What explains the differences in economic decisions amongst poor and rich individuals? In 2014 Johannes Haushofer and Ernst Fehr, professors at Princeton and Zurich University, respectively, have written the article “On the Psychology of Poverty” for the Science magazine (original version here). They show evidence that poverty causes psychological consequences such as negative affectivity and […]
Judd B. Kessler is an Assistant Professor of Business Economics and Public Policy at The Wharton School, University of Pennsylvania. His research interests cover Experimental Economics, Public Policy and Market Design. In March, he visited Bocconi University as a part of seminar series co-organised by B.BIAS and BELSS (Bocconi Experimental Lab for Social Sciences) and we […]
What is behavioural economics (BE)? After World War II, human rationality became the core hypothesis of neo-classical economics. Even though “rationality” can have different meanings, it is very precisely defined for the economists – an assumption that we all maximise our utility functions. To this end, we take into account all the available information, think […]
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