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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Experientia is proud to have been a key participant at the Roche Innovation Summit, held at Roche headquarters in Basel Switzerland on 19 June 2018. Themed “Transforming the Healthcare Experience Together”, the summit aimed to galvanize the Roche community around the future transformation of healthcare and diagnostics. With 800 attendees from Roche and Genentech global […]
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(Scroll down for English) Come può il design generare impatto? In continuità con il summit International Days of Deans and Experts: Impact Through Design (Barcellona, aprile 2018) Torino ospita il primo evento dedicato alla prospettiva italiana sull’impatto generato attraverso il design in riferimento ai Sustainable Development Goals definiti dalle Nazioni Unite. Attori dell’ecosistema territoriale ed […]
Technology is radically changing the world of healthcare and acts at different levels in support of different stakeholders. There are several digital tools on the market (e.g. wearables, virtual reality, robotics, etc.), many of which work in integration with each other, for example, wearables connected to IOT applications. Experientia’s report provide an overview of some […]