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What Behavioral Economics Teaches Us

NES Professor Yevgeny Yakovlev and General Partner of Matrix Capital Pavel Teplukhin

01/25/2021

Timecode

03.50 - An example from life: how loss aversion prevents you from achieving the desired result

05.00 - To test behavioral economics, Evgeny Yakovlev makes a bet during a podcast

08.20 - How Nobel Laureate in Economics Richard Thaler helped Americans learn to save for retirement

11.00 - And why is it extremely difficult to do in Russia 13.00 - Money matters

15.45 - The state must protect citizens from irrational behavior 4:20 pm - Riddle: Why do people buy bonds?

18.30 - Retail investment in the Russian market is a super-risky business, most people will be disappointed

19.50 - Discounts, sales - how marketers use our irrationality

23.37 - And how employers use it; whether it is necessary to disclose salaries within the company

32.10 - Why the desire for justice is irrational - experiment with $ 100

34.00 - Maybe irrationality is rationality in a sense?

Description

A sale ends in two hours, and you rush to take advantage of the discounts? How do you react if you find out that you are earning less than your colleagues - will you work better or worse? Can you see the difference between $1,000 and $1,100? How about between $100,000 and $100,100? Well, it’s the same $100.

Do you think more expensive wine tastes better? And finally, do you understand how often you are manipulated by retailers and advertisers and how often you behave irrationally? We talk about all this with Yevgeny Yakovlev, Professor at the New Economic School, and Pavel Teplukhin, General Partner of Matrix Capital.