THIS book is based on the theory that the economic man attempts to maximize his share of the world's goods and services in the same way that a participant in a game involving many players attempts to ...

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 ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

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 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 is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...