Behavioral economics provides a framework to understand when and how people make mistakes. The new field of behavioral economics blends insights of psychology and economics, and provides some valuable ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

I hold an economics degree from the University of Notre Dame (Ph.D., 1989), the university prominently featured in Peter Monaghan’s article “Taking On ‘Rational Man’” (January 24). Permit me two ...

You reported on a game theory simulation that showed people failed to reach a state of rational action, even after multiple failures and repeated feedback. This was said to be in variance with ...