Humans often act irrationally, making decisions—sometimes important ones—that contradict our best interests. This kind of irrational behavior is at the center of behavioral economics, and this free, ...

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 studies how psychological tendencies influence economic decisions and outcomes. Concepts such as loss aversion and bounded rationality explain why people evaluate outcomes ...

In the late 1800s, one of the most enduring fictional characters of all time first appeared on the scene. No, I am not talking about Sherlock Holmes or Oliver Twist, but a less well-known though ...

Ever bought a monthly gym membership thinking it would make you go more often? Or chosen a health insurance policy with a lower deductible, even though the premium was much higher? You’re not alone – ...

Behavioral economics combines information about human behavior and outcomes with more standard methods of economic analysis. Behavioral economics has been applied in various contexts such as ...

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Forbes contributors publish independent expert analyses and insights. We set an example for a better future via education and research. Behavioral economics is an area of research that aims to combine ...

In its early days, behavioral economics was focused on documenting human deviance from rational action. It began as a challenge to the mainstream neoclassical economics model, which assumes people are ...

You've done everything—endured diets, purged your freezer of Ben & Jerry's, and educated yourself on fat, sugar, and calories. Yet, you can't manage to lose weight. What's wrong with you? According to ...