15min chapter

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EXTRA: People Aren’t Dumb. The World Is Hard. (Update)

Freakonomics Radio

CHAPTER

Behavioral Economics Unpacked

This chapter explores the clash between economic theory and real human behavior, particularly how irrelevant factors and default options influence decision-making. It reflects on the evolution of behavioral economics, discussing historical perspectives, cognitive biases, and the reluctance of established economists to embrace new ideas. Additionally, the conversation touches on the significance of prioritizing meaningful work and the nostalgia of academic collaborations over the years.

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