Economic Security Planning
Economic Security Planning
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Do People Act Like Human Beings? Insights from Brilliant Career of Behavioral Economist, Ernst Fehr
Professor Kotlikoff talks with Ernst Fehr, Professor of Microeconomics and Experimental Economics at the University of Zurich, and a leading figure in the field of behavioral economics. Ernst's profound contributions to our understanding of human behavior and economic decision-making have made him a pillar in his discipline. His pioneering work has expanded the traditional framework of economics to include concerns for fairness, cooperation, and altruism, fundamentally transforming the landscape of economic research.
Topics Covered:
• Behavioral Economics and Financial Planning Inertia
• The Role of Fairness and Altruism in Economic Behavior
• Determinants of Creativity and Success
• Impact of Experimental Economics on Labor Markets
Time Stamps:
• 00:00 Ernst upbringing in Austria.
• 10:50 Self-interest is a driving force in behavior.
• 12:50 Efficiency wage model incentivizes employees to perform.
• 22:56 Typically, average offer is 40% accepted.
• 24:49 Different cultures exhibit varying economic behavior patterns.
• 33:13 New paper challenges theories on human pro-sociality.
• 37:01 Behavioral economics and personal finance challenges.
• 48:16 Exogenous shocker, facilitator key to inducing action.
• 56:09 Study finds three social preference types prevalent.
• 01:01:01 Exchange experience in Germany shaped openness. motivator for conscientiousness.
• 01:03:09 Emphasizing the importance of asking quality questions.
In this episode you will gain invaluable insights into Professor Fehr's examination of human behavior, which highlights the inertia and behavioral transaction costs that hinder financial actions. Furthermore, the discussion on fairness and altruism provides a nuanced understanding of how these motivations interplay with economic decisions, challenging the traditional focus on self-interest.
This episode also explores the significant impact of experimental economics on understanding market fairness and employer-employee dynamics. For anyone interested in the behavioral aspects of economics and personal finance, this conversation offers a wealth of practical insights and thought-provoking ideas.
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Economic Matters - The podcast is hosted by Laurence Kotlikoff.
Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.
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Twitter kotlikoff
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Company maxifiplanner.com/
Available wherever you listen to podcasts
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Переглядів: 112

