Guy Kawasaki's Remarkable People How Behavioral Economics Shapes Our World with Richard Thaler and Alex Imas
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Dec 17, 2025 
Join Nobel Laureate Richard Thaler, a pioneer in behavioral economics, and Alex Imas from the University of Chicago as they dissect the quirks of human decision-making. They discuss the fascinating concept of nudges and how simple choices can dramatically influence behavior. Thaler advocates for universal school meals to reduce stigma, while both guests explore why professional traders often make irrational choices. They also delve into the dynamics of cryptocurrencies and how behavioral biases shape market trends, offering insights that challenge our understanding of rationality.
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Crypto's Value Depends On Collective Belief
- Crypto lacks intrinsic cash flows, so its value depends on collective belief about its store-of-value role.
- Many crypto prices resemble classic Keynesian beauty-contest bubbles rather than fundamentals.
Why The Winner's Curse Happens
- The winner's curse occurs in common-value auctions because optimistic estimates make winners overpay.
- More bidders mean winners are likelier to have overly optimistic signals, so rational bids should be lower.
Account For Competitors In Auctions
- When participating in auctions, account for who else is bidding and their information sets.
- Anticipate competitors' beliefs to avoid overbidding from naive estimates.
