Overview

Psychology of Economic Decision Making examines how real people make economic choices in situations marked by uncertainty, pressure, and limited information. It reveals that economic behaviour is not simply a matter of logic but a lived process influenced by experience, context, and perception. The book explores how individuals rely on mental shortcuts when facing complex choices and how these shortcuts can both support efficiency and produce predictable errors. It highlights the powerful role of emotions such as fear, hope, regret, and confidence in shaping risk-taking and financial judgment. By connecting psychological theory to real-world economic situations, the book offers readers a deeper understanding of why people save, spend, invest, or hesitate as they do. It invites students, educators, and practitioners to rethink economic behaviour as a human, reflective, and context-driven process, providing insight that is essential for sound personal, organizational, and policy decisions

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