Відео

Inflation, Interest Rates, Fed Policy, and the Evolution of Economics Science
Переглядів 19816 годин тому
Professor Kotlikoff sits down with Benjamin Friedman, a distinguished professor of economics at Harvard University and a prolific author whose works have significantly shaped economic thought. Renowned for his insightful analysis intertwining economics, history, and policy, Ben brings a depth of understanding that is both profound and broadly influential. His notable books, such as "The Moral C...
Navigating Investment Strategies in a Volatile World with Fred Lane
Переглядів 117День тому
Professor Laurence Kotlikoff sits down with Fred Lane, a distinguished voice in the world of investment and economic analysis. Fred brings a wealth of experience in corporate finance and management, making him a highly credible authority in his field. As a registered investment advisor specializing in high-net-worth individuals, Fred’s strategic insights into market trends are respected across ...
Financial Literacy for All Ages: Nancy Lloyd's Advice on Budgeting and Retirement Planning
Переглядів 23214 днів тому
Nancy Lloyd is a personal finance icon. Her career includes working/writing for/commenting for/ appearing on the LA Times, New York Times, NPR’s Personal Finance Commentator, The Washington Post, ABC News, GMA, Good Housekeeping, Family Circle, Cosmopolitan, Parade. Former Federal Reserve Board Economist, IBM Systems Engineer, Financial Analyst. In this Episode: I talk with Nancy Lloyd, a highl...
Inside the Innovation of Mask Zero with Entrepreneur Adam Pener
Переглядів 12521 день тому
This is a fascinating podcast about a fascinating person with a fascinating new product a product that could well have saved millions worldwide had it been available during COVID. But it's also a podcast about our country's singular comparative advantage the ability to take a dream, mold it into an idea, recruit the perfect team, excite investors, build an unheard-of device, test it, redesign i...
Glenn Loury Discusses his Sensational and Shockingly Frank Autobiography
Переглядів 394Місяць тому
Glenn Loury is first and foremost one of our country's premier economists. We economists have a measuring stick for quality. It's publications in top-five journals. This is akin to science, where publishing in Science, the New England Medical Journal, Nature, and the Lancet is the end all and be all. I hired Glenn to Boston University away from Harvard in 1991. In the next two years, he publish...
Retirement Readiness: Mary Beth Franklin on Social Security Benefits & Planning
Переглядів 410Місяць тому
Mary Beth Franklin is one of America's outstanding personal finance journalists. This podcast covers a scary reality. Some 75 million Baby Boomers have retired or are retiring far too early with far too little savings. They are looking at a retirement that may last longer than they worked. There are ways to rescue tens of millions of retirements. But it's not by taking Social Security the minut...
Social Security on the Brink: Debating Solutions with Arun Muralidhar and Kathleen Townsend
Переглядів 214Місяць тому
In this episode I discuss pivotal aspects of social security and retirement planning with acclaimed expert Arun Muralidhar and former Maryland lieutenant governor Kathleen Townsend. Bringing an unparalleled wealth of knowledge and first-hand experience, Arun Muralidhar has an impressive background as a prominent figure in pension fund management, having steered the World Bank’s pension fund in ...
Serving Up Success: Economic Strategies for Restaurateurs with Sophie Cranin
Переглядів 54Місяць тому
Sophie Cranin is Director of Operations at ES Hospitality, which owns and operates several of the top restaurants in Boston. ES Hospitality is the brainchild of Garrett Harker, who is well known for Row 34, Branch Line, and Eastern Standard. Row 34 is in the South End, Branch Line is in Watertown, and Eastern Standard is a 10 minute walk to Fenway Park. Sophie works closely with Garret on all h...
Jerry Bergosh on the Real Gold Rush: Investments Beyond Bitcoin
Переглядів 86Місяць тому
Jerry Bergosh is not a top mining CEO. He's a semi-retired geologist who translated his degree in geology into a successful consulting career leading to the formation of his own mining company. What did his company mine? It wasn't exotic minerals. It was sand sand for children's sandboxes. This podcast provides a great introduction into the economics of mining, but more importantly how one can ...
Why Today's Housing Market Is Crazy - Answers from Boston University's Superb Economist, Adam Guren
Переглядів 273Місяць тому
Professor Kotlikoff chats with renowned economist Adam Guren, a distinguished expert on macroeconomics with a focus on housing and mortgage markets. He brings a wealth of knowledge from his time as a faculty member at one of America's leading universities. His research delves deep into the intersections of housing, personal finance, and macroeconomic policy. Topics Covered: • Housing Market Dyn...
