The Many Ways Our Irrational Minds Sabotage Our Wealth | Dan Ariely, Behavioral Economist

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When it comes to money, because it's so quantifiable, you'd expect people to make very rational decisions.

But they don't. Because we're humans, we're more driven by our evolutionary wiring and our emotions. We make "predictably irrational" decisions, as today's guest expert would say.

Dan Ariely is the James B. Duke Professor of Psychology and Behavioral Economics at Duke University and a founding member of the Center for Advanced Hindsight.

I've been looking forward for a long time to having him on the program to help us understand how the flawed decision-making we make impacts the markets, the economy & our financial destinies.

TIMESTAMPS
0:00 Introduction to Ariely.
6:53 Behavioral economics and money.
15:25 How our current wiring is working against us.
20:00 Evaluating the value of a search query.
25:54 Who has the easier time to delay gratification.
33:48 How do you make the invisible visible?
41:29 How to make the value of money visible.
45:37 Behavioral economics and how to improve corporate culture.
52:05 Do companies that treat people better tend to outperform.
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IMPORTANT NOTE: The information and opinions offered in this video by Wealthion or its interview guests are for educational purposes ONLY and should NOT be construed as personal financial advice. We strongly recommend that any potential decisions and actions you may take in your investment portfolio be conducted under the guidance and supervision of a quality professional financial advisor in good standing with the securities industry. When it comes to investing, past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in partial or total loss.