Fascinating Behavioral Economics

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People are more honest than they think they are

More money in a lost wallet means it is more likely to be returned

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The Three Laws of Human Behavior

By Aline Holzwarth When Isaac Newton put forth the three laws of motion more than three hundred years ago, he did something radical. It wasn’t his theories or the computations behind them that were so revolutionary — in fact, Newton’s first law is a mere reiteration of Galileo’s theory of inertia, formulated 50 or so years earlier.

From Newton’s three laws of motion to the three laws of human behavior!

Quite an interesting read! 

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A short course in Behavioral Economics by three pioneers of the field!

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Jobs in Applied Behavioral Science

Looking for a job in applied behavioral science? 

Here are some resources which can make your job search easier!

https://medium.com/@alineholzwarth/where-to-look-for-jobs-in-applied-behavioral-science-25ff43b6ea54

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Opinion | Irrational electoral preferences and fear of breaking ranks

People tend to vote along social identity lines and Indian politicians intuitively know how to make this work in their favour

Is voting more of a group behavior than being a rational decision taken by an individual? Do people vote based on religion or caste? Who wins?

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Why You Procrastinate (It Has Nothing to Do With Self-Control)

If procrastination isn’t about laziness, then what is it about?

Do we procrastinate due to low self esteem or self doubt?

Putting off a task can give us momentary relief but chronic procrastination can lead to a deteriorating mental and physical health.

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Are you over-estimating - or under-estimating - your capabilities? This free tool analyses your skill-based confidence using data from four studies that were conducted.

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Can behavioural insights be used for international development? | Apolitical

This piece was written by Dr. Kizzy Gandy, Principal Advisor within the Behavioural Insights Team’s (BIT’s) international development team. For more like this, see our government innovation newsfeed. As the original nudge unit, we’re often asked whether behavioural insights are relevant across different cultures and economies. Can we draw similar conclusions about people’s behaviour in Britain, where we were first set up, as in, say, Bangladesh?...

Applying insights from behavioural economics to the field! 

Here are some instances where the Behavioural Insights Team addressed development challenges in low and middle income countries.

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Ask a Behavioral Scientist: So, You’re Thinking About Getting a Ph.D. - Behavioral Scientist

Should you get a Ph.D? We asked four behavioral scientists for their advice.

Thinking about applying for a PhD in Behavioral Science? 

Four behavioral scientists have some advice for you!

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A new study from Yale scientists shows how uncertainty helps us learn

Put yourself in an unpredictable situation, and watch magic happen.

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Restaurants are increasingly driving patrons down a rapid assembly line featuring a giant array of possibilities, some a little obscure. Turmeric almonds or pickled ginger?

Spoilt for choice? An era of self order kiosks!

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Behavioural economics needs a unifying theory

Economics models are mathematical in nature, and representing the full complexity of human behaviour with math would make models unwieldy

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Why Narendra Modi needs to understand Richard Thaler

Richard Thaler and Cass Sunstein’s ‘nudge’ could very well be of use to the Narendra Modi govt as it’s keen on changing citizen behaviour in areas as diverse as cleanliness and digital money

Time to develop a Nudge Unit in India?

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Richard Thaler changed my life (and everybody else’s) | Cass R. Sunstein

Richard Thaler’s academic interests are a direct outgrowth of his personality. He’s full of mischief and a ton of fun

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Richard Thaler has challenged the way we think about the economy, and has helped revolutionize the field of economics

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US students aren’t bad at math—they just aren’t trying hard enough

Behavioral economists found that US students didn't perform well on international standardized tests due to a lack of effort.

Do we need monetary incentives to perform well in Math?

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What we learn when Cameroonian toddlers ace the marshmallow test of self-control

We could all learn something about willpower from 4-year-old Cameroonians.

Marshmallow test on Cameroonian children and German children! Who can resist?