Prospect theory [1, 2, 3] has perhaps been one of the most influential theories within psychology and behavioral economics. Daniel Kahneman won the Nobel prize for this work. Prospect theory and ...

Behavioral economics helps investors understand irrational market behaviors and customer choices. Examples of behavioral economic theories include loss aversion and sunk-cost fallacy. Recognizing ...

Physicists have developed a dynamical model of animal behavior that may explain some mysteries surrounding associative learning going back to Pavlov's dogs. Physicists have developed a dynamical model ...

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Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...