Video: Chapter 13: "What is Behavioral Economics?"
Apr
10
2 Comments to “Video: Chapter 13: "What is Behavioral Economics?"”
Leave a Reply
Hi, I’m Dan Ariely. I do research in behavioral economics and try to describe it in plain language. These findings have enriched my life, and my hope is that they will do the same for you.
My latest book, The Upside of Irrationality, explores some positive and some negative ways that irrationality plays out in our lives.
When we make decisions we think we're in control. But are we?
Excerpts and Videos
Dan, Have you seen this? The assumption that goes into this modeling seems to be 180 degree from the assumptions that you use for “behavioral” econ. Yet, the success rate of 90% (in certain cases) is pretty convincing. I would be interested in hearing/reading your thoughts on this. http://blog.ted.com/2009/04/3_predictions_o.php
Thanks in advance.
I guess the point here is that the guy in the video assumes that people are rational when they want to be. But in reality, even if people ‘want’ to be rational, they are not able to because of all the emotions involved.