Advancing Behavioral Economics with Colin Camerer

Masters in Business

Bloomberg

Business, Investing

4.4 • 2.2K Ratings

🗓️ 14 November 2024

⏱️ 94 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Barry Ritholtz speaks with Colin Camerer, Robert Kirby Professor of Behavioral Finance and Economics at California Institute of Technology. Prior to joining Caltech in 1994, Camerer was a faculty member at various institutions including the University of Chicago GSB and the Kellogg Graduate School of Business at Northwestern University. He also held a visiting professorship at Oxford University. He is a member of the American Academy of Arts and Sciences and holds fellowship at the Econometric Society, and the Society for the Advancement of Economic Theory. Camerer has also authored numerous academic papers and books, like "Behavioral Game Theory: Experiments in Strategic Interaction."

On today's episode, Barry and Colin breakdown the behaviors that drive our financial decision making.

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Transcript

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0:00.0	While the business world is readjusting to AI, there's another technology just around the corner that's going to be equally as transformative.
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0:59.6	This is Masters in Business with Barry Rittles on Bloomberg Radio.
1:07.5	This week on the podcast, finally I get Colin Kamara in the studio to talk about neuroeconomics, behavioral finance, and really all the fascinating things he's been
1:13.9	doing at Caltech for the past. Gee, he's been there for almost 30 years. Is that about right?
1:20.5	He's really an interesting guy, not just because he has the mathematical and behavioral finance
1:26.3	background, but because he essentially asked the question,
1:30.9	what's going on inside our brains when we make decisions? What's happening before we even have a
1:36.9	degree of awareness of our own decisions? I just find what he does fascinating, not just fMRIs, but eye tracking and eG and galvanomic responses
1:50.1	of the skin and just on and on all these different ways to measure what's going on with your
1:55.3	hormones, what's going on pharmacologically within your body, it's both fascinating and terrifying because you come to realize
2:05.9	what you think is a decision you're making.
2:08.9	Very often is a decision your brain is making with or without you.
2:14.1	I found our conversation to be absolutely fascinating.
2:16.8	And I think you will also,
	...

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