Insights from behavioural (and traditional) economics help explain why discounting – both real and fake – is such an effective marketing ploy.
The Australian Labor Party's economic agenda seems to have overlooked three fundamental principles of behavioural economics.
Online bookies can tap into the wisdom of the crowd better than pollsters.
The IKEA effect is caked in myth, but the phenomenon of consumers valuing their own efforts is proven and potent.
Most pricing structures nudge us to spend more. But there's a particularly cunning type of pricing that can get us to swap our preference from a cheaper to a more expensive option.
Picking an dud superannuation fund can cost you about 13 years’ pay over a working lifetime, roughly the value of an apartment in Melbourne or Sydney.
Winning big often involves looking for the opportunities that are the opposite of what everyone else is doing.
Overseas research says putting the clock forward hurts the financial markets. But not in Australia, according to a real-world study along the Queensland-NSW border.
Nudges were meant to be a good alternative to regulations, but it may be time to regulate nudges.
We don't actually know how NDIS participants weigh their personal goals and then make choices about achieving them through services, supports, therapies and interventions.
A new study claiming to debunk this core part of behavioural economics suggests we really need a new and improved model for loss aversion.
Sin taxes won’t be enough to deal with the obesity epidemic, but innovation just might be.
Obesity is not a rational choice. But there is scope for governments to get involved and improve our options.
A psychological tendency to gamble rather than accept certain losses, may lead to a surge in support for a harder Brexit.
While disaster insurance would go a long way in averting losses, demand for cover is still lower than expected.
There may be altruistic reasons for companies to adopt 'pay as you want' pricing, but research shows it can lead to an increase in revenue.
When we lust for riches, fear being left behind and identify strongly with some moral cause all at once, reason and willpower don't really stand a chance.
Research shows that corporate wellness programs don't really work. If companies want to boost employee health they should consider designing the workplace to encourage the right behaviour.
Treasury modelling suggests that limiting negative gearing will lead to small change in prices. But behavioural economics shows it all depends on how the policy is framed.
After two Nobel prize wins for behavioral economists, the burgeoning field has demonstrated its importance in shaping effective economic and government policy.