[ASMR]- Behavioral Economics & examples of Cognitive Biases Educational ASMR Episode 3(Soft Spoken)
Hello my little students :)
In this video I am going to be speaking about the filed of Behavioural Economics and give some examples of how we behave economically irrational, (cognitive biases). Behavioural economics is the study of psychology and micro-economics, it is used in marketing and business strategies, but can be applied anywhere in our daily lives.
In this video I will be going though:
- The Sunk Cost Fallacy
- Why theme parks suck (I don't know the fancy word for this fallacy)
- The problem of having too many options
-Loss aversion
-The price of free
Sources:
Predictably Irrational by Dan Ariely
https://www.amazon.com/Predictably-Irrational-Revised-Expanded-Decisions/dp/0061353248
NPRPlanet Money Podcast - Episode 803: Nudge, Nudge, Nobel
https://www.npr.org/transcripts/561425610
Really interesting podcast, where an economist gives dating advice (mentioned in the video)
https://www.npr.org/transcripts/517985813
These links of the podcasts also include the transcript, if you want to read instead of listen.
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