What is Environment Behavioral Economy

By Johnny Ch Lok and Johnny C.H. Lok

Hence, climate change is an example of market failure. It is the worst market failure to influence any energy users' daily energy useful behaviors to be changed to less energy consumption behaviors. In a properly functioning market, the price of something goes up when its supply falls or demand for it rises, this is a key element of the invisible hand theory. So, when human feels that more waste to use energy, this waste energy useful behavior can bring environment pollution more seriously, then it will bring the energy demand is reduced and it will influence energy price goes down because demand is less and supply will also need to reduce as the same time in economic view point. However, because until very recently there was no price put on either fresh air or pollution how have relationship to influence energy price variable to less in energy consumption market. But, the actual implied cost of pollution is very high, if pollution caused more desertification and higher sea levels, any lays waste to towns and cities, it will come at a great price variable influence to energy consumption market. But, it is only since scientists realized the potential of climate change for environment pollution influence to prove that they have possible relationship to waste energy useful effect. In theory, the price of combating climate change ought to be what people are willing to pay in order to ensure that they and their children have clean air and water in the future. So, environment protection people will reduce to waste to use energy to avoid this issue occurrence.How and why behavioral economics can predict consumers' daily behaviors change. Experience shows that people are by no means consistently rational. Such as one smoker will reduce to smoke suddenly, the reasons may include health factor, air pollution factor, cigarettes price increasing factor, income reducing factor, living habit changing factor, family and friend bad relationship factor to influence whose smoking behavior. So, their emotion will be influenced to be poor and it can bring the smokers' smoking behavior changes to be influenced to less smoking. It is good example to make them act irrationally.

• Format: Paperback
• Language: English
• ISBN: 1671545966
• ISBN13: 9781671545960
• Release Date: January 1
• Publisher: Independently Published
• Length: 558 Pages
• Weight: 3.35 lbs.
• Dimensions: 1.4" x 8.0" x 10.0"