#042: Behavioral Economics
Episode description
How rational are your everyday decisions? What do we even mean by rational? Should the host stop asking so many questions and get on with the topic? Join Tyler and Austin as they jump back to a topic discussed in a previous episode: Economics ( #13: Eden and Economics). However, this time there is a twist: we are talking behavioral economics. Tyler shares some interesting theories that he has been discussing in a summer enrichment course he just finished teaching. Despite his still developing brain (his words), Austin shares his thoughts on our often irrational behavior and together the two hosts discuss the implications these findings have on how we think about ourselves, our communities, and our world. See below for a number of links referenced in the show.
Behavioral Economics Theories
- Loss Aversion
- Defaults
- Framing Effect
- Social Preference