Behavioral economics explores the psychology behind decisions that consumers, borrowers, and investors make, as well as the effect those decisions—often based on gut instinct—have on the financial market.
To advance knowledge in this relatively new field, Boston University Overseer Kenneth Slater and his family have endowed a chair at the College of Arts & Sciences, the first endowed chair in the Department of Economics’ history. The Slater Family Professorship in Behavioral Economics is created by a $2.5 million endowment made possible by combining funding from the Slater family (nearly $1.7 million) with a matching grant through the Leventhal Challenge ($800,000), established by University Trustee Alan Leventhal (Hon.’09) and his wife, Sherry Leventhal.