Business Weekly: Michael Lewis On How Behavioural Economics Changed The World
Intelligence Squared
00:00
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.
Transcript
Play full episode
