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 ...

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

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 – ...

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

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.

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 ...

For more than a century, UChicago scholars’ groundbreaking theories have redefined the field of economics—from Milton Friedman’s ideas on monetary policy and Gary Becker’s theory of human capital to ...

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 ...

Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from ...

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 ...