As the column’s name suggests, Thaler set out to challenge standard economic thinking by testing economic anomalies—in other words, what happens when our irrational, some might say human, selves are ...

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 ...

SAN FRANCISCO (AP) — Daniel Kahneman, a psychologist who won a Nobel Prize in economics for his insights into how ingrained neurological biases influence decision making, died Wednesday at the age of ...

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

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.

As this debate goes on, both consumers and practitioners are left with a few important questions: What specifically is ergodicity? How does it actually apply to the everyday decision-making of ...

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