Affiliation:
1. Research Scholar,Kolhan University,Chaibasa.
Abstract
Behaviors Economics is presently a thriving field of research for many researchers. It offers a descriptive model of
decision making which is entirely different from the traditional decision making models of economics. This research
paper is an attempt to bring insights from Behavioral Economics which can help Human Resource personnel to address
the issues like Dynamic Inconsistency and incentive design strategies.The author argues that the insight from Behavioral
Economics can transform HR practices. HR managers and leaders stand to benefit from the emerging evidence from the
lab and field of behavioral economics that calls for s rethinking of traditional decision making model.