Ready for Richard Thaler's sold out event 'Misbehaving: The making of behavioural economics' #lsethaler pic.twitter.com/btikvZSSjx
1 minute into #lsethaler and I count 3 behavioural economic jokes....
Is #behaviouraleconomics a pleonasm asks Richard Thaler at #LSEThaler
Dick Thaler at LSE quotes Herbert Simon: "The phrase 'Behavioral economics' appears to be a pleonasm" #LSEthaler pic.twitter.com/etG04qgKuX- Econs are optimising jerks with no morality argues RichardThaler at #LSEThaler
When it comes to decision making as humans "we are more like Homer Simpson than Dr Spock" #LSEThaler #behaviouraleconomics #misbehaving
Relatable example of optimal exam grades #LSEThaler!
Misbehaving is not doing something wrong, it is doing something that doesn't go with economic theory. #LSEThaler- Misbehaving is behaviour inconsistent with econ theory #LSEThaler
Misbehaving, to @R_Thaler, isn't doing something wrong but doing something based on supposedly irrelevant factors (like framing) #LSEThaler- Social norms,framing and defaults all contribute to misbehaving #LSEThaler
- Don't judge theory by the realism of its assumptions but by the validity of its predictions - M Friedman #LSEThaler
- Predictable error obviates need for unrealistic assumptions #LSEThaler
- People make predictable errors. Aha moment from #lsethaler
Herb Simon describes behavioural economics as a ‘pleonasm’; I'd describe @R_Thaler's crit of classical economics as a paper tiger #LSEThaler- "Stakes go up and the amount of practice is going down" - this is a super analogy re: #Misbehaving #LSEThaler
- We don't make better decisions when stakes are high #LSEThaler
- The key point about behavioral economics is that humans are not only fallible, but they make predictable mistakes | @R_Thaler #LSEThaler
- Amos Tversky once asked "everybody you know Is an idiot, but all the actors in your models are geniuses, so what gives?" #LSEThaler
Favourite note so far on slides at @R_Thaler's presentation: "Conclusion: all economic dolts" #LSEThaler
People masters the act to buy milk but rarely make the good decision for their retirement #LSEthaler @R_Thaler https://twitter.com/sez_mikailian/status/608331138411712514 …
It's easier to make money by catering to consumers' biases than trying to correct them - @R_Thaler speaking at @LSEBehavioural #lsethaler
"...A master storyteller & a funny man." @DanielKahneman Here's hoping! Excited to see @R_Thaler tonight at #LSEThaler! @LSEpublicevents
Misbehaving: the making of behavioural economics
Department of Social Policy public lecture at LSE with Professor Richard Thaler, Tuesday 9 June 2015
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LSE events126 Views
LSE events126 Views
