Behavioral Economics is a discipline within economics that “takes into account the details of human behavior, including human psychology and sociology.”(Shiller, 2015).
Behavioral Economics defines humans as “predictably irrational” (Ariely 2009) in the sense that people tend to display limitations in rational calculation, self-interest, and willpower which, fortunately, are measurable and predictable.
According to Richard H. Thaler (2016), this interest in the underlying psychology of human behavior returns economics to its earliest roots. Scholars such as Adam Smith talked about such key concepts as loss aversion, overconfidence, and self-control.
This emerging discipline provides Behave4 with tools to implement its MAIN framework in companies, institutions, and the wider society to improve efficiency, satisfaction and life quality from a human-centric perspective.
