The basic message of behavioral economics is that humans are hard-wired to make judgment errors and they need a nudge to make decisions that are in their own best interest.

Behavioral economics as a field of study still has merit. Over the years, its researchers have made positive contributions to economics writ large, earning many of them Nobel prizes.

The newly established Center for Heterodox Economics aims to reimagine how we measure economic progress using a more human-centered approach.

What is a “nudge” in behavioral economics? In behavioral economics, a “nudge” is a way to manipulate people’s choices to lead them to make specific decisions: For example, putting fruit at eye level ...

Forbes contributors publish independent expert analyses and insights. Economics professor and wearer of many hats. Why is economics called “the dismal science”? Is it because it’s no fun? Is ...

Economics is now one of the 10 most popular A-level subjects in the UK. There were more than 39,000 entries for the qualification this summer, according to new figures – up 7.3% on last year.

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 ...