In this episode, Dane Stangler, a research manager at the Kauffman Foundation, talks with Dan Ariely, author and professor. They discussed Ariely’s perspective on behavior economics, which quantifies how people actually act in the marketplace, often very different than what conventional wisdom dictates. Ariely tells how irrational behavior can be both positive and negative. For example, when calorie counts are posted in fast food restaurants, consumers put all logic aside and ignore the numbers. On the plus side, Ariely says, our society benefits from entrepreneurship, even though the risks of starting a business would make it seem an irrational idea.
Also huffduffed as…
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Conversation with Dan Ariely, author and behaviorial economist
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Conversation with Dan Ariely, author and behaviorial economist
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Conversation with Dan Ariely, author and behaviorial economist
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Conversation with Dan Ariely, author and behaviorial economist
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Conversation with Dan Ariely, author and behaviorial economist
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Conversation with Dan Ariely, author and behaviorial economist
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Conversation with Dan Ariely, author and behaviorial economist
Possibly related…
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Robert Shiller on Behavioral Economics
In the past twenty years there has been a revolution in economics with the study not of how people would behave if they were perfectly rational, but of how they actually behave. At the vanguard of this movement is Robert Shiller of Yale University. He sits down with Nigel Warburton in this episode of the Social Science Bites podcast
http://www.socialsciencespace.com/2012/08/robert-shiller-on-behavioral-economics/
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Rubinstein on Game Theory and Behavioral Economics
Ariel Rubinstein of Tel Aviv University and New York University talks with EconTalk host Russ Roberts about the state of game theory and behavioral economics, two of the most influential areas of economics in recent years. Drawing on his Afterword for the 60th anniversary edition of Von Neumann and Morgenstern’s Theory of Games and Economic Behavior, Rubinstein argues that game theory’s successes have been quite limited. Rubinstein, himself a game theorist, argues that game theory is unable to yield testable predictions or solutions to public policy problems. He argues that game theorists have a natural incentive to exaggerate its usefulness. In the area of behavioral economics, Rubinstein argues that the experimental results (which often draw on game theory) are too often done in ways that are not rigorous. The conversation concludes with a plea for honesty about what economics can and cannot do.
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EconTalk: Rubinstein on Game Theory and Behavioral Economics
Ariel Rubinstein of Tel Aviv University and New York University talks with EconTalk host Russ Roberts about the state of game theory and behavioral economics, two of the most influential areas of economics in recent years. Drawing on his Afterword for the 60th anniversary edition of Von Neumann and Morgenstern’s Theory of Games and Economic Behavior, Rubinstein argues that game theory’s successes have been quite limited. Rubinstein, himself a game theorist, argues that game theory is unable to yield testable predictions or solutions to public policy problems. He argues that game theorists have a natural incentive to exaggerate its usefulness. In the area of behavioral economics, Rubinstein argues that the experimental results (which often draw on game theory) are too often done in ways that are not rigorous. The conversation concludes with a plea for honesty about what economics can and cannot do.