What is Behavioral Economics? | The Knowledge Dynasty

What is Behavioral Economics?

What Is Behavioral Economics, and Where Are the Free Lunches?
Video Rating: 4 / 5

An undergrad wants to go to grad school in economics and seeks advice from a current grad student.
Video Rating: 4 / 5

42 Responses to What is Behavioral Economics?

  • David Letson says:
  • Robert Sundström says:

    The theories of the Austrian School of Economics define “rational” as
    acting purposefuly towards goals – using the information that is available.

    It doesn’t assume that people are perfect in their way of thinking. People
    make logical errors and they do sometimes act by unconscious instincts. It
    is all about learning from those mistakes.

  • fradoraable says:
  • ytinformes2 says:
  • strategybuilders.eu says:

    ▶ What is Behavioral Economics? – YouTube http://ow.ly/nKCpi #behavioral

  • Laurie Borland says:

    How does behavior affect economic decisions and influence how policy is
    made? I’m taking a class at Duke with professor Dan Ariely. Are you the
    default? Stay tuned for my write up on how defaults affect you, the world
    you are in and the decisions you think you make.

  • eliku89 says:

    wow, your ignorance and failure to concentrate on what is essential will
    most certainly make you fail to achieve a fraction of what he has or any
    higher academic pursuits for that matter. Good luck!

  • cbebutuoy says:

    “In his senior year of high school, he was active in Hanoar Haoved
    Vehalomed, an Israeli youth movement. While preparing a ktovet esh (fire
    inscription) for a traditional nighttime ceremony, the flammable materials
    he was mixing exploded, causing third-degree burns over 70 percent of his
    body.[3] In his writings Ariely describes how that experience led to his
    research on “how to better deliver painful and unavoidable treatments to

  • vin c says:

    I was thinking of becoming a psychology major but for some reason I keep
    coming back to economics from when I was a high school student. I like how
    psychology gives me the the know how for understanding how people really
    act in a world like ours but this sounds interesting! How would you go
    about entering this kind of field?

  • FromLilithsLips says:

    I feel sorry for you.

  • xuimod says:

    Guy has a little bit of Bell’s Palsy going on. Its a bit distracting tbh.
    They could have used a better spokesperson.


    yes. the rational assumptions in classical economic theory really need some
    tweaking; we learn from cognitive psychology and critical thinking,
    prejudices and biases cloud our so-called rational judgments and
    decision-making all the time; simply put, its a safe assumption to make
    that humans are irrational by default, and only rational with applied
    effort and under the right conditions, notably, when the mind is very calm
    and at ease.

  • vcvitiko says:

    He is there for a reason..he is one of the best at what he do.

  • George Dolack says:

    Cool vid. Guy needs a new tie. Anyways, most of America acts like Homer
    Simpson because we are never taught in school about when things end. We are
    so concerned about picking people up when they fall, that when you actually
    hit rock bottom or financial collapse we just look for the next handout or

  • jack smack says:

    im 12 and learning about economic

  • Henry Sullivan says:
  • Henry Sullivan says:
  • lacy gilworth says:

    Yes, Econometric and simply Statistics with a business mask on. 

  • dylf14 says:

    “I am laughing at you right now”

  • Tyler Boese says:

    Another 25 credits of math/stats and econometrics might be enough to get
    into a program. Plus there are PhD Philosophy programs that don’t require
    much math. If she doesn’t care about getting rich she should go for it.

  • Eden Webley says:

    I want to be an economist. SO I am going to teach myself maths.

  • Matthew Kincaid says:

    If you don’t like matlab it’s just cause you don’t understand it. All these
    fuckin Econ majors ruining the name of a brilliant tool!

  • jphilly819 says:

    all these various cartoon videos disparaging people who want to become
    economists, doctors, lawyers, are just stupid, let’s just encourage people
    to do what they want to do, not just disparage them

  • Stella Maris says:

    “Economy is the basis of society. When the economy is stable, society
    develops. The ideal economy combines the spiritual and the material, and
    the best commodities to trade in are sincerity and love.”

    ~ Morihei Ueshiba

  • James Drake says:
  • Zkar says:

    hah haah haah

  • Eli Tanenbaum says:

    Freakonomics is pretty good, but Superfreakonomics is bad.

  • Alec Volkman says:

    LOL! That’s exactly what I am doing for the past month… tinkering around
    the edges and hoping for convergence in my macro model.

  • David A says:

    Life as a grad student is far better than this depicts. If you’re good, the
    money can be quite comfortable and only morons work from the basement. We
    have the Internet! And yes you need math in the beginning, but research
    ends up being more about ideas and writing for most. I went to a top 10 phd
    program and now teach at a top 20 department. Don’t let the depressed
    person who wrote this bring you down!

  • azaas says:

    Actually you’ll need math throughout your life as an economist. Math can
    provide a great insight in economics and become the source that generates
    lots of ideas for research. They are of great necessity in understanding
    research even in fields that you’re not that involved in. Right now trying
    to find an econ context that would justify research in Markovian infinite
    games for my master’s thesis * yeah game theory/mathematical economics
    enthusiast *. Shooting for a top 10 as well; fingers crossed

  • Benjamin Freeman says:

    Is there a reason you also use a female to belittle?

  • espanola123 says:

    saltwater vs freshwater economists*

  • sjc says:

    I like these a lot but one error is that in the UK you don’t have contact
    with anyone who would ever tell you what postgraduate life is like since
    you don’t really associate with anyone in the field until you get a job
    which you need a PhD just to apply for. By the time you look at the labour
    market criteria you have no means of response because there isn’t much to
    the education beyond paying for the administration of your work for the
    certification process.

  • Nick Evans says:

    “Hopefully I have updated your prior about what graduate school will be
    like” Bayesian reference?

  • M1RAAN says:

    I don’t know anything about economics but this made me laugh.

  • Nicolas Paillardon says:

    Phd group on Linkedin : ” ABG – L’intelli’agence “

  • Paulpry says:

    You learn more about economics as an undergrad than you do in graduate
    school. Grad school is all about developing mathematical models that don’t
    correspond to the real world.

  • vimar says:

    I thumbs-up-ed the video, but also got some rather scaring chills…

  • InstTaxSolutionsLLC says:

    Having a solid background in math is essential to any economics study
    especially at an advanced level. Since she doesn’t care about the money,
    she must have a large cash sum to pay for her advanced degrees, because
    they’re expensive.

  • wtong89 says:

    If you want to pursue a PhD in economics because of “money”, well you
    probably won’t be able to finish your doctorate. People go into graduate
    school because they have a passion and love the subject, money just happens
    to be one of the perks. Not to mention the debts too.

  • Toltecatl Tlamatini says:

    after sacrificing your 20s to get a PhD MATLAB will have become self
    aware!!!! haha awesome

  • amperro says:

    I wasted my 20s in the military. I have never had a social life. I have
    never held a job that justifies my education, and have always struggled
    financially. A PhD program would be a step up.

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.



New Skills, New You: Transform your career in 2016 with Coursera

Follow us on Twitter