Behavioral economics has recently become the fastest growing field in economics and by many accounts the most exciting. The background is a wealth of evidence, often experimental, identifying empirical phenomena that are not adequately explained by traditional economic analysis. In traditional economics, the world is populated by calculating and unemotional utility maximizers. Behavioral economics develops new models that incorporate emotions, fairness, reciprocity, social norms, bounded rationality, myopia, etc. By its nature, behavioral economics is influenced by other fields such as psychology, sociology, philosophy, and the neurosciences. In return, behavioral economis offers analytical tools, models, and modes of thinking that can enhance the research of scholars outside economics.