Mathematics Homework Help

I’m working on a applied mathematics discussion question and need an explanation to help me study.

Economic  behavior is more complex than assumed by conventional economic theory.  Political economy explains the functioning of government. Behavioral  economics ties psychology into human behavior.

Economists assume that individuals make rational decisions. However real people are more complex.

Based on what you have learned in your assigned reading, answer the following questions in your initial post:

• What are the human behaviors economists should observe when creating  economic models? Example: people tend to find solutions that are good  enough, but not the best solutions.

In your responses, comment on at least two of your  peers’ posts and share example of how non-rational human behavior can  change an economic outcome.