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 ...

Discover how econometricians use math and statistics to analyze and predict economic trends, serving in finance and academia ...

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 ...

A new theory of economic decision-making offers an explanation as to why humans, in general, make decisions that are simply adequate, not optimal. A new theory of economic decision-making from Mina ...

Over the last 10 years, Behavioral Economics (BE) has become increasingly popular (see Google Trends chart below). According to BE, people’s economic decisions are often less guided by stable ...

It is a bit difficult to say what criteria should be used to judge the success or failure of a research initiative on the scale of merging psychology and economics. Two reasonable criteria, at least ...

Behavioral economics helps investors understand irrational market behaviors and customer choices. Examples of behavioral economic theories include loss aversion and sunk-cost fallacy. Recognizing ...