Irrationality in Economics: Microeconomic Effects

This bachelor's thesis analyzes the idea of irrationality in economics. In the theoretical part, it focuses on the difference between rationality and its counterpart - irrationality. The thesis introduces theoretical basis of behavioral and experimental economics and using results form different experiments it explores the irrational behavior or economic subjects. Certain conclusions and recommendations are deduced from these results. Effects of irrational behavior, described in the thesis, relate to everyday life, thus the deducted conclusions are useful as in the real world as in scientific research