--- title: Behavioral Economics description: Behavioral economics combines psychology and economics to study why people make irrational financial decisions. Learners will understand cognitive biases, heuristics, and choice architecture, and how these factors influence consumer behavior and policy design. category: finance-economics subcategory: economics-(social-lens) difficulty: beginner, intermediate, advanced url: /subject/behavioral-economics --- # Behavioral Economics Behavioral economics combines psychology and economics to study why people make irrational financial decisions. Learners will understand cognitive biases, heuristics, and choice architecture, and how these factors influence consumer behavior and policy design. ## Available Resources 1 Videos • 4 Books • 2 Courses • 1 Websites ## Videos ### 1. Daniel Kahneman: The riddle of experience vs. memory Kahneman's 2010 TED talk distinguishing the experiencing self, which lives moment to moment, from the remembering self, which scores an event by its peak and ending. Explains why recalled satisfaction diverges from experienced wellbeing. **Difficulty:** Beginner | **Price:** Free **Link:** https://www.youtube.com/watch?v=XgRlrBl-7Yg **Tags:** behavioral-economics, decision-making, memory, wellbeing ## Podcasts ### 1. Choiceology **Author:** Charles Schwab Can we learn to make smarter choices? Listen in as host Katy Milkman--behavioral scientist, Wharton professor, and author of How to Change--shares stories of high-stakes decisions and what research reveals they can teach us. Choiceology, an original podcast from Charles Schwab, explores the lessons of behavioral economics to help you improve your judgment and change for good. Season 1 of Choiceology was hosted by Dan Heath, bestselling author of Made to Stick and Switch. Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options. (0321-1S88) **Difficulty:** Beginner | **Language:** en | **Price:** Free **Link:** https://www.schwab.com/resource-center/insights/podcast **Tags:** behavioral-economics, decision-making, cognitive-bias, personal-finance ### 2. The Brainy Business **Author:** Melina Palmer Melina Palmer's podcast translating behavioral economics research into practical business and marketing applications. Episodes explain concepts such as anchoring, loss aversion, framing, social proof and choice architecture, showing how these biases shape purchasing decisions and how businesses can design offers around them. **Difficulty:** Beginner | **Language:** en | **Price:** Free **Link:** https://thebrainybusiness.com **Tags:** behavioral-economics, consumer-psychology, cognitive-biases, pricing, marketing ### 3. The Decision Corner **Author:** The Decision Lab The Decision Corner connects you with cutting-edge insights from the world's best applied behavioral scientists to bring wisdom to your daily and professional life. Rather than talking about nudges and trying to codify science into design principles, TDC goes deep and finds out just how the world's brightest minds solve complex real-world problems using the social sciences. **Difficulty:** Beginner | **Language:** en | **Price:** Free **Link:** thedecisionlab.com **Tags:** behavioral-science, behavioral-economics, applied-psychology, decision-making ### 4. Choiceology with Katy Milkman **Author:** Katy Milkman Each episode pairs a narrative account of a high-stakes decision with the published experiment that explains it, and interviews the researcher who ran it. Recurring subjects include sunk cost, descriptive social norms, present bias, and framing effects. **Difficulty:** Beginner | **Language:** English | **Price:** Free **Link:** https://podcasts.apple.com/us/podcast/choiceology-with-katy-milkman/id1337886873 **Tags:** behavioral-economics, decision-making, cognitive-bias, behavioral-science ## Books ### 1. Influence, New and Expanded: The Psychology of Persuasion **Author:** Robert B. Cialdini Cialdini's synthesis of three decades of social-psychology field experiments into seven principles of compliance: reciprocity, commitment and consistency, social proof, authority, liking, scarcity, and unity. The expanded edition adds new studies and online-persuasion cases. **Difficulty:** Beginner | **Language:** English | **Price:** Paid **Link:** https://www.amazon.com/dp/0062937650?tag=edmonddante07-20 **Tags:** persuasion, social-psychology, influence, compliance, cialdini ### 2. Thinking, Fast and Slow **Author:** Daniel Kahneman Nobel Prize-winning psychologist's groundbreaking work on two systems of thought: fast intuitive thinking and slow deliberative reasoning, with implications for decision-making. **Difficulty:** Intermediate | **Language:** English | **Price:** Paid **Link:** https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555?tag=edmonddante07-20 **Tags:** book, business-entrepreneurship, economics ### 3. Misbehaving **Author:** Richard H. Thaler Thaler's account of how behavioural economics grew from a list of anomalies orthodox theory could not explain into an accepted field. Covers mental accounting, endowment effects, and fairness, and the disputes with traditional economists along the way. **Difficulty:** Intermediate | **Language:** English | **Price:** Paid **Link:** https://www.amazon.com/dp/0241951224?tag=edmonddante07-20 **Tags:** books, humanities-social-sciences, economics ### 4. Predictably Irrational **Author:** Dan Ariely Ariely presents experiments showing that deviations from rational choice are systematic rather than random: the pull of free items, arbitrary anchors on price, and the effect of social versus market norms on effort and honesty. **Difficulty:** Intermediate | **Language:** English | **Price:** Paid **Link:** https://www.amazon.com/dp/0007256531?tag=edmonddante07-20 **Tags:** books, humanities-social-sciences, economics ## Courses ### 1. Behavioral Economics Spanish-language course from Pontificia Universidad Católica del Perú on designing nudges. Covers cognitive biases, the COM-B framework of capability, opportunity and motivation, and ethical limits, ending with a behavioural intervention designed for a real case. **Difficulty:** Intermediate | **Language:** English | **Price:** Free **Link:** https://www.coursera.org/learn/behavioral-design-pucp **Tags:** courses, humanities-social-sciences, economics ### 2. Behavioral Economics and Public Policy Six-module IIM Bangalore course on how people actually make decisions, covering bounded rationality, heuristics, loss aversion, fairness and nudges. Learners apply these ideas to designing public programmes and workplace strategies that account for predictable behavioural biases. **Difficulty:** Intermediate | **Language:** English | **Price:** Free **Link:** https://www.edx.org/learn/behavioral-economics/indian-institute-of-management-bangalore-behavioral-economics-and-public-policy **Tags:** behavioral-economics, nudges, loss-aversion, choice-architecture, public-policy ## Websites ### 1. behavioraleconomics.com BehavioralEconomics.com is a comprehensive resource hub for understanding how psychology shapes economic decision‑making. It features accessible articles, explanations of key biases, summaries of experiments, and insights into applications in policy, marketing, and business. **Difficulty:** Intermediate | **Language:** English | **Price:** Free **Link:** https://behavioraleconomics.com **Tags:** websites, humanities-social-sciences, economics --- *This content is part of Dantes.io - Your Treasure Map to Knowledge* *Curated by humans at Dantes.io. Personal study use welcome; republishing this curation requires permission (team@dantes.io).* View this page online: https://dantes.io/subject/behavioral-economics