Behavioral science delves into human decision-making and actions through an interdisciplinary lens, blending insights from psychology, economics, and...
Behavioral science is an interdisciplinary field that studies human decision-making and behavior, drawing primarily from psychology, economics, and neuroscience to understand why people act the way they do.
Traditional economics often assumes rational actors, while behavioral science challenges this by integrating psychological insights to show how cognitive biases, emotions, and social factors lead to predictable irrationalities in economic choices.
Nudges are subtle interventions or changes in the 'choice architecture' that guide people towards better decisions without limiting their freedom of choice. Examples include opt-out systems for organ donation or placing healthy food at eye level.
It's applied in public policy (e.g., increasing savings, health compliance), marketing (understanding consumer behavior), product design, finance, and organizational management to improve effectiveness and outcomes.
Yes, by recognizing common cognitive biases and psychological principles, individuals can make more informed decisions about their finances, health, relationships, and productivity, leading to better personal outcomes.