Economics A-Level: What is the difference between traditional economic theory and the new approach to behavioural eocnomics?

The key assumptions under traditional economic theory are that economic agents are utility-maximisers and rational in their actions. Economic agents are assumed to have compared the costs and benefits of alternative choices and then choose the option that maximises their net utility. Everyone seems to have perfect knowledge and they have the ability to use this information to make a rational decision. These rational beings have total self control and solely aim to maximise utility. For example, you might donate to charity because you gain utility.  On the other hand, behavioural economics challenge the traditonal assumptions because they are not realistic. It looks at the social, emotional and psychological factors that influence decision making. In reality, agents don't have all the information to make a well-informed decision. There are 3 main restrictions: 1. Limited time 2. All info is not readily available  3. computation weakness People have bounded self-control: they are limited and lack control to act in what they see as their self interest.