Kerry Pechter Talks Annuities and New DOL Regulations Concerning their Marketing
Переглядів 2842 місяці тому
Retired or about to call it quits? This podcast is for you. One option is to user your retirement savings and purchase an annuity. There are plenty of insurance companies eager to secure your future with a host of very different products called annuities. Economists think about longevity risk when they hear the word annuity. But many/most "annuities" entail investing in the market with a guaran...
The Economics of Filmmaking with Screen Writer, Director, and Producer -- Harris Goldberg
Переглядів 952 місяці тому
Economics Matters the Podcast covers all things economics. Filmmaking is one of America's major industries. I'm delighted we have a master filmmaker, Harris Goldberg, to discuss the his career, his writing process, the industry, and the industry's evolution. This is a simply fascinating interview. Here's Harris' bio: Harris Goldberg started writing and directing in Canada. He is a dual citizen ...
Larry's Economic Commentary --- How Economists Started and Can Stop their Climate War
Переглядів 1492 місяці тому
Climate economics is a half century old. Its founder, William Nordhaus, has been recognized with the Nobel Prize in Economics. A small army of climate economists have followed in Nordhaus' footsteps in modeling climate change and how to fix it. In the process, they've inadvertently started a climate war, pitting the young against the old and climate-endangered countries against carbon-producing...
Pulitzer Prize Winning Journalist, David Cay Johnston, Returns to Discuss Trump's Destiny
Переглядів 156 тис.2 місяці тому
A Fact-Based Conversation Back in October 22, David joined me on Economics Matters the Podcast to discuss The Rise or Fall? of Donald Trump. The former President is clearly on the rise. The bookies put his odds at over 50 percent. There is no one better placed to discuss Trump's rise, fall, and potential resurrection than David Cay Johnston author of not one, not two, but three books on the for...
Famed Elder Care Attorney, Harry Margolis, Discusses Elder Care and Extended Family Finances
Переглядів 3663 місяці тому
Famed Elder Care Attorney, Harry Margolis, Discusses Elder Care and Extended Family Finances
Top Experts Talk Estate Planning, Gift Planning, Trusts, and Federal and State Estate Tax Avoidance
Переглядів 1833 місяці тому
Top Experts Talk Estate Planning, Gift Planning, Trusts, and Federal and State Estate Tax Avoidance
Join Economics Matters for a Fascinating Conversation with Economist Robert Akerlof
Переглядів 2603 місяці тому
Join Economics Matters for a Fascinating Conversation with Economist Robert Akerlof
Economist Jonathan Treussard Examines the Investment Risk/Return Frontier in 2024
Переглядів 3494 місяці тому
Economist Jonathan Treussard Examines the Investment Risk/Return Frontier in 2024
Robert Pinsky talks About Words, Language, Money, Poetry, Antisemitism, and Friendship
Переглядів 1264 місяці тому
Robert Pinsky talks About Words, Language, Money, Poetry, Antisemitism, and Friendship
Catching Up on Infrastructure with Our Country's Top Expert -- Brookings Economist Clifford Winston
Переглядів 844 місяці тому
Catching Up on Infrastructure with Our Country's Top Expert Brookings Economist Clifford Winston
One of our Nation's Leading Entrepreneurs, Political/Economic Commentators & Effective Altruists
Переглядів 804 місяці тому
One of our Nation's Leading Entrepreneurs, Political/Economic Commentators & Effective Altruists
Talking Chile and Argentina with Felipe Larraín -- Two-Time Former Finance Minister of Chile
Переглядів 1625 місяців тому
Talking Chile and Argentina with Felipe Larraín Two-Time Former Finance Minister of Chile
A Conversation With One of Our Most Influential and Socially Productive Economists Ever
Переглядів 2035 місяців тому
A Conversation With One of Our Most Influential and Socially Productive Economists Ever
Turning the Tables -- George Hoguet Asks Me What I Really Think
Переглядів 1855 місяців тому
Turning the Tables George Hoguet Asks Me What I Really Think
Discussing the Economy & Economic Policy with One of the Nation's Most Influential Economists
Переглядів 2055 місяців тому
Discussing the Economy & Economic Policy with One of the Nation's Most Influential Economists
Building TIPS Ladders to Achieve a Stable Living Standard -- A Discussion Allan Roth
Переглядів 1 тис.5 місяців тому
Building TIPS Ladders to Achieve a Stable Living Standard A Discussion Allan Roth
Economics Matters Interviews Leading Economist and Hedge Fund CEO -- Andrew Weiss
Переглядів 3656 місяців тому
Economics Matters Interviews Leading Economist and Hedge Fund CEO Andrew Weiss
Argentina's Dollarization and South America's Economic Malaise
Переглядів 1,4 тис.6 місяців тому
Argentina's Dollarization and South America's Economic Malaise
The IRMAA Tax -- Hidden, Nasty, Retroactive.
Переглядів 6066 місяців тому
The IRMAA Tax Hidden, Nasty, Retroactive.

