Buffett rejects the efficient markets hypothesis, but still recommends low-cost index funds for most ordinary investors.

Mainstream economists and others speak of the Consumer Price Index as the measure of inflation. Yet, the CPI is nothing more ...

At a recent Columbia SPS Author Spotlight, ERM Associate Director and Lecturer Rich Lauria and Capita Solutions CEO John Burkhardt explored how managing risk starts with understanding the mind.

Artificial intelligence is exhibiting the same telltale signs seen in earlier investment bubbles that eventually collapsed, ...

Crucially, this is not just academic debate. The UK has already experimented with elements of new economics, for example, ...

Economists and psychologists work together to understand how human behavior impacts people's decision-making in the marketplace.

Thaler says you should be especially wary when you're in auctions or bidding wars with lots of people. If you're the winner ...

The long reach of life experience affects real-world economic outcomes, for policymakers and consumers alike On October 29, 1929, the roaring twenties came to a sudden close in the United States. In ...

Two researchers at Stanford University suggest in a new preprint research paper that repeatedly optimizing large language models (LLMs) for such market-driven objectives can lead them to adopt bad ...

It is a bit difficult to say what criteria should be used to judge the success or failure of a research initiative on the scale of merging psychology and economics. Two reasonable criteria, at least ...

This fall’s Foltyn Seminar brought together a leading expert in behavioral economics and key figures of community programs in Delaware to better understand how individuals make decisions and how those ...

Behavioral economics helps investors understand irrational market behaviors and customer choices. Examples of behavioral economic theories include loss aversion and sunk-cost fallacy. Recognizing ...