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Behavioral Economics
- When Psychology and Economics Collide
- Narrated by: Scott Huettel
- Length: 11 hrs and 58 mins
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Behavioral Economics
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Overall4.5 out of 5 stars 69
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Economic forces are everywhere around you. But that doesn't mean you need to passively accept whatever outcome those forces might press upon you. Instead, with these 12 fast-moving and crystal clear lectures, you can learn how to use a small handful of basic nuts-and-bolts principles to turn those same forces to your own advantage.
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Overall4.5 out of 5 stars 68
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Overall4.5 out of 5 stars 335
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- Narrated by: The Great Courses
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Written by: Robert Sapolsky, and others
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- Narrated by: Tom Weiner
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- Original Recording
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Overall5 out of 5 stars 264
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Performance5 out of 5 stars 214
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Story5 out of 5 stars 209
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3 out of 5 stars
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Basic Fundamentals with a Helping of Bias
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Written by: Thomas Sowell
Publisher's Summary
Behavioral economics is the study of decision making, and of the related themes of valuation, exchange, and interpersonal interactions. Using methods from psychology, sociology, neurology, and economics, behavioral economics sheds light one of the most fundamental activities of human life:the decision process. In 24 insightful lectures, you'll learn how behavioral economists look at decision making and explore a set of key principles that offer deep insight into how we evaluate information and integrate different factors to make decisions. Most important, using real-life illustrations and case studies, each lecture offers practical tools, so that you can understand the patterns of decision making, the purposes they serve, and how to use your knowledge to make better and more satisfying decisions.
In grasping the underlying factors in decision making, you'll explore key topics such as decisions regarding probability, time-related decisions, managing risk, high-stakes medical decisions, and group decision making. Professor Huettel illustrates each concept with meaningful examples, analogies, and case studies, relating the material directly to the decisions all of us make as a central part of living. This unique course gives you essential knowledge and insights for one of life's most important skills.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.
What listeners love about Behavioral Economics
Average Customer RatingsReviews - Please select the tabs below to change the source of reviews.
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- JR
- 2022-06-06
A must
If you are a human being, then you need to know this about yourself and other people
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Overall1 out of 5 stars
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Performance1 out of 5 stars
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Story1 out of 5 stars
- Mike Mondor
- 2018-12-25
Didn’t download from audible
Received error message 3004. I expect things to work. There’s no way to know if the book is good.
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Overall4 out of 5 stars
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Performance4 out of 5 stars
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Story4 out of 5 stars
- Cynthia
- 2015-07-04
The Unknown Unknowns
Merriam-Webster defines economics as "a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services." Theories and concepts are dense and often mystifyingly complex - see, for example, Thomas Piketty "Capital in the 21st Century" (2013).
Sometimes economics don't make monetary sense - and that's where Behavioral Economics comes in. Scott Huettel, PhD's "The Great Courses: Behavioral Economics: When Psychology and Economics Collide" (2013) is a series of 24 lectures, about half an hour each, on that fascinating subject. Huettel explains why money really isn't everything, especially when what seems 'rational' about spending doesn't override people's social behaviors. For example, it might be more important to punish a cheater or thief even if it costs the person meting out the punishment more money and time than it would have to walk away - see Lecture 2. As a litigator, I see this in action all the time - and benefit from it, quite frankly - but until I listened to Huettel's lectures, I wasn't sure why it was happening.
Because of Lecture 15, "The Value of Experience" I discovered why something I've thought for a long time was true: it's not the things that you buy but the things that you do that make a difference. A week ago, I was in Florida, traveling with a group and not quite on vacation. The airboats and alligators of "Wild Florida" were close, and, armed with the knowledge that we were going to remember the experience forever - and the psychology of why - I happily talked the group into going. I realized that the class helped me feel more confident about my own economic decisions.
Huettel's course is great listen for fans of Dan Ariely's "Predictably Irrational: The Hidden Forces That Shape Our Decisions" (2008).
The title of the review is from one of the lectures. It turns out that "known unknowns" and "unknown unknowns" make sense in Behavioral Economics, even if they don't for Donald Rumsfeld.
