Intelligence Squared

Business Weekly: Michael Lewis On How Behavioural Economics Changed The World

Dec 27, 2021

Michael Lewis, the bestselling author known for his insightful work on major financial phenomena, joins economics journalist Stephanie Flanders to explore the world of behavioral economics. They discuss how 'Moneyball' reveals the psychological biases in valuing athletes and the surprising role of attractiveness in decision-making. Lewis also shares an amusing story about algorithmic officer selection in the Israeli army. The conversation probes cognitive biases that influence our choices and the tension between behavioral economics and psychology, enriching our understanding of human behavior.

01:00:46

Episode guests

Stephanie Flanders

Michael Lewis

AI Chapters

Episode notes

Intro

4min

The Intersection of Moneyball and Behavioral Economics

27min

Innovating Officer Selection: The Application of Psychological Algorithms in the Military

3min

Unveiling the Impact of Cognitive Biases in Behavioral Economics

3min

The Quirks of Human Decision-Making

13min

Exploring the Boundary Between Behavioral Economics and Psychology

3min

The Dynamics of Collaboration: Rivalries and Recognition

6min

Michael Lewis is one of the most successful non-fiction authors alive. In a series of titles that have sold 9 million copies worldwide, he has lifted the lid on the biggest business stories of our times, enthralling readers with his knack for humanising complex subjects and giving them the page-turning urgency of the best thrillers. Liar’s Poker is the cult classic that defined Wall Street during the 1980s; Moneyball was made into a film with Brad Pitt; Boomerang was a breakneck tour of Europe’s post-crunch economy; and The Big Short was made into a major Oscar-winning film starring Christian Bale, Ryan Gosling and Steve Carell. In November 2017 Lewis came to the Intelligence Squared stage, where he was joined by economics journalist Stephanie Flanders, to discuss his work.

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