Behavioral economics is widely perceived to be part of the profession’s shift away from a culture that places abstract theory at its center. I present a critical discussion of the atheoretical style ...

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 ...

Daniel Kahneman, who understood that not all economic decision-making is strictly rational, has died at the age of 90. His research, which focused on the ways human psychology can warp rational ...

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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 ...

Daniel Kahneman, the Eugene Higgins Professor of Psychology, Emeritus, professor of psychology and public affairs, emeritus, and a Nobel laureate in economics whose groundbreaking behavioral science ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics 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 ...

Since the Reagan years, social scientists, political pundits and media types have questioned why many people vote contrary to their economic interests? Such behavior is irrational, a preference for ...