Behavioral economics is the study of how people make decisions. It is a relatively new field that combines economics and psychology to understand why people sometimes make choices that are not in their own best interests.

Behavioral economics has shown that people are often irrational, and that their choices can be influenced by factors such as emotions, social norms, and even the way information is presented to them. This knowledge can be used to design policies and interventions that are more likely to achieve their desired outcomes.

Behavioral economics is an important tool for understanding and influencing human behavior. It can be used to design better policies and interventions, and to improve our understanding of how people make decisions.