Richard Thaler thinks retail investors shouldn't be trading individual stocks, and such trading is more like entertainment ...

Behavioral economics uses an understanding of human psychology to account for why people deviate from rational action when they’re making decisions. In the model of rational action assumed by ...

Learn what a price taker is, see examples in competitive markets like grain and oil, and understand how they differ from price makers in economics.

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Providers' ability to reach patients through digital platforms (texting, email and chat) ...

People donate to charity for many reasons. Hardly an objectionable claim. Generosity. Self-satisfaction. Guilt. Reciprocity. Duty. Prestige. People also do not donate to charity for many reasons. Also ...

The National Academies of Sciences, Engineering, and Medicine are private, nonprofit institutions that provide expert advice on some of the most pressing challenges facing the nation and world. Our ...

Discover what rent seeking is in economics, its implications, and see examples of how entities gain wealth without societal ...