How do you succeed in behavioral economics?

1 Learn the basics

Before you dive into the complex and nuanced topics of behavioral economics, you need to have a solid foundation in the core principles and methods of economics. You should be familiar with microeconomics, macroeconomics, game theory, statistics, and econometrics. These will help you to analyze data, test hypotheses, and build models. You should also read some of the classic books and papers that introduced the main concepts and findings of behavioral economics, such as Nudge by Thaler and Sunstein, Thinking, Fast and Slow by Kahneman, and Misbehaving by Thaler.

2 Explore the applications

Behavioral economics is not just a theoretical discipline, but also a practical one. It has many applications in various domains, such as public policy, health, education, finance, marketing, and environmental issues. You should explore how behavioral economics can help to design interventions, nudge behaviors, evaluate outcomes, and improve welfare. You can look for examples of behavioral economics in action, such as the UK's Behavioural Insights Team, the World Bank's Mind, Behavior, and Development Unit, or the OECD's Network of Economic Regulators.

3 Develop your skills

To succeed in behavioral economics, you need to develop a range of skills that will enable you to conduct rigorous and relevant research. You need to be proficient in data analysis, programming, and software tools, such as R, Python, Stata, or SPSS. You need to be able to design experiments, surveys, and field studies, and to use ethical and scientific standards. You need to be able to communicate your results effectively, both in writing and in presentations, and to use visual aids, such as graphs, tables, and charts.

4 Network with peers

Behavioral economics is a dynamic and interdisciplinary field that benefits from collaboration and exchange of ideas. You should network with peers who share your interests and goals, and who can offer you feedback, support, and opportunities. You can join online communities, such as the Behavioral Economics Group on LinkedIn, the Behavioral Economics Forum on Reddit, or the Behavioral Economics Podcast by Alain Samson. You can also attend events, such as conferences, workshops, seminars, or webinars, where you can meet experts, learn from their experiences, and showcase your work.

5 Keep up with trends

Behavioral economics is an evolving field that constantly produces new insights, challenges, and questions. You should keep up with the latest trends and developments in the field, and be aware of the current debates and controversies. You should read journals, blogs, newsletters, and magazines that cover behavioral economics, such as the Journal of Behavioral Economics for Policy, the Behavioral Scientist, the Choiceology Podcast by Katy Milkman, or the Freakonomics Radio by Steven Levitt and Stephen Dubner.

6 Be curious and creative

Behavioral economics is a field that encourages curiosity and creativity. You should be open to new perspectives, approaches, and methods, and be willing to experiment and innovate. You should be curious about human behavior and motivation, and be eager to discover the hidden factors that influence our decisions and actions. You should be creative in finding solutions to real-world problems, and in applying behavioral economics to novel and diverse contexts.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?