Can we isolate the psychological and emotional investment into institutions like marriage, and view it entirely from the perspective of an Economic investment?
How can we understand human beings and their decision-making abilities through the application of Economics?
Professor Rasananda Panda, a Professor of Economics at MICA Ahmedabad, believes that - from the price of a product in the market to 'investment' in a sacred institution such as marriage - the concept of Behavioural Economics is applicable everywhere, and provides a more quantifiable way of looking at decision-making.
Watch this video to understand Professor Panda's take on the scope of Behavioural Economics beyond commercial purposes
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