Abstract:Behavioural economics was in a process of rapid development in the last century. One of behavioural phenomenon discovered by economists is money illusion -an inclination to make biased decisions based on nominal rather than real monetary values. This illusion influences individuals' perception of money-related processes and, hence, their economic behaviour. Euro illusion concept, which represents money illusion in countries that adopted the euro, became commonly used after money illusion has been identified an… Show more
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