The “ultimatum game” is a classic game in behavioral economics. A simple version… One person proposes how to split a pot of ...

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

Discover the principles of economic justice, how it fosters equality, and explore actionable strategies to achieve fair ...

Discover how economists' assumptions shape economic models, affecting predictions about consumer behavior, resource ...

The late Princeton University psychologist Daniel Kahneman changed our understanding of how we make decisions, especially financial ones, proving that we are far more irrational than we think.

Here are some of my favorite surprising studies. What do they have in common? People are more likely to buy jam when they’re presented with six flavors than 24. After inspecting a house, real estate ...

The National Academies of Sciences, Engineering, and Medicine are private, nonprofit institutions that provide expert advice on some of the most pressing challenges facing the nation and world. Our ...