To look into the future of Behavioral Economics, we talked to three young researchers who are pushing the field further. A new generation of researchers is striving to understand decision-making in the developing world, how brains process economic decisions, and how bigger, more transparent scientific methods can shed light on basic principles of choice.
This is the fifth episode of a special series called: "They Thought We Were Ridiculous: The Unlikely Story of Behavioral Economics."
*Correction: During Rahul Bhui's section of the episode, we mistakenly said that people "don't take as many risks when they're framed as potential losses…even though they're relatively happy to take risks when they're framed as potential gains." We accidentally got this flipped! In truth, research on prospect theory shows that people tend to be risk-seeking in the loss domain but risk-averse in the gain domain.
For more information, check out the Opinion Science webpage for this series: http://opinionsciencepodcast.com/episode/they-thought-we-were-ridiculous/
For a transcript of this episode, visit this episode's page at: http://opinionsciencepodcast.com/episodes/
Learn more about Opinion Science at http://opinionsciencepodcast.com/ and follow @OpinionSciPod on Twitter.
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