The field of behavioral economics blends ideas from psychology and economics, and it can provide valuable insight that individuals are not behaving in their own best interests. Behavioral economics ...

Behavioral economics studies how psychological tendencies influence economic decisions and outcomes. Concepts such as loss aversion and bounded rationality explain why people evaluate outcomes ...

Behavioral Economics—an eight-week virtual program that blends self-paced online modules with live-online sessions led by Chicago Booth faculty—helps executives make more effective decisions. Discover ...

In the late 1800s, one of the most enduring fictional characters of all time first appeared on the scene. No, I am not talking about Sherlock Holmes or Oliver Twist, but a less well-known though ...

Michelle Baddeley is Director and Research Professor at the Institute for Choice, University of South Australia. Today, it seems as though everyone is talking about behavioral economics. Governments ...

Salary negotiations can feel like a tricky game where the right strategy can make all the difference. But what if there was a way to use science to boost your chances? Behavioral economics combines ...

Behavioral economics, it seems, might just have a bias problem of its own. Once dismissed as little more than psychobabble, the discipline, which marries classical economics with psychology, has won ...

Behavioral economics uses an understanding of human psychology to account for why people deviate from rational action when they’re making decisions. In the model of rational action assumed by ...

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 ...