Sunday , November 24 2024
Home / Video / Behavioral Economics – The Certainty Effect

Behavioral Economics – The Certainty Effect

Summary:
This video gives a motivating example to illustrate the certainty effect in prospect theory and explains why such behavior is not consistent with economic rationality. As told to my students at Northeastern University. For more information and a complete listing of videos and online articles by topic or textbook chapter, see http://www.economistsdoitwithmodels.com/economics-classroom/ For t-shirts and other EDIWM items, see http://www.economistsdoitwithmodels.com/merch/ By Jodi Beggs - Economists Do It With Models http://www.economistsdoitwithmodels.com Facebook: http://www.facebook.com/economistsdoitwithmodels Twitter: http://www.twitter.com/jodiecongirl Tumblr: http://economistsdoitwithmodels.tumblr.com

Topics:
Jodi Beggs considers the following as important:

This could be interesting, too:

Matias Vernengo writes Elon Musk (& Vivek Ramaswamy) on hardship, because he knows so much about it

Lars Pålsson Syll writes Klas Eklunds ‘Vår ekonomi’ — lärobok med stora brister

New Economics Foundation writes We need more than a tax on the super rich to deliver climate and economic justice

Robert Vienneau writes Profits Not Explained By Merit, Increased Risk, Increased Ability To Compete, Etc.

This video gives a motivating example to illustrate the certainty effect in prospect theory and explains why such behavior is not consistent with economic rationality. As told to my students at Northeastern University.



For more information and a complete listing of videos and online articles by topic or textbook chapter, see http://www.economistsdoitwithmodels.com/economics-classroom/



For t-shirts and other EDIWM items, see http://www.economistsdoitwithmodels.com/merch/



By Jodi Beggs - Economists Do It With Models

http://www.economistsdoitwithmodels.com

Facebook: http://www.facebook.com/economistsdoitwithmodels

Twitter: http://www.twitter.com/jodiecongirl

Tumblr: http://economistsdoitwithmodels.tumblr.com

Leave a Reply

Your email address will not be published. Required fields are marked *