Professor Richard H Thaler, Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics; Author, Misbehaving: The Making of Behavioural Economics
Chair: Lord Gus O'Donnell, Cabinet Secretary (2005-11); Senior Adviser, Frontier Economics
00:27:53

Overview

Linking recent analysis in human psychology with a practical understanding of incentives and market behaviour, Professor Richard Thaler discusses the flaws behind the traditional ‘rational actor’ assumption in economic theory and examine the profound effect of human miscalculation on markets and governments. In conversation with Lord O’Donnell, he will explore the implications of behavioural economic analysis for individuals, businesses and policy-makers.

More information at Behavioural Economics: Closing the Gap Between Theory and Reality