КОМЕНТАРІ

  • @miraclesarenow
    @miraclesarenow День тому

    4 1/2 minutes in and you’re still into your introduction. I recommend you hold it down to 30 seconds

  • @helentaylor7262
    @helentaylor7262 4 дні тому

    Trumps followers act like caved animals who broke out of their caves.

  • @helentaylor7262
    @helentaylor7262 4 дні тому

    Trump followings acts like a bunch of hoolums

  • @TammySmith-ms7gf
    @TammySmith-ms7gf 10 днів тому

    Exactly. Russian Interference. Therefore, Trump is an Illegitimate President.

  • @ellenweiss5850
    @ellenweiss5850 12 днів тому

    David cay Johnson everything you ever said about Trump since 2016 is 100% the true nobody knows the criminal Trump better then you as a German i am distasted when he said that he has that special German blood that is bull.

  • @susanowner9549
    @susanowner9549 14 днів тому

    Yep…done deal…US judicial process is JOKE,,last bulwark to a fascist a…hole

  • @geneadaway2671
    @geneadaway2671 15 днів тому

    Never co-sign for anything.

  • @barbaraadams2645
    @barbaraadams2645 16 днів тому

    We would rather hear David speak.

  • @barbaraadams2645
    @barbaraadams2645 16 днів тому

    Introduction is too long.

  • @trudy6132
    @trudy6132 29 днів тому

    This guy is way too chatty. Get to a question & let her talk. Also stop pitting one generation against another. Not helping! Each generation has their own problems & benefits

  • @hankroest6836
    @hankroest6836 Місяць тому

    Worst interviewer ever.

  • @2porangi
    @2porangi Місяць тому

    The only way Trump will win the November election is by cheating!

  • @victor91787
    @victor91787 Місяць тому

    Investing on your own is like gambling, you need someone that understands your personal needs & wants to really work on your behalf to help you. In today's world, dare you trust anyone????

  • @bobnisbet
    @bobnisbet Місяць тому

    In the 2nd example converting $100,00 a year, which adds that amount to your income will absolutely bump up your Medicare Part B cost , which here shows no effect. Not believable, sorry.

  • @dahlialuxemburg751
    @dahlialuxemburg751 Місяць тому

    How is it possible that people are planning to give him even a single vote? Why isn't he up on charges of treason?

  • @gnos4268
    @gnos4268 Місяць тому

    The frighting thing is this fool believes all these trials are legitimate.

  • @jeanluney1362
    @jeanluney1362 Місяць тому

    ALL of this BS, because RUMP was not MAN enough to concede his loss and let America move forward. Now the whole world knows…he is EVIL?😈

  • @beliaresnick5925
    @beliaresnick5925 Місяць тому

    P r o m o s m 😋

  • @robertlindey2538
    @robertlindey2538 Місяць тому

    "Next President or Jailbird?" Possibly both. MAGA supporters don't care if he goes to jail. "Leavenworth Prison is now the White House!" Just like any aircraft can instantly become "Air Force One."

  • @stanadams5541
    @stanadams5541 Місяць тому

    When there is only one name on a ballot paper there is only one winner 😢

  • @jed7644
    @jed7644 Місяць тому

    Jail-Bird President seems as likely as any other thing.

  • @aroe3896
    @aroe3896 Місяць тому

    Ha! nice trigger warning for the pro Trump listeners

  • @slovokia
    @slovokia Місяць тому

    The interesting question is whether the market discount on treasury securities is taxable for state income tax purposes. The federal government considers the market discount on municipal bonds to be taxable for federal income tax purposes. So I could imagine a situation where some state governments could take an analogous position with respect to the taxability of market discounts on treasury securities for state income tax purposes. Many TIPS that investors will be buying in the secondary market to construct their ladders will trade at a discount to par exceeding deminimis limits so they will produce income based on that market discount upon maturity.

