An application of behavioral economics is:

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All of these are examples of how behavioral economics can influence behavior. Time inconsistency refers to the tendency to make choices that are not in our long-term best interest because we prioritize immediate rewards, such as procrastinating or relying too heavily on credit cards. Thinking irrationally about costs can involve overestimating the value of things we already own (the endowment effect) or underestimating the true cost of something due to loss aversion or other cognitive biases. Forgetting the fungibility of money means that we often treat different sources or uses of money as if they are separate accounts, such as overspending on a credit card because it feels like "free money." Behavioral economists study these and other phenomena to better understand how people make decisions and develop interventions that can encourage more rational and beneficial behavior.

An Application of Behavioral Economics Is