[If this review helped, please press YES. Thanks!]
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58 people found this helpful
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Overall4 out of 5 stars
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Performance4 out of 5 stars
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Story3 out of 5 stars
- Subodh
- 2018-04-05
Recommended for
if you have already read thinking fast and slow then don't bother. You don't need to read this.
however if not, go for it. The course has same content but a short version of it. I really like he starts with chapter title and summarize at the end. I wish the stories were more interesting.
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48 people found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- SAMA
- 2014-01-12
Stating the Obvious
This course lists a lot of behavioral ideas we know but don't know we know, in excellent examples and words. Stimulating.
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33 people found this helpful
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Overall3 out of 5 stars
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Performance2 out of 5 stars
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Story4 out of 5 stars
- Kindle Customer
- 2014-12-11
brilliant, perhaps, but definitely boring
Would you say that listening to this book was time well-spent? Why or why not?
I loved the concepts and empirical work. I simply couldn't listen for more than about 15-20 minutes. Since I was driving I couldn't risk falling asleep.
What was one of the most memorable moments of Behavioral Economics?
The number of times he was able to illustrate that pop psychological notions about human behavior often couldn't be farther from the facts of the matter.
How did the narrator detract from the book?
His voice is essentially monotone, but he has a bit too much of self-importance (perhaps?). the fake clapping at the end of a chapter was over the top (and led me to the sense of his excessive self-importance--really, who needs fake clapping in a studio recording???).
Did Behavioral Economics inspire you to do anything?
Yes, question assumtions about motives and motivations.
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20 people found this helpful
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Overall5 out of 5 stars
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Performance3 out of 5 stars
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Story5 out of 5 stars
- Scott J. Jones MD
- 2017-06-20
Excellent coverage of material, but a bit dry
The same material is covered in a much more entertaining way by reading some of the source material. Specifically, The Undoing Project by Michael Lewis covers the work of Kahneman and Tversky, while Thaler's own work is covered in Misbehaving.
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14 people found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Anonymous User
- 2014-09-23
Clear and effective
Great course! Clear, well structured, most useful.
The best way to teach is to stimulate the other own thought!
Glad I got this book. Only regret that it wasn't earlier...
Thanks Professor Huettel!
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14 people found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- J. Phillips
- 2014-08-24
Love the topic
Would you listen to Behavioral Economics again? Why?
Would for sure- the topic is very interesting to me (intersection of economics and psychology).
Was this a book you wanted to listen to all in one sitting?
It'd be tough
Any additional comments?
Its a good lecture- give it a go if you have any interest in the topic
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11 people found this helpful
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Overall4 out of 5 stars
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Performance4 out of 5 stars
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Story4 out of 5 stars
- David
- 2015-04-07
Great to understand how we make decisions
This is a great exploration of how we make decisions, understand value and how to use those same concepts to make better decisions.
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9 people found this helpful
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Overall3 out of 5 stars
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Performance2 out of 5 stars
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Story3 out of 5 stars
- kameir
- 2014-11-18
Fundamental Errors Taint Overall Good Observations
Would you say that listening to this book was time well-spent? Why or why not?
Professor Huettel is comitting the fundemental error of using the label 'money' as a motivator. Of course money is always just a placeholder for what the recipient thinks he might be able to spend this money own or even give it away - hence the underlying motivation could be greed but could also be altruism - i.e. when the recipient passes on the money to another party without expecting a return (charity). So, referring to money for motivation is actually not saying anything at all.
What was your reaction to the ending? (No spoilers please!)
No true insights.
Would you be willing to try another one of Professor Scott Huettel’s performances?
Not likely.
Could you see Behavioral Economics being made into a movie or a TV series? Who should the stars be?
Not sure .. maybe Steven Levitt.
Any additional comments?
Professor Huettel should listen to Steven Novella's 'Your Deceptive Mind'.
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7 people found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- C. Drew
- 2015-12-31
Great introductory primer to behavioral economics
Very approachable. Concept rich text broken up into topical lectures. Left off on the topic of "nudge" and will be the follow on book that I download: Nudge.
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6 people found this helpful