Behavioral Economics

Behavioral Economics

Book cover for "Thinking Sideways" by Jennifer Shahade, featuring chess pieces and orange-tan checkered pattern; subtitle: "How to Think Like a Chess Player and Win at Life.
In this excerpt from her new book, Jennifer Shahade argues that the smartest move in life, as in chess, is sometimes a sideways one.
Angus Fletcher, a man in a suit and glasses, stands in profile, touching his face in a dimly lit room with blurred lights and equipment in the background.
The great investor instinctively knew that humans are much smarter than computers in volatile environments. So he bet on common sense.
A man in a light blue shirt sits on a chair in a white studio with a teal background featuring graphs and charts.
1hr
“Let me walk you through the biggest traps that you should be aware of that are a danger to your financial wellbeing.”
Two people face each other closely, each sipping from their own straw. The blue-tinted image, echoing the 37% rule of making choices, reveals only part of their faces, hinting at a moment of decision or connection.
When making any tough decision, the key is not to be overly exploratory or exploitative.
Aerial view of two groups of people waiting in line and walking on a paved surface, casting long shadows in the sunlight.
In this excerpt from "Lucky By Design," Judd Kessler explains how opportunity costs shape our choices and why time is the real price we pay.
Book cover for "The Art of Spending Money" by Morgan Housel, featuring an origami bird made from money and a quote from Steven Bartlett at the top, exploring how to be miserable spending money unwisely.
In this excerpt from "The Art of Spending Money," Morgan Housel lays out the spending and financial habits guaranteed to end in regret.
A pink human profile with a square cutout in the head is beneath a green triangle containing scales of justice.
Members
Behavioral economists Daniel Kahneman and Amos Tversky won the Nobel Prize for mapping the human mind's irrational decision-making biases, and now, with insights from Julia Galef of the Center for Applied Rationality, we can learn to avoid these pitfalls.
A collage with graphs, a flower, a container ship, and a hand giving a thumbs-up—hinting at lucky investors—overlaid with the title “THE NIGHTCRAWLER” in bold letters at the top.
Welcome to The Nightcrawler — a weekly newsletter from Eric Markowitz covering tech, innovation, and long-term thinking.
Barry Ritholtz, a man in a suit and tie, stands confidently before a blue zigzag line on a light backdrop.
Barry Ritholtz — market commentator, founder of Ritholtz Wealth Management, and podcast host — shares what really trips investors up.
A bee with pollen on its legs hovers near a pink flower, casting a spell of psychological magic against the clear blue sky.
Welcome to The Nightcrawler — a weekly newsletter from Eric Markowitz covering tech, innovation, and long-term thinking.
A person sits on a sidewalk near an escalator entrance, next to an overturned shopping cart on a metal grate.
An evidence-based policy movement is arming the fight with tools and programs that are more effective than ever before.
Illustration of a person standing on a ladder inside a large head with a maze-like brain exposed, symbolizing introspection or exploration of the mind.
When appraising human behavior, people tend to forgo the lessons of psychology in favor of assumption and anecdote.
Image of Earth set against a black background with the text "A Volatile World" in large white letters.
11mins
“We've engineered a volatile world where Starbucks is completely unchanging from year to year, but democracies are collapsing and rivers are drying up.”
Open book with a gradient bar design on the left page and an illustration of founders sharing wisdom around a fire on the right page.
Startup success can often hinge on a key lesson derived from behavioral science ... and Jerry Seinfeld's "Night Guy vs. Morning Guy" routine.
A man connects an electric car to a charging station mounted on a house wall next to a large shrub.
Electric vehicle sales are rising but public charging in cities is still lacking.
A dark cloud, laced with cynicism, is topped with a colorful iridescent layer against a dim sky.
Stanford psychologist Jamil Zaki discusses the dangers of cynicism and how skepticism can invigorate our relationships and communities.
A collage features a tennis player and a basketball player against a backdrop of financial charts, graphs, and mathematical equations on a checkered pattern.
How Daniel Kahneman and Amos Tversky cracked open behavioral economics and enlightened all our choices.
Two men in profile face each other. One points a finger at the other, who remains still, poised to embrace counterarguments. The image features a blue color overlay.
There's value to be found in the arguments that make you uncomfortable — especially in a culture that has trained us to avoid them.
A black and white portrait of a man with a large mustache is overlaid on a green collage containing a baseball and a baseball field, subtly evoking the philosophy of hindsight.
Whenever something goes wrong — in business as in life — we tend to get cause and effect totally muddled up.
A black-and-white illustration depicts five individuals wearing robes and garlands, reclining and sitting around a table with food and drink, reminiscent of a classical or ancient feast, evoking scenes one might imagine from the time of Confucius.
When stuffed and staring down the last bite, you might hear your mother's voice in your mind.
An image showing a marble statue of a man on the left, transitioning with a stoic edge into a distorted, pixelated region, followed by part of a man's face on the right.
The best of all investor attributes is easily attained — and unbeatable in combination with other advantages.
A digital collage featuring a woman's face split with computer code and abstract geometric shapes in green, black, and gray tones, representing the complexity of decision-making.
"How long someone thinks about [a] problem is a really good proxy of how humans behave."
Close-up of a hand holding a blue object, with a digitally altered, grainy effect and a circular line overlay on the image. The background features a mix of white, red, and pink hues.
GLP-1 agonists may be able to treat addiction, prevent Alzheimer’s, and more.
Abstract film strip design featuring geometric shapes and silhouettes in a multicolored grid pattern, evoking artistic expression and creative filmography.
Admitting that we know little about our future selves can radically improve our decision-making.
A digitally rendered yellow sponge, inspired by the "Twinkie defense," depicted within geometric wireframe shapes on a black background, symbolizing conceptual and design analysis.
In the murder trial of Dan White, the defense touched on diet as a cause for White's actions. It has become known as the "Twinkie defense."
View of a cityscape through a large glass window framed by steel beams, showcasing high-rise buildings burdened with debt under an overcast sky.
Consumer debt shapes American lives so thoroughly that it seems eternal and immortal, but it’s actually relatively new to the financial world.
Three red dice in mid-roll on a green surface.
6mins
Why most billionaires aren’t geniuses and most geniuses aren’t billionaires, explained by political scientist Brian Klaas.
A senior man, Daniel Kahneman, with glasses, wearing a dark suit and a blue shirt, standing against a gray background.
Kahneman was a world-changing psychologist — even with his lesser known ideas on life satisfaction.
A statue of a man with his hands on his head, symbolizing regret.
A simple dice game shines a bit of light on the psychology of regret.