People use cognitive shortcuts to make choices that sometimes have outcomes that don’t serve their own interests or ...

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 ...

Variance is a measurement of the spread between numbers in a data set. Investors use the variance equation to evaluate a ...

Barry speaks with Richard Thaler and Alex Imas award winning economists and co-authors of "The Winner's Curse: Behavioral Economics Anomalies". They discuss the psychology of spending at auctions, and ...

Behavioral economics, like “lived experience,” existed long before anyone thought a special and seemingly redundant name was required. To Adam Smith, economics was made of human behavior in all its ...

Bob Simison profiles MIT behavioral economist Sendhil Mullainathan, who is leading his discipline into the age of algorithms AI is just too important to leave to computer scientists. So says MIT ...

This post is Part 1 of a two-part series. The success story of applied behavioral science began with the publication of popular science books more than 15 years ago showing that people make suboptimal ...

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 ...

ABSTRACT: This paper deals with three traditional measures of concentration: (Corrado) Gini coefficient, adjusted Gini coefficient, and AUC. These metrics are popular methods in assessing the ...

It is a bit difficult to say what criteria should be used to judge the success or failure of a research initiative on the scale of merging psychology and economics. Two reasonable criteria, at least ...