Displaying 27 results
Robert J. Shiller — In a New York Times op-ed, Professor Robert J. Shiller explains that stock market movements are driven by popular narratives that spread like “thought viruses.” Secular stagnation—the idea that the global economy may languish for years to come—is the current story driving down the stock market. Whether true or false, the idea alone has the potential to erase five years of gains and create a bear market. Read More
Robert J. Shiller — Recent research, drawing on behavioral economics, suggests that donors make larger contributions to a nonprofit organization when they have a sense of active involvement in the organization's mission. In an op-ed for the New York Times, Professor Robert Shiller suggests that changes to legal and institutional structures could be powerful new tools to increase engagement and giving. Read More
Robert J. Shiller — As housing, unemployment, the stock market, and the overall economy show signs of recovery, Professor Robert Shiller writes in the New York Times that we understand little about how people’s confidence affect these major turning points. "…[P]ublic thinking is inscrutable. We can keep trying to understand it, but we’ll be puzzled again the next time the markets or the economy make major moves." Read More

Why do we like what we like?

Paul Bloom — At the moment we consume, say, a chocolate bar, our brains seamlessly synthesize sensory phenomena, ideas, memories, and expectations—which means that we often don't fully understand why we like the things we like. Psychologist Paul Bloom describes how storytelling and marketing can add layers of meaning to our pleasures. Read More
Nathan Novemsky — Nathan Novemsky, professor of marketing, explains to his Problem Framing course how Prospect Theory–the series of ideas and experimental observations that lie at the root of behavioral economics–elucidates one of the psychological biases that can cause people to approach the same problem in very different ways. Understanding these biases can help one see problems more clearly. View Video