Share this entry

behavioural economics Line breaks: be|hav¦iour¦al eco|nom¦ics

Definition of behavioural economics in English:

plural noun

[treated as singular]
A method of economic analysis that applies psychological insights into human behaviour to explain economic decision-making: behavioural economics helps explain why people under-save for retirement
More example sentences
  • Such insights draw on behavioral economics, an increasingly popular field that incorporates elements from psychology to explain why people make seemingly irrational decisions.
  • Behavioral economics should complement, not substitute for, more substantive economic interventions.
  • The book talks about all the interesting psychological studies cognitive psychology, evolutionary psychology, behavioral economics, experimental philosophy that illuminate how we think and act regarding fear.


behavioural economist

Example sentences
  • Thaler comes from the ranks of "behavioral economists," a group whose influence has grown significantly in the last few years.
  • Even the behavioral economists just advocate more realistic models of human decision-making.
  • Behavioural economists believe in "the endowment effect", a tendency for people to overvalue the status quo.

Share this entry


What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources