News & Views

Contagious Ideas & How To: Misbehaving – The Making of Behavioural Economics

by Contagious Team

On 11 June, Contagious is partnering with the how to: Academy to deliver some lunchtime learning in London with Richard Thaler on behavioural economics.

Richard Thaler, bestselling co-author of Nudge, has spent his career studying the notion that the central agents in the economy are humans – predictable, error-prone individuals. Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying an alarm clock, selling football tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists.

In other words, we misbehave.

Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments.

Coupling recent discoveries in human psychology with a practical understanding of incentives and market behaviour, Thaler will enlighten us about how to make smarter decisions in an increasingly mystifying world, revealing how behavioural economic analysis opens up new ways to look at everything.

When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.

Coinciding with the publication of Richard Thaler’s new book, Misbehaving, you’re invited to a lunchtime talk at the Curzon in Mayfair on Thursday 11 June from 12:45. To book tickets, click here.

In partnership with the how to: Academy.

The how to: Academy provides compact courses for people who think big and is founded by media entrepreneur and Contagious investor, John Gordon.