Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...

Discover how behavioral modeling helps predict consumer actions using spending data, enabling businesses to refine targeting and enhance risk assessment.

Behavioral economics, it seems, might just have a bias problem of its own. Once dismissed as little more than psychobabble, the discipline, which marries classical economics with psychology, has won ...

The anomalies studied by behavioral economists suggest that logic is rarely the most important factor in decisions.

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 ...

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 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 helps investors understand irrational market behaviors and customer choices. Examples of behavioral economic theories include loss aversion and sunk-cost fallacy. Recognizing ...