Jun 25 Watch 8:32 How economists think differently from other humans By PBS News Hour In economics, a theory has long prevailed that markets are based on people making rational choices. But behavioral economist Richard Thaler is seeking to prove that there is far more randomness to our financial decisions. Economics correspondent Paul Solman talks… Continue watching
Jan 08 This South Bronx kid would have failed the marshmallow test. So how did he get into Yale? By Simone Pathe The marshmallow test is famous: Give a kid a marshmallow and see if he or she can show enough self-control to hold off eating it and, as a reward, enjoy a second. Its results have often be viewed as fatalistic… Continue reading
Dec 25 What are your Christmas gifts worth to you? By Simone Pathe Those gifts you opened this morning -- they're worth less to you than the gift-giver paid for them, no doubt. That's the deadweight loss of Christmas for you. But plenty of economists are saying "bah, humbug" to economic rationality and… Continue reading
Dec 19 How economic theory can help stop sexual assault By Michael Chwe Economist Michael Chwe turns to game theory to explain how a new reporting technology and social norms marketing can help reduce the incidence of sexual assault. Continue reading
Dec 18 Watch 6:34 This holiday season, behavioral economics could be a gift that keeps giving By PBS News Hour Do you struggle with slouching, overeating or oversleeping? This holiday season, there’s a gift for that. Economics correspondent Paul Solman talks to Sendhil Mullainathan about consumer innovations that promise to improve your life through behavioral economics. Continue watching
Dec 18 Where to give your money this holiday season, according to behavioral economics By Paul Solman If you're fortunate enough to be able to donate money this holiday season, which organizations will be receiving your checks? Paul Solman speaks with Yale behavioral economist Dean Karlan about the causes that are using funds most efficiently. Continue reading
Nov 19 Should bankers take a Hippocratic Oath? By Simone Pathe Thanks to recent financial scandals and fraud, public trust in the financial industry is low. But a new study published in the journal Nature shows that bankers, themselves, aren't dishonest people; the industry makes them behave dishonestly. What is it… Continue reading
Oct 28 How cocoa traders make money on the Ebola scare By David Martin Days before Halloween, the price of cocoa, and therefore chocolate bars, is up. But Ebola isn't actually threatening the cocoa supply in West Africa, says commodities trader David Martin. Instead, the market is reacting to human fears, and for traders… Continue reading
Jul 20 Can you be nudged into saving money? Some companies are banking on it By Sam Weber New evidence from behavioral economists, researchers who study the psychology behind financial decisions, is at the root of what a number of major companies are using to help consumers get a better fiscal foothold. Continue reading
Mar 05 Are your grades killing your grandmother? Dan Ariely’s prescription: The perfect MOOC By Dan Ariely More college students lose grandparents right before taking college exams. Duke professor and irrationality expert Dan Ariely has a solution: Enroll in Massive Open Online Courses to spare grandparents some fatal stress. Continue reading