Fill in the missing letters in the paragraph.
The number of underlines shows how many letters you need to fill in. You may answer with the full word or only the missing part.

Traditional economic theory assumes that individuals make decisions based _ _ careful calculation and rational choice. Ho _ _ _ _ _ , research in behavioral economics has sh _ _ _ that human decision-making is often influenced by psychological factors rather than strict logic. People tend to rely _ _ mental shortcuts, which sim _ _ _ _ _   complex choices but can also lead to systematic errors. One well-documented example is loss aversion, the tendency to weigh losses more heavily th _ _ equivalent gains. Because of this bias, individuals may av _ _ _ taking risks even when potential benefits out _ _ _ _ _ the costs. Such findings have chal _ _ _ _ _ _ classical economic models and led researchers to recon _ _ _ _ _ how economic behavior should be analyzed and predicted.