Aspect Quote by Kenneth E. Boulding
![“[There will be movement toward] behavioral economics... [which] involves study of those aspects of men's images, or cognitive and affective structures that are more relevant to economic decisions.” quote by Kenneth E. Boulding](https://sms4smile.com/quotes/img-quotes/f32/kenneth-e-boulding-3728_aspect_there-will-be-movement-toward-behavioral_842854.jpg)
“[There will be movement toward] behavioral economics... [which] involves study of those aspects of men's images, or cognitive and affective structures that are more relevant to economic decisions.”
About This Quote
Source Journal Article: Foundations of Behavioral Economics, 1975
Behavioral economics studies how mental images and emotions shape economic choices, beyond pure rationality.
In simple terms: Emotions affect economic decisions.
Key Takeaway
Consider psychological factors in policy.
Themes
economics
psychology
decision making
Mood
analytical
critical
Type
academic
informative
When to use this quote
- marketing strategies
- public policy
- personal finance
- organizational behavior
Key Concepts
Cognitive biases
affective influences
Questions to Reflect On
- What emotions drive your spending?
- How can policies account for affect?
A Different Perspective
Quantifying emotions is complex and may lack precision.
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![“[Even the mechanism can be endowed with an image. Thus] the thermostat has an image of the outside world in the shape of information regarding its temperature. It has also a value system in the sense of the ideal temperature at which it is set. Its behavior is directed towards the receipt of…” quote by Kenneth E. Boulding](https://sms4smile.com/quotes/img-quotes/bf0/kenneth-e-boulding-3728_behavior_even-the-mechanism-can-be-endowed-with-a_292365.jpg)
