The Behavioral Economics Club by Mike Zangus, President
The Behavioral Economics Club realizes that, in contrast with classical economic theory, humans are not always rational. We fix the issue of assumed rationality in classical economic theory by infusing psychology into economics, accounting for irrationality, thus allowing us to produce precise, groundbreaking results. The Behavioral Economics Club produces these results through our three committees: Consulting, Discussion, and Research.
The Consulting Committee is dedicated to providing consulting services, focused on behavioral economics, to help businesses grow and thrive, which is especially significant given the struggles faced recently by businesses. This committee also has a proven track record of impressive performance in large case competitions and continues to excel in these competitions.
The Discussion Committee leads BEC's general body meetings, generating compelling topics in the field of behavioral economics to discuss and teach our members, such as the significance of psychology in the stock market, how financial literacy affects life decisions, and the results produced by behavioral nudges. The Discussion Committee also collaborates with other clubs here at Pitt to produce extremely high quality presentations for BEC's members, including Smart Woman Securities, League of Emerging Analytics Professionals (LEAP), and the business fraternity Delta Sigma Pi.
The Research Committee conducts cutting-edge research in the field of behavioral economics, using large sample sizes, taking advantage of the world-class Pittsburgh Experimental Economics Laboratory (PEEL), and by collaborating with other clubs, including LEAP. Research topics have included environmental factors in valuations of products, whether nationalism impacts demand, etc.