Introduction Adam Smith, often heralded as the father of modern economics, laid the foundations for many economic theories and principles that continue to shape global markets today. His insights into free markets and the division of labour are not merely historical footnotes but continue to resonate in contemporary financial discussions, especially amidst the volatility seen
Introduction Nik Prelec is a renowned professor of behavioural economics at the Massachusetts Institute of Technology (MIT) and is recognised for his groundbreaking work on how individuals make decisions. His research plays a crucial role in understanding the economic theories surrounding human behaviour, impacting fields such as marketing, public policy, and finance. Given the increasing