Ultimately, the most effective AI adoption strategies recognize that humans fundamentally drive the implementation of ...

Behavioral economics uses an understanding of human psychology to account for why people deviate from rational action when they’re making decisions. In the model of rational action assumed by ...

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 ...

Filing for Social Security early is a complex decision that depends heavily on your individual and family circumstances, including health and financial needs.

Behavioral economics, however, acknowledges that humans aren’t always rational. Enter the ultimatum game. To learn how you fared, read the two conversations below.

One of the founders of behavioral economics, who incorporated human quirks into the study of how people make economic decisions, has died. Daniel Kahneman was 90.

Behavioral economics claims that humans aren’t rational. That’s a philosophical claim, not a scientific one, and it should be fought out in a rigorous marketplace of ideas.

Behavioral economics says that no, what your brain is doing is responding to scarcity.” These seemingly irrational choices are called “biases,” many of which can affect how we shop.

Herding behavior, another behavioral economics term, can lead to bubbles in the housing market or the stock market and was one of the culprits for the subprime mortgage crisis of 2008.

The basic message of behavioral economics is that humans are hard-wired to make judgment errors and they need a nudge to make decisions that are in their own best interest.