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 ...

The long reach of life experience affects real-world economic outcomes, for policymakers and consumers alike On October 29, 1929, the roaring twenties came to a sudden close in the United States. In ...

The last day of Wharton's spring semester was a glorious day for me, and not just because the magnolias were in bloom. Once again, my consumer behavior students have made me very proud. It was the ...

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 ...

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 ...

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

Behavioral economics provides a framework to understand when and how people make mistakes. The new field of behavioral economics blends insights of psychology and economics, and provides some valuable ...