Economic man represents a rational actor, aiming to maximize utility and satisfaction. Discover his role and the impact the ...

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 ...

We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ...

Eyal Winter, is the Silverzweig Professor of Economics at the Hebrew University of Jerusalem and Professor of Economics the University of Leicester. His research interests include microeconomics, ...

A recent article in Bloomberg describes how mathematical models behind modern economic theory (and, by extension behavioral economics) are being disputed and contested by a new perspective.

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 ...