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Behavioral Economics

Are your students “Econs” or “Humans”? Behavioral Economics is an increasingly popular field of study that tries to find out if people make decisions like “Econs” or “Humans”. Findings from behavioral experiments often illustrate how supposedly rational decision makers often behave in less than rational ways. Behavioral economics explores how choices can be influenced by a large number of human factors. This new series of lessons includes classroom activities that introduce concepts such as the anchoring effect, default bias, endowment effect, fairness, and present bias. These lessons may be taught as a unit or individually. Each lesson has been reviewed by teachers and experts in behavioral economics. [Acknowledgements]