Topic Videos
Social Norms (Behavioural Economics)
- Level:
- A Level
- Board:
- AQA, Edexcel, OCR, Eduqas
Last updated 21 Mar 2021
Traditional economics assumes that people make choices independently of one another. Behavioural economists believe that most decisions are taken in a social context within social networks. Individuals are influenced by social preferences, identities, and norms. Many people imitate the behaviour of others almost automatically.
The World Bank Development Report (2015) said that "Individuals are not calculating automatons. Rather, people are malleable and emotional actors whose decision making is influenced by contextual cues, local social networks and social norms, and shared mental models."
You might also like
Can the UK government nudge people into using less energy?
25th July 2022
Alternatives to Profit Maximisation Explained
Topic Videos

Illusion of the Year for 2020
5th January 2021
Behavioural Nudges [Head Start in A-Level Economics]
Topic Videos