  • @edwardjohnson3547
    @edwardjohnson3547 Місяць тому

    This mam doesn't have i Clue keep your enamies close

  • @tomkarnes69
    @tomkarnes69 Місяць тому

    January 6th was a manufactured movie, for some reason i thought with your deep knowledge you would know that, but with a straight face you endorsed the "Official narrative", WRONG!!!

  • @user-jv5cu4hz3q
    @user-jv5cu4hz3q Місяць тому

    Obviously, jailbird

  • @larryking2697
    @larryking2697 Місяць тому

    Trump is the Lesser of Two Evils. Biden is pitiful, and way past his prime. Trump supports the American Economic System. Free Enterprise is what made AMERICA GREAT!!! Trump. Millions will vote for him. And likely.....me. Blue Dog Democrats are few and far between these days......... I'll vote for them if they are middle of the road folks.....

  • @stevewalker2114
    @stevewalker2114 Місяць тому

    The reason I disliked your video is that your monotone speech sounds disinterested. You also say the word “uh” 29 times in the last 1:42 Your guest is well informed and interested in the topic.

  • @colbolt54
    @colbolt54 Місяць тому

    Congress needs to vacate all these evil clowns that hate democracy

  • @colbolt54
    @colbolt54 Місяць тому

    The 2 tier system of government will never put trump in jail, they are simply above the law

  • @herbertterri7570
    @herbertterri7570 Місяць тому

    All PATRIOTIC AMERICAN'S WILL HAVE TO vote 🗳 ALL B-L-U-E...to...Repeal (" ROE vs WADE ")

  • @herbertterri7570
    @herbertterri7570 Місяць тому

    David Cay-Johnston : Said last year : last year : " Donald will claim 2024 election "rigged"

  • @roxannamarinak3156
    @roxannamarinak3156 Місяць тому

    Thank you for having David Cay Johnston. I really enjoy him. He is Great!

  • @TegrityUSA
    @TegrityUSA Місяць тому

    Trump's financial woes plus his desire for retribution makes him particularly dangerous

  • @jerrypeal653
    @jerrypeal653 Місяць тому

    I don’t think you hate Trump I do think you’re biased as hell . Take about what Bidens done . The LLC s the Border . And why did Trump try to undermine his own insurrection !

  • @jerrypeal653
    @jerrypeal653 Місяць тому

    Jail would likely cause a bigger problem than people think it would solve!

  • @scottprice4813
    @scottprice4813 Місяць тому

    The amazing audacity of the court to claim to be textualists on the conservative side yet despite the constitution being unwaveringly clear that no one is above the law . When Trump is trounced and democrats quite possibly have the White House and both houses of congress hopefully we can look forward to some very stringent ethics laws for the court . Abolishing lifetime appointments would be great.

  • @swoondrones
    @swoondrones Місяць тому

    SCOTUS is corrupt as fck.

  • @user-et3xi9mg8n
    @user-et3xi9mg8n Місяць тому

    DJT , SAID HE CAN BE TAKEN FOR BLACK FOLK , BY THE WAY HE PAYS HIS BILLS , ID RATHER MOVE ON UP WITH THE JEFFERSON'S THAN MOVE ON DOWN TO HIS INFIDELITY SoOH DISGUSTING !

  • @joelindsey7889
    @joelindsey7889 Місяць тому

    He would not be a PRESIDENT if elected again, he would install himself as DICTATOR.

  • @JohnAsmith-rw6uo
    @JohnAsmith-rw6uo Місяць тому

    Another far left site?

  • @marymcnabb7149
    @marymcnabb7149 Місяць тому

    Eager to see Dump in jail! Loathing pathology lier and narcissist psychopath needs prison for life.

  • @johntodd8854
    @johntodd8854 Місяць тому

    Face the facts....Putin has Pee Tapes on Trump and is simply blackmailing him to do his will. THAT SIMPLE.

