Ishikawa, Japan-- Consumer purchasing decisions can be considered as a form of preference-based human reasoning. There are two major schools of thought on preference. While mentalism asserts that ...

The National Academies of Sciences, Engineering, and Medicine are private, nonprofit institutions that provide expert advice on some of the most pressing challenges facing the nation and world. Our ...

Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...

In partnership with the World Bank Global INsights Initiative (GINI), this year's forum focuses on innovative applications of behavioral insights used to improve consumer welfare as well as to help ...

The National Academies of Sciences, Engineering, and Medicine are private, nonprofit institutions that provide expert advice on some of the most pressing challenges facing the nation and world. Our ...

Algorithms are no longer purely mechanical: by understanding and integrating behavioral biases, traders can turn human emotions into measurable signals for market advantage. A recent study published ...

Here are some of my favorite surprising studies. What do they have in common? People are more likely to buy jam when they’re presented with six flavors than 24. After inspecting a house, real estate ...

The National Academies of Sciences, Engineering, and Medicine are private, nonprofit institutions that provide expert advice on some of the most pressing challenges facing the nation and world. Our ...

Many countries are facing a retirement savings crisis. In the United States, for example, the fraction of workers at risk of having inadequate funds to maintain their lifestyle through retirement is ...

Over the last 10 years, Behavioral Economics (BE) has become increasingly popular (see Google Trends chart below). According to BE, people’s economic decisions are often less guided by stable ...

A University of Chicago professor whose research integrating psychology into economics has had broad influence on public policy has been awarded the Nobel Memorial Prize in economics, the Royal ...