Opinion Science

"...Ridiculous" Ep. 5: The Future!

Feb 26, 2024

Exploring the future of Behavioral Economics with innovative young researchers. Topics include analyzing poverty decisions, overcoming the planning fallacy, neuroeconomics, prospect theory, vaccine lottery impacts, and the importance of transparency in research. The podcast highlights the evolving landscape of decision-making studies in diverse settings.

37:53

Episode guests

young researchers

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Quick takeaways

Young researchers are reshaping behavioral economics through brain studies, large experiments, and poverty research.

Incentivizing self-set production goals improves productivity, while visualizing budget aids realistic financial planning.

Deep dives

The Future of Behavioral Economics

Behavioral economics, driven by pioneers like Richard Thaler and Kahneman, is evolving. Danny Kahneman reflects on its future, suggesting that young professionals hold the key to shaping the field's next phase. Three emerging scientists are pushing behavioral economics in new directions, conducting brain studies, large-scale experiments, and probing poverty complexities in developing countries.

Introduction

2min

Behavioral Economics in Understanding Poverty Decisions

7min

Navigating the Planning Fallacy

5min

Exploring Neuroeconomics and Behavioral Economics

5min

Exploring Prospect Theory and Reference Dependence in Decision-Making

3min

Exploring Reference Dependence and Human Behavior

4min

Examining the Impacts of a Vaccine Lottery Experiment in Philadelphia

2min

The Impact of Transparency and Authenticity in Behavioral Economics

10min

To look into the future of Behavioral Economics, we talked to three young researchers who are pushing the field further. A new generation of researchers is striving to understand decision-making in the developing world, how brains process economic decisions, and how bigger, more transparent scientific methods can shed light on basic principles of choice.

This is the fifth episode of a special series called: "They Thought We Were Ridiculous: The Unlikely Story of Behavioral Economics."

*Correction: During Rahul Bhui's section of the episode, we mistakenly said that people "don't take as many risks when they're framed as potential losses…even though they're relatively happy to take risks when they're framed as potential gains." We accidentally got this flipped! In truth, research on prospect theory shows that people tend to be risk-seeking in the loss domain but risk-averse in the gain domain.

For more information, check out the Opinion Science webpage for this series: http://opinionsciencepodcast.com/episode/they-thought-we-were-ridiculous/

For a transcript of this episode, visit this episode's page at: http://opinionsciencepodcast.com/episodes/

Learn more about Opinion Science at http://opinionsciencepodcast.com/ and follow @OpinionSciPod on Twitter.

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Opinion Science

"...Ridiculous" Ep. 5: The Future!

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

The Future of Behavioral Economics

Understanding Poverty Through Behavioral Economics

Boosting Productivity Through Self-Control and Planning Fallacy Insights

Innovations in Behavioral Economics and Neuroscience

Remember Everything You Learn from Podcasts