Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions …

May 8, 2025 · Behavioral Economics combines elements of psychology and economics to study why individuals and institutions often make irrational economic decisions, diverging from …

Shaped by Nobel-winning UChicago economist Richard Thaler, behavioral economics examines the differences between what people “should” do and what they actually do—and the …

The field associated with this stream of research and theory is behavioral economics (BE), which suggests that human decisions are strongly influenced by context, including the way in which …

Jul 23, 2025 · What is Behavioral Economics? Behavioral Economics is about studying how individuals and groups make choices based on their feelings, thoughts, and social …

Behavioral economics aims to understand the effects of uncertainty on decision-making in such realms as consumer purchasing, financial savings, and lifestyle changes.

Apr 20, 2023 · Economists have long been interested in human behavior, but it was not until the second half of the 20th century that they began to systematically integrate ideas from …

Behavioral Economics Adam Smith was one of the first to acknowledge in the eighteenth century that human economic decision-making is imperfect and is affected by values of fairness and …

Unlike classical economics, which assumes that people are perfectly rational actors aiming to maximize utility, behavioral economics acknowledges that human beings often behave in ways …

Behavioral economics can help policy-makers understand the cultural and psychological contexts of issues such as poverty, use of public goods, implementation of new programs, and so on.