Behavioral Economist

Behavioral Economist

A theorist who attempts to explain economic participants' decisions as those of rational actors looking out for their self-interest given the sometimes inefficient nature of the market. Tracing its origins to Adam Smith's The Theory of Moral Sentiments, one of behavioral economists' primary observations holds that investors and people in general make decisions on imprecise impressions and beliefs rather than rational analysis. A second observation states that the way a question or problem is framed to an investor will influence the decision he/she ultimately makes. These two observations largely explain market inefficiencies; that is, behavioral economists hold that markets are sometimes inefficient because people are not mathematical equations. Behavioral economics stands in stark contrast to the efficient markets theory. See also: Naive diversification, Formula plan, Subjective probabilities.
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Research from experts like motivational researcher Carol Dweck and behavioral economist Dan Ariely explains what's going on.
But it can also be tied to tapping the so-called "mass affluent" retail market and arguably, to academic work by the behavioral economist and recent Nobel Laureate Richard Thaler who argues that we aren't rational consumers, after all.
The answer, the behavioral economist said, is that we fall somewhere between the logical Star Trek science officer and the emotional cartoon dad.
A behavioral economist I met a couple of years ago was talking about maximizing data usage to improve retirement readiness at a particular retirement plan.
In addition, Hyman and Kovacic point out that, "The CFPB hired a prominent behavioral economist [Sendhil Mullainathan] as its first Assistant Director of Research," noting that "[m]any behavioral economists believe insights from research in consumer psychology justify expansive regulatory intervention into financial services markets.
SSGA reached out to Harvard University behavioral economist David Laibson, who has done pioneering work on how aging affects financial decisionmaking.
Earlier this year, the company announced it received pending B-Corp status, hired senior insurance executives and behavioral economist Professor Dan Ariely, and set records with its Sequoia and Aleph VC funding.
Dan Geller, a San Francisco-based behavioral economist who developed the Monday Anxiety Index that he claimed predicts economic trends.
Pivet, which is about the adventures of a 12-year-old mapmaker, as well as behavioral economist, Dan Ariely.
This is referred to as "system 1" and "system 2" styles of decision making, first described by Nobel Prize-winning behavioral economist Daniel Kahneman.
Behavioral economist Richard Thaler documented the almost magical powers of automatic opt-in programs in his two bestselling books "Misbehaving" and "Nudge.
Richard Thaler, a distinguished behavioral economist at the University of Chicago, has taken the profession to task for ignoring real-world behavior in favor of models that assume people are rational optimizers.

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