When we hear the word “economics,” we instinctively think of banking, finance, and investment. This limited perspective makes us believe that the field of economics doesn’t extend beyond money and the stock market. It is undeniable that money and businesses are vital to the world we live in, however, we as human beings drive all these financial activities. So, if we want to understand how the world runs, we need to start by understanding one of the most fundamental human activities that exist in our day to day life: decision-making. Economics can be defined in many different ways. One definitions is the study of understanding how people take advantage of resources and make decisions. To achieve this, we must first understand how our brain, the CPU (Central Processing Unit) of our system, runs all the algorithms when making decisions with financial consequences.
Tiantian Li (Fri,) studied this question.