A professor of psychology and behavioral economics at Duke University, Dan Ariely relentlessly examines our assumptions about ourselves—and finds they’re often totally misconstrued. We think, for example, that money is our main motivator in the workplace. But not only are “a sense of connection, meaning, ownership, and long-term thinking” often more effective, it also turns out that monetary bonuses can work against us, undermining our commitment to the work itself. Jessica Gross had a long conversation with him in October.
Your field is behavioral economics. What is that, exactly?
There are two ways to explain it. The first one is in opposition to standard economics. In standard economics, we assume all kinds of things about people: that they know their preferences, that they always make decisions that are in their best interest, that they don’t have emotions or limitations of time and attention and thinking capacity. Based on those assumptions, economists go ahead and make recommendations on how to design our lives, how to do our tax and education and healthcare systems.
Behavioral economics just doesn’t start with any assumptions. Rather than saying, “People are perfectly rational,” behavioral economics starts by saying, “We just don’t know.” Let’s put people in different situations and see how they behave. And when you put people in different situations, people often behave very differently than most rational economists would expect. Because of that, the recommendations that come from behavioral economics are very different.
The second definition is that behavioral economics is really, for me at least, an applied field of social science that is designed to figure out how we actually make decisions and how to make things better. Now, not everybody is interested in the “better” part, but it’s an analysis of the true forces that influence us in our day-to-day lives and how we harness those forces to improve our ability to make decisions.
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by Erin O’Loughlin – Photos: Naz Kazazoglu In Turin, you only need to tell your taxi driver “Take me to the skyscraper” to end up at the impressive Innovation Center of the Intesa Sanpaolo bank, rising in the heart of Turin, with a fine view of the Turin hills and the Italian alps. Here on […]
by Erin O’Loughlin Richard Thaler’s 2017 Nobel Economics Prize on Monday was met with more buzz around the offices of our design agency than is usual for economics news. What people outside of the industry probably don’t realize is that service designers don’t think of Richard Thaler as an economist — instead, we consider him one of […]
Torino Design of the City is nearly here! Experientia will of course be part of this exciting week (10-16 October) of events, meetings, workshops, exhibitions and guided tours about design, and we warmly invite you to join us. The event is organised by the City of Turin and will take place in strategic city locations […]
(This page will be regularly updated to reflect minor programme changes) To Innovate through Service Design – Conference for Torino Design of the City From 10 to 16 October, the City of Turin will host Torino Design of the City. This week of events, meetings, workshops, exhibitions and guided tours about design will take place in […]
Reposted from Medium Beyond the engineering challenge of creating cars that drive themselves lies the social challenge. Before autonomous cars are ready to navigate our roads, they must be able to navigate the vastly more complicated nuances of human behaviors and interactions — from that friendly nod that says “You first” at a four-way stop, to the […]
Ripostato da Medium – English version Il mondo del fashion sta diventando sempre di più digitale — e non si tratta solo di dispositivi da indossare, ma anche e soprattutto di abbigliamento, realizzato con tessuti in cui sono effettivamente integrati dei sensori in grado di misurare e monitorare il corpo di chi li veste. Dato che la […]