Although round numbers like 8 percent become psychological barriers in finance and economics, the 0.3 percent improvement that drove the unemployment rate below 8.0 percent is probably not substantial enough to have much of a ripple effect, either on the economy or the election.

FORBES: The Meaning of Sub-8 Percent Unemployment

Which is a pity since despite his demonstrated genius in economics, his appreciation of how psychological forces shape human behavior seems nonexistent.

FORBES: Paul Krugman Is Kryptonite To Entrepreneurs

Lottery-based incentive programs in the workplace fall broadly into the realm of behavioral economics, a field of study that looks at how psychological factors weigh on economic decisions.

FORBES: Helping Employees to Be Healthier: How About a Sweepstakes?

Ariely, 43, a professor of psychology and behavioral economics, is among the most creative of a new breed of social scientists charting the numerous ways our psychological quirks cause us to deviate from rational behavior.

FORBES: Magazine Article