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behavioraleconomics.com

Key takeaways from The Three Laws of Human Behavior

By Aline Holzwarth When Isaac Newton put forth the three laws of motion more than three hundred years ago, he did something radical. It wasn’t his theories or the computations behind them that were so… Open at source

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Humans are creatures of least resistance.
This concept of “what are all the things I am giving up if I do X?” is known as the opportunity cost, and it’s a type of tradeoff that we often ignore.
Often times, our actions have effects that go beyond the impact on ourselves. These types of effects on third parties are called externalities,
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