of two very old practices.