Introduction

Behavioural economics is a fascinating and rapidly growing fi eld, of increasing interest to policy-makers and business, as well as to academic economists. It brings together a range of techniques and concepts and, because it is such a broad fi eld, it can be diffi cult to defi ne it precisely. Some could argue that all economics is behavioural economics because economics is about behaviour, albeit in a restricted context. Others would defi ne behavioural economics very narrowly as the study of observed behaviour under controlled conditions, without inferring too much about the underlying, unobservable psychological processes that generate behaviour.