A “nudge” takes advantage of human psychology and a number of other concepts in behavioral economics, including mental accounting—the idea that people treat money differently based on context. For ...

In economics, that means that they know how to use the concepts of supply and demand. Consider a real-world example. Let’s apply both plain and behavioral economics to, say, the car market.

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.

This concept, when applied in personal and professional spaces, could influence positive performance and support growth by providing social proof. Inspire Action That Leads To Behavioral Changes ...

The concept of behavioral economics is not new. Car salesmen and advertising experts have long understood the power of an individual’s unconscious biases, insecurities, and occasional irrationality to ...

If you search for the term “behavioral economics,” you will come across a litany of articles and stories about it and retirement planning. But these articles mostly address financial items.

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

Consumer optimism, as measured by the University of Michigan consumer sentiment index, has rebounded this year to its highest levels since 2007. Overall, this is very positive news about ...

Behavioral economics to the rescue: becoming a savvy consumer on Black Friday Plan ahead and buy based on what you need and not on whether it seems like a good deal. By Dr. Guy Hochman 29 November ...

Behavioral economics has gotten a lot of attention in recent years. (Think "Nudge.") But one expert on the intersection of psychology and economics argues that some of the policy prescriptions ...