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 ...

such as applications to development policy in, for example, Abhijit Banerjee and Esther Duflo’s Poor Economics and the World Bank’s 2015 World Development Review. Nor does he get into the nitty-gritty ...

"Behavioral Economics and Health-Care Markets." Chap. 6 in Handbook of Behavioral Economics: Foundations and Applications 2, edited by B. Douglas Bernheim, Stefano DellaVigna, and David Laibson, ...

economics, neuroscience, marketing, political science, and law. Results from applications of behavioral science are even more distributed because many are self-published by institutions such as think ...

Behavioral economics aims to increase the realism of standard economic ... in cases where traditional economic models fail to capture relevant behaviors. Applications tie to issues in environmental, ...

Prof. Richard Thaler received a Nobel Prize in 2017 as one of the founding figures of behavioral economics, a growing field aimed at understanding why we make the decisions we do and even how to ...

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 ...