Question

why behavioral economics may describe better economic of indigenous people?

Answer 1

The indigenous people are the inheritors and practitioners of a unique culture. They are closely related to nature. Indigenous people groups are bound to live in remote zones than the non‐Indigenous populace and those of numerous other created nations. There is considerably less presentation to particular sorts of business sectors in these regions that implies that money related exchanges will make up a little portion of the relational trades that the Indigenous populace partakes in. One inspiration for living in remote regions is a craving to keep up specific parts of Indigenous culture with the social and institutional settings that individuals end up unequivocally affecting on their conduct. While there is considerable assorted variety inside the Indigenous populace by age, sex and topography, there are various social characteristics that are to some degree distinctive by and large for the Indigenous populace. This incorporates a continuous kinship‐based framework with altogether different social connections to the standard. It is very likely then that the decisions and conduct of Indigenous populace will shift further or in various manners from standard economic assumption than those of the non‐Indigenous populace. Inability to consider will prompt imperfect strategy choices and, at last, more regrettable results for the Indigenous populace.