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Dr Shivalingamma
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Keywords
Big Data, Behavioral Economics, Data Analytics, Artificial Intelligence (AI), Machine Learning (ML), Predictive Modeling, Human Decision-Making, Cognitive Bias, Data-Driven Policy, Real-Time Behavior Analysis, Economic Behavior, Ethical Data Use, Privacy and Security.
Abstract
The advent of Big Data has revolutionized the way economic behavior is observed, analyzed, and predicted, offering transformative insights into the field of behavioral economics. Big Data encompasses vast, complex, and diverse datasets generated from digital interactions, social media, online transactions, sensors, and various digital platforms. Its integration with behavioral economics provides researchers with unprecedented opportunities to understand human decision-making processes at a granular level. Traditional behavioral economics relied heavily on controlled experiments and surveys to study biases, preferences, and irrational choices. However, the availability of Big Data enables the examination of real-world behaviors across large populations and varied contexts in real time.
By applying advanced analytical tools such as machine learning, artificial intelligence, and predictive modeling, economists can uncover patterns of consumer behavior, financial decision-making, and social influence that were previously hidden. Big Data also enhances the predictive accuracy of behavioral models, helping policymakers and organizations design better interventions, such as nudging strategies, to promote desirable economic and social outcomes. Furthermore, it aids in refining theories of bounded rationality and prospect theory by validating them with large-scale empirical evidence. Despite these advantages, the fusion of Big Data with behavioral economics also raises critical ethical and methodological challenges. Issues such as data privacy, algorithmic bias, and the potential misuse of behavioral insights for manipulation must be addressed to ensure that data-driven economic policies remain transparent and equitable
In today's digital world, we are constantly generating and collecting data. From social media posts to online shopping habits, the amount of data being created and stored is growing at an unprecedented rate. This phenomenon is known as "big data." Big data refers to the large and complex sets of data that are generated by various sources, such as social media, sensors, and other digital devices. These data sets can be analyzed to uncover patterns, trends, and insights that can inform decision-making in a variety of fields, including business, finance, healthcare, and government.
IJCRT's Publication Details
Unique Identification Number - IJCRT2507900
Paper ID - 294925
Author type - Indian Author
Page Number(s) - h880-h885
Pubished in - Volume 13 | Issue 7 | July 2025
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No Of Downloads - 40
Author Country - India, 585330, Bidar, Bidar, 585330, Arts All
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Dr Shivalingamma, "BIG DATA AND IMPLICATIONS FOR BEHAVIORAL ECONOMICS", International Journal of Creative Research Thoughts (IJCRT), ISSN:2320-2882, Volume.13, Issue 7, pp.h880-h885, July 2025, Available at :http://www.ijcrt.org/papers/IJCRT2507900.pdf
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