  • @jodylowe8476
    @jodylowe8476 2 місяці тому

    Can we just stop getting people's hopes up about Trump going to prison. The most like scenario is that he gets convicted and sentenced to house arrest and spends his days with the cougars at maralogo. They will not imprison a former POTUS, especially a white former POTUS.

  • @davidwilkie9551
    @davidwilkie9551 2 місяці тому

    Truth, the holographic Truth, and absolutely No-thing-defined eternally outside of this Singularity-point Accuracy, positioned @ Eternity-now Centre of Logarithmic Time Duration Timing, THE observable in Perspective Principle, probabilistic resonant Precision of relevant coherence-cohesion objective Precedent. (Technical testimony to Be Here Now) Complete compliance with apparently legitimate legal conformity in Truth, is an essential understanding of Gold-Silver Rule of inherent morality, at the risk of losing your own private life be-cause-effect self-defining Actuality is conformity to universal Truth in Labelling the dominant probability of Precedent. Actual leadership is thus democratically demonstrated, individual case by case.

  • @RealtyCashSolutions
    @RealtyCashSolutions 2 місяці тому

    Unending introduction and babble.

  • @user-bd2yz1dj9x
    @user-bd2yz1dj9x 2 місяці тому

    Yes they dont dare me tio. What is going on currently in our country. This to me is pitrful as this is all political persucution. I am not stupid and have been im this world a long time..this is banana republic.

  • @user-bd2yz1dj9x
    @user-bd2yz1dj9x 2 місяці тому

    This is a bunch of crap. You people are so far left and I would not ever listen to you again. Trump 2024 and stop spreading your false info.

  • @joshuaschmude7187
    @joshuaschmude7187 2 місяці тому

    It is crazy that some people think Trump is going to 'drain the swamp,' he is the swamp!

  • @rozkovel9726
    @rozkovel9726 2 місяці тому

    I am appalled by the misinformation given here about how fixed-indexed annuities and compensation for them work! So much information was distorted or omitted. First of all, the 7% commission is never paid by the client. Clients do NOT pay the $35,000 (given as an example) out of THEIR money. Compensation is paid by the insurance company directly to the agent, not out of the client's account. The way it's described is like a fee, comparable to the 1% - 2% an advisor selling stocks, bonds, and mutual funds would make, which DOES come out of the client's money. The 7% commission is just that -- commission as a percentage of the premium. It's NOT a fee! And it's never deducted from the client's money. Secondly, the 7% is a one-time compensation for the sale, but it also includes servicing for as long as the annuity is in place...which could be forever. So, ongoing service is not compensated with an annuity, whereas market advisors continue to earn their fees. Even though the client may change advisors, they're paying fees to someone as long as their money is in the market. The one-time 7% commission is compared to the ongoing 1%-2% fees and of course the 7% sounds high; but that's comparing apples to oranges. The breakeven between an insurance agent's one-time commission and a market-based advisor's ongoing fees averages 5 to 7 years. Most people who pay market-based advisor fees pay their advisors for decades. Anybody who can do simple math will understand that annuity advisors earn far less over time on the same amount of money! Third, a fixed-indexed annuity cannot be compared to anything the market has to offer because all market products have risk, whereas a FIA is guaranteed to never lose money. That point was never emphasized but it should be. The DOL has tried before to classify a fixed-indexed annuity as a security; securities have the risk of loss but FIAs do not. They are clearly not securities (like Variable Annuities) and should not be regulated as such. And finally, guaranteed income annuities offer something a stock, bond, or mutual fund cannot: longevity credits. There is nothing in the market that will pay you when you have no money in your account. All of these points should have been made. The fixed-indexed annuity is an excellent retirement vehicle but this interview makes it sound like a scam. I'm a big fan of yours, Larry, and I know you know the above-mentioned benefits. I'm not sure why you didn't correct Mr. Pechter. His (mis)information does listeners a great disservice.