DEFINITION of 'Bioeconomics'

A progressive branch of social science that seeks to integrate the disciplines of economics and biology for the sole purpose of creating theories that do a better job of explaining economic events using a biological basis and vice versa. The proponents of bioeconomics believe that the same patterns that can be seen in biological evolution can be applied to stock market behavior, as many of the same "causal interactions" and "survival elements" can be found there as well as in nature.

BREAKING DOWN 'Bioeconomics'

In nature, we see groups of different organisms working together to best utilize the resources needed to sustain life, while still promoting a "survival of the fittest" framework. Like behavioral finance and other applied economic schools, bioeconomics is another example of economic theory branching out of classical boundaries and attempting to better explain the complex economies of today.

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