Rory Sutherland on Heuristics and Biases/ 42Courses Behavioural Economics Course

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Rory Sutherland of Ogilvy talks about heuristics and biases and why you should learn behavioural economics:
"So this is my personal opinion but I think I'd hold to it fairly strongly which is that you should only study behavioural science and behavioural economics in parallel with a little bit of study of evolutionary psychology and evolutionary theory and the reason I believe this is vital is because you will hear words like heuristics and biases bandied around fairly frequently and because the word bias has a pejorative connotation it's very easy to accept the economists' view that every time that human behaviour differs from that is believed to be optimal in the standard economic model and therefore humans are actually adopting some sort of suboptimal behaviour."
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[@god5535]

This guy is a fuckin genius.

[@johnanderson2654]

Rory......wasn't it heuristics that Paul Erdos (world's most prolific mathematician?) used to solve the Monty Hall problem, in which he was a famous failure. It remarkable because the proof of the correct answer to the Monte Hall problem is so simple. .............therefore would you agree that "all heuristics are wrong, and some are useful".......?

[@god5535]

interesting...

[@RJYounglingTricking]

love this guy so much. Could listen to him for days.