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

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 ...

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 ...

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 ...

Economics isn’t just a number’s game. Human irrationality is so intrinsically tied up in the human need to rationalize that financial decisions are often made when our conscious brains are held for ...

Principles of behavioral economics are increasingly being applied in healthcare, especially as pay-for-value reimbursement models become more prominent. Behavioral economics could drive change where ...

Climate change is among the largest threats to humanity. The current gradual government action is insufficient in effectively reducing greenhouse gases (GHG) pollution. In fact, at the current ...

What if you could predict your competitor’s next move before they even made it? Game theory gives you the tools to do just that. Have you ever noticed how a new product launched by one brand often ...

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 ...

Suggested Citation: "1 Introduction." National Academies of Sciences, Engineering, and Medicine. 2023. Behavioral Economics: Policy Impact and Future Directions ...