Foundations of Economic Prosperity The Great Courses Audio |338.43 MB
Behavioral Economics: When Psychology and Economics Collide
Scott Huettel, Ph.D.
Behavioral economics is the scientific study of decision making, and of the related topics of valuation, exchange, and interpersonal interactions. Drawing on methods from psychology, sociology, neurology, and economics, this remarkable discipline illuminates one of the most deeply fundamental activities of human existence: the decision process.
In Behavioral Economics: When Psychology and Economics Collide, award-winning Professor Scott Huettel of Duke University leads you in a penetrating look at the processes of decision making that are an integral part of human life. In 24 revealing lectures, you’ll study how behavioral economists look at decision making and explore a set of core principles that offer profound insight into how we gather information and integrate multiple factors to reach decisions. Using real-life examples and case studies, each topic builds to concrete recommendations so that you can understand the patterns of decision making, the purposes they serve, and how to use your knowledge to make more effective and beneficial decisions.
Professor Huettel brings focus to intriguing and seemingly paradoxical questions regarding human behavior:
• Why does voluntary blood donation decline steeply when people are paid for it?
• When faced with the same medical condition, why do doctors choose objectively better
treatment for their patients than they do for themselves?
• Why do employees often fail to enroll in beneficial retirement plans, including plans requiring
no financial contribution on their part?
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