My Perspective on Social Psychology's Role in Social Development through Behavioral Economics
John Lok, in my work "Learning Social Behavioral Economic Psychology," explores how social psychology can contribute to social development by offering a more nuanced understanding of human decision-making within economic contexts. My view posits that traditional economic theory, which often assumes individuals are perfectly rational and self-interested, falls short in explaining real-world economic phenomena . Instead, my view emphasizes the growing acceptance among economists that behavioral economic theory, which integrates insights from psychology, provides a more reasonable framework for understanding societal development .
Lok's perspective highlights that human behavior significantly influences economic development or recession [3]. Economics fundamentally studies how societies allocate scarce resources to meet unlimited wants and needs, and human behavior is central to these resource allocation decisions [3]. Social psychology, by examining how individuals think, feel, and behave in social situations, offers critical insights into the cognitive biases, heuristics, and social influences that shape economic choices
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John Lok
I had graduated business Administration Science Degree in Common Wealth Open University. Then, I concentrate on researching whether how economic changing environment can influence our behaviors, e.g. consumer behavior in behavioral economic view. I had researched different behavioral economic topics included how artificial intelligence influences economic environment changes, how artificial intelligence influences consumer behaviors, how disease influences traveler leisure psychology, how economic changing environment influences public transport passenger choice, how e-commerce market influences consumer behavior etc. different books are published. I hoped my readers can make accurate analysis to learn how and why the economic changing environment influences consumer behavior in behavioral economic view.
