“‘Oh no, I am so completely fair and rational.’—That’s not true.”

09-11-2021 • 42 mins

What do Devil's Advocates, information cascades, egos, and gender pay equity have in common? Find out here as Prof. Ananish Chaudhuri introduces experimental economics. Part 1/2

Prof. Chaudhuri introduces behavioural and experimental economics [04:38]; talks about how to start experiments by using existing published knowledge, first [12:25]; carrots & sticks versus intrinsic motivation [14:37]; wisdom of the crowd versus information cascades [29:30]; HR and gender pay equity [16:58]; individual versus group decision making [33:46]; electronic betting markets [35:43]; egos and buy-in [38:08], and more.

A bonus, paid-members-only follow-up discussion available on the personal Premium podcast feed (subscribe by clicking here) will dive much deeper into all the above + online experiment platforms & how to use them to set up experiments in your firm, separating incentives from beliefs, COVID vaccines & response, Pilots versus Doctors making mistakes, and much-much more.

Next week, we’ll look at corporate experimentation, crisis response, psychological safety, creativity, and more with Dawie Olivier—an established CIO and advisor to corporates & start-ups.

Last week, we introduced complexity theory and set up the experimentation contexts with JP Castlin.