behavioral economics

English

Alternative forms

• behavioural economics

Noun

behavioral economics (uncountable)

1. (economics, psychology) A field of economic analysis concerned with the influence of psychological factors on the economic decision making of individuals or institutions.
   • 2013 August 1, Bill Curry, “Canada studies Britain’s ‘nudge unit’ for ways to give the public a push”, in The Globe and Mail‎^[1]:

     Now Canada is looking into this growing field of behavioural economics. […] Supporters view behavioural economics as a complement to classical economics, which assumes people make rational, well-informed decisions that are in their best interest.

Related terms

• behavioral economist