behavioral economics

The Tower of London has been a prison, a palace, and a fortress. Now, it offers a lesson in behavioral economics.

Business agreements are usually secured by written agreements that define the obligations of the parties and state what happens under various conditions. Having been party to a few business deals launched based mostly on enthusiasm and…

Nobody is doing more to add to our knowledge of the irrational side of human behavior than Dan Ariely. Not only does he conduct experiments that are elegant in their simplicity, but he writes about his work and that of other researchers in…

Book Review: Secrets of the Moneylab: How Behavioral Economics Can Impact Your Business by Kay Yut Chen with Marina Krakovsky Economics can be dry stuff - remember "macro," "micro," and supply/demand curves? Fortunately, Secrets of…

Predictably Irrational by Dan Ariely does a great job of demolishing the idea that people make decisions in a rational manner. Ariely, a behavioral economist at Duke, describes dozens of experiments that show how we procrastinate, when we…