59 min listen
...Ridiculous Ep. 1: Beyond Anomalies
ratings:
Length:
38 minutes
Released:
Feb 26, 2024
Format:
Podcast episode
Description
For decades, neoclassical economists clung to the belief that humans are rational decision-makers, but a daring group of social scientists dared to question this notion. Join us as we explore their pioneering work, from the revolutionary concept of bounded rationality to the eye-opening Cab Driver Study. Through meticulous observations and rigorous analysis, these trailblazers shattered the status quo, ushering in a new era of economic thought.
Discover how real-world scenarios defied the rationality assumption, from the baffling fluctuations in stock market behavior to the surprising insights gleaned from everyday decision-making. As we unravel the complexities of economic behavior, we invite you to join us on a radical journey of discovery and transformation. Together, let's challenge traditional notions, advocate for a more nuanced understanding of human behavior, and pave the way for a brighter future in economics and beyond. This is more than just a podcast—it's a revolution.
Discover
Are humans really rational decision makers?
The radical concept of bounded rationality
The surprising ways in which workers don’t optimize their earnings
How the stock market defies pure rationality
Discover how real-world scenarios defied the rationality assumption, from the baffling fluctuations in stock market behavior to the surprising insights gleaned from everyday decision-making. As we unravel the complexities of economic behavior, we invite you to join us on a radical journey of discovery and transformation. Together, let's challenge traditional notions, advocate for a more nuanced understanding of human behavior, and pave the way for a brighter future in economics and beyond. This is more than just a podcast—it's a revolution.
Discover
Are humans really rational decision makers?
The radical concept of bounded rationality
The surprising ways in which workers don’t optimize their earnings
How the stock market defies pure rationality
Released:
Feb 26, 2024
Format:
Podcast episode
Titles in the series (100)
Behavioral Grooves 1: James Heyman, PhD: Interview with James Heyman, PhD by Behavioral Grooves Podcast