Intertemporal choice is one of the foundational models in economic theory. It sets the human lifetime in just two periods – today and tomorrow – to evaluate how people make choices over time. Generally, an individual can prefer to save money today and spend more tomorrow, or borrow today and spend less tomorrow. Quite often, […]
Author: Caterina Molinari
Even though most people have heard of the Nudge Theory at least once, it is not so common to come across a real life application of this principle. Nudge Theory, developed by Richard Thaler and Cass Sunstein, is a behavioral economics concept that suggests subtle changes in how choices are presented can significantly influence people’s […]
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