Tag: affect heuristic

Heuristics and Biases Part I: Understanding Brexit from a Behavioural Economics Perspective – The Attribute Substitution Heuristic

Heuristics and Biases Part I: Understanding Brexit from a Behavioural Economics Perspective – The Attribute Substitution Heuristic

This is the first article in a series that examines how the Brexit referendum outcome can be understood through the lens of behavioural economics. We begin by first examining how limitations introduced by traditional economic thinking’s reliance on the foundation of rational choice theory as