Behavioural Economics explained in less than 8 minutes

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[@GustavoSilva-ny8jc]

THIS IS THE DEFINITION OF UNDERRATED!!!!! Do you have an idea how many lives you could save??? Cant believe this is not famous.

[@leeannlopezyt]

Feeling like I’m finally finding the information I need towards this career! Thank you 😊

[@GustavoSilva-ny8jc]

6:00 DAAAAAAMN, SO TRUE!!!!!! I realized this while VERY sick, "im not being myself" and the impulse to take more medicine can be HUGE, "i think it wasnt enough this time" or "i waited enough" or "GOOOOOD, MAKE IT STOOOOP!!!!!"

[@gislijonkristjansson5547]

Thanks for the education. Fantastic informative videos on our "bounded rationality" 👍 Good job

[@PeteJudo1]

Glad you like them!

[@isthatsharanya]

This was so easily explained thanks man !

[@PeteJudo1]

You’re welcome!

[@KumarAadarsh]

You explained it so well! Thank you❤

[@Negrodu63]

Your content is just great! Learned something new a few times even though I studied it. Good job!

[@PeteJudo1]

That’s great! Thanks!

[@ruchikasays]

Loved your explanation!

[@whalienreader1261]

Love this!!! Looking forward to your new content! Good luck :)

[@PeteJudo1]

Thanks Tara!

[@kaphwiyobanda]

Wow, well presented i love it.

[@nutshell5494]

I think the precise word isnt 'traditional economics' but more like 'neoclassical economics'. Thats because richard thaler himself said that people like keynes, and adam smith itself is being considered as behavioral econs. Neoclassical econs was a more rational people that comes after the 'traditional' ones, example: paul samuelson. Btw thx for this great video hehe.

[@PeteJudo1]

Glad you liked it! This is my first video on this channel!

[@GustavoSilva-ny8jc]

1:08 I can sense the laugh in this 😂😂, if there's something the internet made us do was refute this part repeatedly. But props those guys for never procrastinating in their lives. What annoys me about Moneyball is that is in 2002 and they totally ignore the human aspect on the scenes ive saw and use traditional economics, BE existed since 70s for christ sake! 2:40 😂😂😂😂😂 EXCELLENT way to rephrase what Kahneman tried to say and failed in his book!!! He just kept hammering as a joke that they were emotionless. 2:50 😂😂😂😂😂 WTH?? How are you so underrated???

[@pambellefleur7588]

Have you read Beau Lotto' book Deviate? I think you would like it: neuroscience of perception :) my opinion is that it ties in nicely with behaviour science. Good interview if you want a taste is the one Lotto did with Jordan Harbinger. Cheers!

[@GeorgeSmileyOBE]

Emotions are under ‘utility maximization.’ The trouble is ‘utility’ definition.

[@evelenemontano4775]

Have you considered becoming a proffesor? Seems like a valid career path for you since you're such an excellent teacher :3

[@PeteJudo1]

Thanks Evelene! No plan for that right now, but maybe one day!

[@meronsileshi4205]

Thank you for this video! Can you let us know where you did BA or Masters in Behavioral Economics?

[@PeteJudo1]

Warwick!

[@GustavoSilva-ny8jc]

Best thumbnail ever

[@divyarathod7883]

really well explained!

[@madeshsan]

Thank you this is insightful

[@takiyaazrin7562]

Great video

[@camilleroesiamae8067]

great video!!!!!!!!!

[@MsDamosmum]

Any advice on how to psychologically get my customers to understand that the time it takes to alter a garment to create a good fit (for all kinds of body shapes) and the time it takes for it to be produced in a factory (with their personal body shape not taken into consideration is vastly different and worth paying for? I feel that my work is really worth while …but not financially! 😏

[@ratanakin6512]

Such a great vdo. Tysm

[@acacacacacacaccaca7666]

This only works short term Eventually people wise up to all the little manipulation going around

[@sahilingale3280]

Is behavioural economics used in any way by the central banks for monetary policy decision?

[@reyhane8633]

really effective explanation👊

[@PeteJudo1]

Thanks!

[@hamza3065]

Great video. Thanks.

[@PeteJudo1]

You're welcome!

[@adityamathur8317]

I'm a high school student of economics and this is the first piece of info i watched regarding the Behavioral Econ field and I'm fascinated to say the least! Great work and beautiful metaphors!!

[@PeteJudo1]

Thanks! Glad you enjoyed!

[@alfredarus3043]

amazing

[@chahatparuthi4589]

WhTs the difference between behavioural economics and neuro marketing

[@PeteJudo1]

Hey Chahat. So neuromarketing is the application of Behavioral Science and psychology, to the business of marketing. Basically seeing how people's brains react to certain products or stimuli, and hence trying to predict how well it will sell as a result. . . Behavioral Science however is much broader than that. We don't always use these insights to sell products. Instead, Behavioral Science can be used to encourage all kinds of positive Behavior, like increasing savings, exercising more or spending more quality time with family!

[@nutshell5494]

@@PeteJudo1 plus, the using of word 'neuro' making neuroeconomics strictly bound to only learning about our brains behavior in contacts with economics. In practical, behavioral economics would be more holistic and useful than neuroecons. Sry for my english.

[@PeteJudo1]

@@nutshell5494 totally right friend!

[@smalltalk3904]

is that thing really called a pimple packet haha TIL :p

[@TeethToothman]

🌜🖤🌛

[@ShreddedGenius]

yh but a and b arent the same colour 😂

[@shitzuation]

Wow that’s crazy interesting - thanks so much for making this vid! ❤

[@jvcVlogTV]

You look asian but speak english fluently , I guess this topic is not yet on high school curriculum in the Philippines

[@PeteJudo1]

I’m British Chinese!

[@spodergibbs5088]

You can’t really overdose on paracetamol. Opioids yes. But not really paracetamol.