Do generative AI models, particularly large language models (LLMs), exhibit systematic behavioral biases in economic and financial decisions? If so, how can these biases be mitigated? Drawing on the ...

SAN FRANCISCO (AP) — Daniel Kahneman, a psychologist who won a Nobel Prize in economics for his insights into how ingrained neurological biases influence decision making, died Wednesday at the age of ...

The half-bearded behavioral economist Dan Ariely tends to preface discussions of his work—which has inquired into the mechanisms of pain, manipulation, and lies—with a reminder that he comes by both ...

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

Learn how Nobel Laureate Daniel Kahneman's work in behavioral economics revolutionized the understanding of human ...

Ever bought a monthly gym membership thinking it would make you go more often? Or chosen a health insurance policy with a lower deductible, even though the premium was much higher? You’re not alone – ...

Marginal VaR measures the risk added by new investments in a portfolio. Learn its definition, how it works, calculation, and impact on overall risk management.

Behavioral economics combines psychology and economics to understand human behavior. People often make decisions based on their emotions and act on impulse. However, the right nudges—monetary and ...

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 ...

A recent story on National Public Radio ( link) gives an overview of a subfield of economics called behavioral economics. Behavioral economics incorporates elements of psychology into economic theory.

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 ...