What is Behavioral Economics and what could we achieve with it?​

Definition :

To get a proper definition of behavioral economics I’m gonna quote the answer of one of the pioneers of this field Professor Dan Ariely that I discovered from his book ‘Predictably Irrational ‘ which said :

“ The best way to think about behavioral economics is in contrast to standard economics. In standard economics, we think — we assume — that people are perfectly rational, which means that they always behave in the best way for them. They can compute everything, they can calculate everything and they can make, always, consistently, the right decisions. In contrast, behavioral economics doesn’t assume much about people. Instead of starting from the idea that people are perfectly rational, we say we just don’t know, but let’s check it out. So, what we do is we put people in different situations to check how they actually make decisions. And what we find in those experiments is that people often don’t behave as you would expect from a perfectly rational perspective. So, in essence, it’s an empirical and non-idealistic way to start looking at human behavior. And because we find that people behave differently than expected, often irrationally, it also leads often to different conclusions about how companies should be created, what the government should do, and, of course, what individuals…