behavioral economics

Daniel Kahneman, who received the Presidential Medal of Freedom in 2013, has died. He merged psychology and economics to help launch the growing field of "behavioral economics."

Economy

Best-selling psychologist of 'Thinking, Fast and Slow,' dies at 90

5:13pm March 27, 2024

by Scott Horsley

One of the founders of behavioral economics, who incorporated human quirks into the study of how people make economic decisions, has died. Daniel Kahneman was 90.

Frustrated investor, losing to a drunken monkey

There's A Way You Can Beat The Best Investors. You've Just Got To Know When To Sell

3:09pm August 03, 2021

by Greg Rosalsky

A new study finds finance professionals fail at their jobs in a surprising way. There are lessons for all of us.

The Behavioral Economics Manifesto Gets Revised

3:23pm July 27, 2021

by Greg Rosalsky

We speak with the Nobel Prize-winning founder of behavioral economics about the new — and last — version of his classic book, Nudge.

People walk near the Chicago Theatre on Tuesday in the city's Loop community. The Centers for Disease Control and Prevention eased its guidelines on the wearing of masks, saying fully vaccinated Americans don't need to cover their faces anymore in most se

The CDC Is Gambling On Relaxed Mask Rules To Get More People Vaccinated

4:02pm May 20, 2021

by Yuki Noguchi

Fully vaccinated people got the green light last week to resume much of their lives without masks. Behavioral experts say that as an incentive to get more people vaccinated, it's far from a sure bet.

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Bilal Chaudhry, 16, picks up a dozen eggs to give to a person in a car during a free egg distribution in Cumru Township, PA. The distribution was held to help people during the COVID-19 outbreak.

Theory Vs. Reality: Why Our Economic Behavior Isn't Always Rational

6:02pm May 28, 2020

We don't always behave the way economic models say we will. We don't save enough for retirement. We give money to charity. This week, why we act in ways that go against our "rational" self-interest.

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The Limits Of Nudging: Why Can't California Get People To Take Free Money?

6:30am February 04, 2020

by Greg Rosalsky

Researchers tried to help low-income workers sign up for free money with letters and text messages. They failed.

Daniel Kahneman at NPR with Hidden Brain's Shankar Vedantam for the taping of our 100th podcast episode.

Science

Daniel Kahneman On Misery, Memory, And Our Understanding Of The Mind

9:00pm March 12, 2018

Economic theory rests on a simple notion about humans: people are rational. But a half century ago, two psychologists shattered these assumptions.

A trader fills orders Monday in the Standard & Poor's 500 stock index options pit at the Chicago Board Options Exchange. Watching market numbers plummet can make investors queasy, but analysts say keeping a level head through volatility is the best course

Economy

Keep Calm And Carry The 1: Investors Often Miscalculate Amid Volatility

8:07pm August 25, 2015

by Yuki Noguchi

Selling after a market plunge, financial experts say, just locks in the loss and prevents investors from participating in the rebound. But human psychology can make that advice excruciating to follow.

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No. 1 With A Bullet Point: To Get Research Cited, Make Sure It's Listed First

8:25am July 15, 2015

Sometimes our eyes are just drawn to the top of a list. Using a regular e-mail of headlines sent out to economists, a study found the ones listed higher get read more — and cited more in future work.

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Still from the 'organic' McDonald's prank.

How 'Foodies' Were Duped Into Thinking McDonald's Was High-End Food

5:54pm November 04, 2014

by Maria Godoy

A viral video shows people lauding fare billed as an "organic" fast-food option that was actually McDonald's. It wasn't just pranksters playing tricks on these poor folks, but maybe their brains, too.