As the column’s name suggests, Thaler set out to challenge standard economic thinking by testing economic anomalies—in other words, what happens when our irrational, some might say human, selves are ...

Suggested Citation: "10 Criminal Justice System." National Academies of Sciences, Engineering, and Medicine. 2023. Behavioral Economics: Policy Impact and Future ...

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

The late Princeton University psychologist Daniel Kahneman changed our understanding of how we make decisions, especially financial ones, proving that we are far more irrational than we think.

In the workplace, it is easy to forget our humanity. In business, people discuss serious topics like the bottom line and strategic planning, therefore it is assumed everyone is driven purely by data ...

Losing weight is incredibly difficult. People who have put on unwanted pounds need all the help they can get to trim their waistlines. Will behavioral economics come to their rescue? Behavioral ...

Developing a detailed understanding of how buyers decide to purchase a product or service and how non-buyers decide not to buy can be crucial information for a company wishing to elevate itself to the ...

Richard Thaler, the University of Chicago professor who just won the Nobel Memorial Prize in Economic Sciences, inspired scholars across different disciplines and fundamentally changed the way we ...

I recently participated as an expert panelist at a symposium on behavioral economics held by the Consumer Financial Protection Bureau (CFPB). The goal of the symposium was to understand how behavioral ...

This activity was supported by contracts between the National Academy of Sciences and Alfred P. Sloan Foundation (G-2020-12645) and the National Institutes of Health ...