[WATCH]: 3 Concepts to Better Decision Making - applied behavioral economics

People make poor decisions everyday -- in health, money, relationships, and work. It doesn't seem to matter how much information we already have. So is Adam Smith wrong? Is our free market system broken? No. We need to understand that the assumptions behind the decision making are wrong, not the system. This 30 minute tutorial introduces 3 behavioral economic concepts to explain our decision making process and how we can improve it. Where do these decision making ideas come from? Many come from the book Thinking, Fast and Slow by Daniel Kahneman, professor of Psychology who received the 2002 Nobel Prize in Economic Sciences for his work on decision making. PDF is available

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