Title: Behavioral economics - Wikipedia
Headings: Behavioral economics
Behavioral economics
Contents
History
Nobel laureates
Bounded rationality
Prospect theory
Nudge theory
Criticisms
Behavioural economics concepts
Search heuristics
Satisficing
Directed cognition
Elimination by aspects
Heuristics and cognitive effects
Mental accounting
Anchoring
Herd behavior
Framing effects
Biases and fallacies
Present bias
Gambler's fallacy
Narrative fallacy
Loss aversion
Recency bias
Confirmation bias
Familiarity bias
Status quo bias
Behavioral finance
Traditional finance
Evolution
Quantitative behavioral finance
Economic reasoning in animals
Animal studies
Labor supply
Demand
Applied issues
Intertemporal choice
Behavioral game theory
Artificial intelligence
Other areas of research
Natural experiments
Criticism
Responses
Related Fields
Experimental economics
Neuroeconomics
Evolutionary psychology
Notable people
Economics
Finance
Psychology
See also
References
Citations
Sources

Content: Behavioral economics - Wikipedia
Behavioral economics
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Part of a series on
Nudge theory
Social scientists
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Shlomo Benartzi
Cass Sunstein
Maya Shankar
Government programs
Race to the Top
Affordable Care Act tax provisions
Social Credit System
Vision Zero
Government agencies
Behavioural Insights Team (UK)
Social and Behavioral Sciences Team (US)
Related concepts
Behavioral economics
Social proof
Default effect
Paternalism
Libertarian paternalism
Choice architecture
Social engineering
IT-backed authoritarianism
Design for behaviour change
Nudge theory in business
Loyalty program
Safety culture
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The behavioral economics concept on "nudging" people's behavior and actions is often illustrated with this urinal with a housefly image embossed in the enamel; the image "nudges" users into improving their aim, which lowers cleaning costs. Behavioral economics (also, behavioural economics) studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals and institutions and how those decisions vary from those implied by classical economic theory. Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. The study of behavioral economics includes how market decisions are made and the mechanisms that drive public choice. Contents
1 History
1.1 Nobel laureates
2 Bounded rationality
3 Prospect theory
4 Nudge theory
4.1 Criticisms
5 Behavioural economics concepts
5.1 Search heuristics
5.2 Heuristics and cognitive effects
5.3 Biases and fallacies
6 Behavioral finance
6.1 Traditional finance
6.2 Evolution
6.3 Quantitative behavioral finance
7 Economic reasoning in animals
7.1 Animal studies
7.2 Labor supply
7.3 Demand
8 Applied issues
8.1 Intertemporal choice
8.2 Behavioral game theory
8.3 Artificial intelligence
8.4 Other areas of research
8.5 Natural experiments
9 Criticism
9.1 Responses
10 Related Fields
10.1 Experimental economics
10.2 Neuroeconomics
10.3 Evolutionary psychology
11 Notable people
11.1 Economics
11.2 Finance
11.3 Psychology
12 See also
13 References
13.1 Citations
13.2 Sources
History
Adam Smith, author of The Wealth of Nations (1776) and The Theory of Moral Sentiments (1759). During the classical period of economics, microeconomics was closely linked to psychology. For example, Adam Smith wrote The Theory of Moral Sentiments, which proposed psychological explanations of individual behavior, including concerns about fairness and justice. Jeremy Bentham wrote extensively on the psychological underpinnings of utility.