Business Weekly: Michael Lewis On How Behavioural Economics Changed The World
Intelligence Squared
The Quirks of Human Decision-Making
This chapter explores heuristics and the anchoring effect, showcasing how random stimuli can influence our judgment. It discusses Prospect Theory and the complexities of regret in decision-making, particularly in high-stakes scenarios like lotteries. Additionally, the narrative addresses the unpredictable nature of financial markets and the misconceptions surrounding the foresight of those who predicted major financial crises.
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