Richard Holden is an ARC Future Fellow. Welcome to our series on economic theories that are changing the way we think. Today, Richard Holden explains two hotly contested theories that attempt to ...

Editor's Note: This is the first of a two-part post discussing behavioral economics and how it is being used by British policymakers. Part 1 below focuses mostly on the development and general ...

When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Richard Thaler won the Nobel prize for economics this week. Thaler won it for his work on ...

Regret theory postulates that decision‐makers do not solely evaluate outcomes based on traditional expected utility; they also incorporate the anticipated emotional response resulting from realising ...

Consumer decisions today are no longer driven by logic alone; they reflect complex psychological and economic interactions. This is where behavioural economics plays a vital role revealing how ...

Robert Hoffmann works for RMIT University. Thomas Schelling, the co-recipient of the 2005 Nobel Memorial Prize in Economics Sciences, died yesterday at the age of 95. While not as famous as other ...

Economics needs to change. By this I do not mean that the structure of the economy itself needs to change, although reform is clearly needed on that front. Rather, I refer to the academic discipline ...

When economists at the University of Toronto started to tell undergraduates in 2014 how many hours extra work they needed to put in to boost their grades, they hoped it would encourage the students to ...