Defines normative and positive economics
Paper details:
1. Explain how/why neoclassical economics is a normative theory while behavioral economics is a positive theory.
2. Provides a business or policy example associated with each theory. The example must Cleary illustrate how the policy reflects the
appropriate theorical assumptions about decision making (transitivity, convexity, probability weighting and/or time inconsistency for behavioral)
Answer preview for defines normative and positive economics
Access the full answer containing 822 words by clicking the below purchase button