Do the financial markets and education sector have more in common than meet the eye?
Traditional economic theory has long been based on the assumption of consumer rationality, the idea that consumers make choices to maximize their utility or satisfaction by consuming goods and services. However, behavioral economics challenges this premise by asserting that emotions and cognitive biases often shape decisions. This research examines the parallels between psychological and sociological factors driving high-risk behaviors in the financial industry and their extension to academic risk-taking in education. Through primary research involving a questionnaire targeting Indian high school students, the study identifies patterns of loss aversion, conditional conformity, and status-seeking behaviors, mirroring those observed in financial contexts. By examining these overlaps, the study emphasizes the broader implications of decision-making biases and recommends interventions to promote collaborative and sustainable approaches in the educational sphere.
This paper was selected for publication in The Walt Whitman Journal of Psychology.
Self-Referential Encoding and Memory Processing - Guided Research
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