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Nudge or Fudge: Application of Behavioural Insights in Occupational Safety and Health

by Zailee Bin Dollah, Leow Chee Seng, Vincent Leong Wing Sum, Mohamad Muzaffar Abdul Hamid, Salina Binti Tukimin Hebat Lite - Your Lite E-book Subscription - eLib eBook Portal

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Publisher - Humanology Sdn Bhd

Category - Finance & Investments

The book Nudge or Fudge helps readers to understand the concepts of behavioural economics in an easy way. The field of behavioural economics remains new in most of the universities in Asia. Behavioural economics describes economic phenomena by considering human beings are not fully rational. It does not mean that the humans are not smart. Humans have limitations that affect their behaviour in some ways. 

Unlike a robot or homo economicus, most people have difficulties with assessing new information. The example when it comes to stock investments, humans are hardly ever fully rational. While most of the standard economics theory is normative; that means explaining how people should behave, behavioural economics is descriptive explaining how people actually behave. 

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