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.
- More 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.