Professor Richard Thaler: Masters in Business (Audio)
Masters in Business
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How Does Conventional Economics Progress?
Conventional economics assumes that people are highly rational, in fact, superrational and unemotional. They could calculate like a computer and have no self control problems. How does this manifest itself in terms of the way economics progresses? Well, take the problem of saving for retirement. It's one of the biggest financial decisions that we have to make in our lifetime.
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