Albert Einstein defined insanity as “doing the same thing over and over again and expecting a different outcome.” While his statement is often used, perhaps it is nowhere better applied than when ...

Economists and psychologists work together to understand how human behavior impacts people's decision-making in the marketplace.

A recent story on National Public Radio ( link) gives an overview of a subfield of economics called behavioral economics. Behavioral economics incorporates elements of psychology into economic theory.

Organizations around the globe are increasingly using insights from the field of behavioral economics to help people make more efficient decisions. Discover how to apply cutting-edge behavioral ...

Salary negotiations can feel like a tricky game where the right strategy can make all the difference. But what if there was a way to use science to boost your chances? Behavioral economics combines ...

STAMFORD, Conn.--(BUSINESS WIRE)--Suffolk University professors are bringing their expertise in behavioral economics to Gen Re through a unique business relationship designed to benefit 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 ...

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 ...