ON WISDOM Podcast – Episode 24: Misbehavioral Economics: Choosing Irrationality
The On Wisdom podcast features a social-cognitive scientist in Toronto and an educator in London discussing the latest empirical science regarding the nature of wisdom. Igor Grossmann runs the Wisdom & Culture Lab at the University of Waterloo in Canada. Charles Cassidy runs the Evidence-Based Wisdom project in London, UK. The podcast thrives on a diet of freewheeling conversation on wisdom and decision-making, and includes regular guests spots with leading behavioural scientists from the field of wisdom research and beyond. Welcome to The On Wisdom Podcast.
ABOUT THIS EPISODE
Are people being reasonable when they act irrationally?
Doesn’t rationality and reasonableness mean the same thing?
Charles and Igor kick of the new decade by diving into a messy mix of behavioral economics, nudges, moral philosophy and legal studies, to examine what standards guide people’s decisions. Charles asks Igor about core standards that guide people when they try to make a good decision. Igor unpacks how the standard of a rational agent evolved in the 20th century and what implications it has had for modern economics and politics. Charles wonders if there are any reasonable people left on the Clapham omnibus in London. Igor discusses his new work assessing how most people define rationality and reasonableness, showing that irrational behavior may be a consequence of focusing on reasonableness instead.
Welcome to Episode 24.
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