Dan Ariely on Understanding the Logic behind Illogical Decisions

Running Time: 16 minutes 17 seconds  

Canadian Management Centre is pleased to present the American Management Associations strategic planning podcastUnderstanding the Logic behind Illogical Decisions with special guest Dan Ariely. Dan Ariely is an MIT professor and has been researching behavioral economics for over 20 years, Dan just launched a new book Predictably Irrational.

During this podcast Dan Ariely will explore behavioral economics and its impact on managers and team leaders. Ariely will walk us through, how irrational behavior can actually be predictable and how we may use this to our advantage. During this podcast Ariely will also give us the framework behind behavioral economics and how it differs from traditional economic theory.

According to Ariely, our current understanding of economics is based on the assumption of a rational subject, when in fact it should be based on our systematic, unsurprising irrationality. In his new book Predictably Irrational, Ariely argues that greater understanding of peoples emotions, relativity and social norms could bring a variety of opportunities for reexamining individual motivation and consumer choice, as well as economic and educational policy.