Behavioral Economics and the Psychology of Decision Making
Behavioral Economics and the Psychology of Decision Making: Are we making rational decisions?
Kahneman won the Nobel Prize in Economics for his studies to show systematic mistakes we make in the decision making process. He examines the ‘glitches’ in our thinking and challenges human rationality. In this video we delve into the psychology of judgment…
Summarize four main points (topics) that are presented in this video, and comment and critically analyze them (that means evaluate the reasons for certain beliefs or actions).
Share a personal experience with respect to ‘the psychology of decision making’, and/ or an irrational decision(s) that you have made, (or are making)?
Discover an irrational decision (in your opinion, this can be a normative judgement!) within a company’s strategic decision making, or within decisions a certain industry is making (this can also relate to public policy or regulations that impact a certain industry or firm). Research and share specific data and case study for this.
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