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 ...

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 ...

Incentive compatibility is core to mechanism design. The success of auctions, matching algorithms, and voting systems all hinge on the ability to select incentives that make it in the individual's ...

A new report from the National Academies of Sciences, Engineering, and Medicine calls for increased collaboration between behavioral economists and policymakers and examines the future research ...

In just a few years, the world has witnessed major challenges, including the disastrous impact of climate change, political polarization, economic downturns, and violent conflict, as well as a global ...

For more than a century, UChicago scholars’ groundbreaking theories have redefined the field of economics—from Milton Friedman’s ideas on monetary policy and Gary Becker’s theory of human capital to ...

Discover how behavioral modeling helps predict consumer actions using spending data, enabling businesses to refine targeting and enhance risk assessment.

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 ...

Climate change is among the largest threats to humanity. The current gradual government action is insufficient in effectively reducing greenhouse gases (GHG) pollution. In fact, at the current ...