Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...

Organizations around the globe are increasingly using insights from the field of behavioral economics to help people make more efficient decisions. Discover how to apply cutting-edge behavioral ...

Imagine that a patient suffering from unusually profound amnesia has two toasters in his kitchen. The toaster on the right functions normally. The toaster on the left delivers an electric shock when ...

Richard Thaler won the 2017 Nobel Economics Prize for integrating psychology with economics. He has played a crucial role in the development of behavioral economics over the past 40 years, which has ...

Ever bought a monthly gym membership thinking it would make you go more often? Or chosen a health insurance policy with a lower deductible, even though the premium was much higher? You’re not alone – ...

With the amount of messaging that inundates individuals on a daily basis, it can be frustrating for retailers to make their mark. Here is the problem: retailers spend a majority of their time and ...

The long reach of life experience affects real-world economic outcomes, for policymakers and consumers alike On October 29, 1929, the roaring twenties came to a sudden close in the United States. In ...

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that ...