Category

Behavioral

behavioral

By Arav Talati. Edited by Arjun Chandrasekar. Overview Also referred to as ‘over choice, the choice overload theory occurs because of an abundance of choices for consumers. While we tend to assume that more choice is a good thing, in many cases, research has shown people get overwhelmed when presented with a large number of...
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By Arav Talati. Edited by Arjun Chandrasekar. Overview The field of behavioral economics is now a widely explored area as it combines two fields: psychology and economics. Richard Thaler is widely regarded as the most significant contributor to the field, but other figures like psychologist Daniel Kahneman (who went on to receive a Nobel Prize...
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By Arav Talati. Edited by Arjun Chandrasekar. Introduction According to Investopedia, “Behavioral economics draws from the fields of psychology and economics to explore the study of judgments and choices that people make.” People make thousands of economic decisions throughout their lives: everything from purchasing goods and services to buying and selling stocks. Behavioral economics studies...
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By Arjun Chandrasekar. Brief History Richard Thaler is known as the founding father of behavioral economics. He is the 2017 recipient of the Nobel Memorial Prize in Economic Sciences for his exceptional work and contributions to studying behavioral economics. He is also well known for his best-selling book, Nudge. I encourage everyone reading this to...
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