What exactly is ‘behavioral’ economics? In understanding the distinction between behavioral and theoretical economics, it’s important to understand that within the ‘traditional’ view of economic theory, it is assumed individuals behave in a vacuum. In practice, however, the attitudes and wants of individual actors is well, human. In an interview with Yale professor Robert Shiller, Nigel Warburton clarifies this: So what you’re saying [...]
For many people, saving money isn’t just difficult; it’s a foreign concept. A recent study found that 58% of Americans do not have a formal retirement plan in place.¹ Why is even thinking about saving money so daunting to so many of us? We spoke with Dan Ariely, professor of psychology and behavioral economics at [...]
In this program, we visit employers implementing the program, who agree it has dramatically reduced employee turnover and increased productivity.
Watch Can Violent Video Games Play a Role in Violent Behavior? on PBS. See more from PBS NewsHour. Media outlets spent the day speculating about a CBS report that Sandy Hook shooter Adam Lanza had blacked out his bedroom and game-room windows, and spent hours playing violent video games. But what do we know about [...]
Why do we cheer for the death penalty? After an incident at a recent Republican debate, Presidentiality looks back at thousands of years of evolution, to understand why human beings get off on retribution.
Sometimes making a choice involves a complicated mental gymnastics designed to convince ourselves that the snazzier option is also the rational choice, writes Dan Ariely.