In a field study, we identified an intriguing inconsistency between real estate developers' desired sales pattern (selling all apartments at the same rate) and the actual sales pattern (selling good apartments faster). We explained this inconsistency with Tversky, Sattath and Slovic (1988)'s...

To maximize happiness, one could either improve desired external outcomes (e.g., wealth) or optimize the relationship between desired external outcome and happiness without improving the outcome per se. Economics focuses on the first method. The present chapter advocates a science about the...

Standard economic analysis assumes that people make choices that maximize their utility. Yet both popular discourse and other fields assume that people sometimes fail to make optimal choices and thus adversely affect their own happiness. Most social sciences thus frequently describe some...

Standard economic analysis assumes that people make choices that maximize their utility. Yet both popular discourse and other fields assume that people sometimes fail to make optimal choices and thus adversely affect their own happiness. Most social sciences thus frequently describe some...