Behavioural Finance Essay Example | Topics and Well Written Essays - 3500 words

Behavioural Finance - Essay ExampleFair distribution 8. How back fair distribution of resources be achieved? 9. What factors are to be considered in ensuring fair distribution? 10. How is inequality a challenge in fair distribution? Inclusion criteria Inclusion of the material for literary productions was based on relevance to the seek questions and its relevance to the research topic Exclusion criteria Any material that was deemed irrelevant to the research topic was discarded the relevance of the material to the research topic was determined by reviews of its title and knock off Relevance of research questions to the topic The view has been taken that a progression through the research questions exit provide an in depth overview of the research topic. The research questions have been designed to capture all views of the untested economic hitadigm and the different aspects of the new economic paradigm that scholar have identified. Despite the special literature that is avail able in this area, the research questions have helped to conduct an exhaustive literature review. Table of circumscribe Abstract 2 Table of contents 5 Introduction 6 Happiness and Well-being 7 Efficient allocation of resources 9 Ecological sustainability 11 Fair distribution 12 Analysis of the literature 13 Conclusion 14 References 15 Introduction The world has for a long time yearned for a change, the people recognise that the social, political and economic conditions in the universe are not at par with the needs of the society. Ancient economists such as Adam Smith in his wealth of nations argued that competition would be used to distribute good and services in the world as individuals were taken as lucid beings. However, it has been discovered that compassionate beings are not rational... However, despite these growths, the variation gap between the wealthy and the disadvantaged has been rising, both in nation-to-nation comparison and within the countries. Adverse and extrem e climatic conditions have increased in frequency and severity and adapting to these changes has now become a reality. Due to the rising population, the demand for natural resources has travel which has led to overexploitation of natural resources and degradation of the environment, food and oil prices have skyrocketed and debt crisis in most countries has reached an terrible levels. This paper will deal with the new economic paradigm and all the perspectives that are associated with it.These trends shows that the world has no option but to act however, there are more benefits that come with change than just avoiding the banish effects that may result due to failure to change. Change and innovation through testing and advancement of new models are key determinants in human advancement, for instance, the global financial and European debt crisis does not wholly require people to imagine of a better world, but rather, to act and create that world.The need for a new economic paradi gm was boosted when the 193 member states of UN general assembly adopted a consensus resolution 65/309 on happiness towards a holistic approach to development, this resolution characterised happiness as fundamental human goal and a universal aspiration.