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 ...

Behavioral economics combines information about human behavior and outcomes with more standard methods of economic analysis. Behavioral economics has been applied in various contexts such as ...

In experiential education, the student learns through experience by observing a concept or phenomenon and applying this knowledge in a real-world context. A research project conducted by undergraduate ...

Daniel Kahneman, who understood that not all economic decision-making is strictly rational, has died at the age of 90. His research, which focused on the ways human psychology can warp rational ...

Behavioral Economics (BE) and lab/field experiments in the last several decades have contributed to the deepening scientific knowledge by uncovering mechanisms, producing key interventions, and ...

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 provides a framework to understand when and how people make mistakes. The new field of behavioral economics blends insights of psychology and economics, and provides some valuable ...

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