Ep. 336: Colin Camerer Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 17 April 2015
⏱️ 53 minutes
🧾️ Download transcript
Summary
My guest today is Colin Camerer, an American behavioral economist and a Robert Kirby Professor of Behavioral Finance and Economics at the California Institute of Technology (Caltech). Camerer's research is on the interface between cognitive psychology and economics. This work seeks a better understanding of the psychological and neurobiological basis of decision-making in order to determine the validity of models of human economic behavior. His research uses mostly economics experiments—and occasionally field studies—to understand how people behave when making decisions (e.g., risky gambles for money), in games, and in markets (e.g., speculative price bubbles).
The topics are cognitive psychology and economics.
In this episode of Trend Following Radio we discuss:
- Why Camerer was called a child prodigy, and how he looks at that term in the context of nurture vs. nature
- Synthesizing behavioral economics and neuroscience; understanding Camerer's studies when traders aren't looking at the market on a day-to-day basis; how we can stimulate the brain to create a bubble
- The ethical issues surrounding Camerer's work
- Machine learning and data mining
- Neuroscience and game theory
- Comparing humans and chimps in the study of neuroscience
- How trust correlates with economic growth
- How emotion functions in the modern world
Jump in!
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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/
You can watch a free video here: https://www.trendfollowing.com/video/
Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast
My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel
Hope you enjoy my never-ending podcast conversation!
Transcript
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| 0:00.0 | This is Trend Following Radio, where great thinking comes alive. |
| 0:10.9 | Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings. |
| 0:21.1 | I am your host, Michael Covel, not filtered, raw, honest. |
| 0:27.4 | That's my passion. |
| 0:32.9 | My guest today is Colin Kemmerer, an American behavioral economist and a Robert Kirby professor |
| 0:40.1 | of behavioral finance and economics at the California Institute of Technology, otherwise known as Caltech. |
| 0:48.0 | Colin brings a damn interesting perspective to my show. |
| 0:55.2 | Behavioral economics, game theory, neuroscience, |
| 0:59.9 | he's got his hands dipped into everything. |
| 1:03.2 | All the cool stuff. |
| 1:05.7 | Want to know what's going on inside our minds? |
| 1:08.9 | When we make the decision to run up that bubble, what is actually |
| 1:15.3 | igniting? What can you see inside the mind at the moment of a crash? What does the mind look like |
| 1:22.3 | as the bubble extends up? Some of the fascinating topic areas that Colin goes into. |
| 1:30.4 | I feel forever fortunate that I can have some of the brightest people in our modern |
| 1:36.3 | day world appear and just talk a little shop with me. |
| 1:40.8 | I hope you enjoy this episode with Colin Kammerer. |
| 1:52.0 | Thank you. I hope you enjoy this episode with Colin Kammerer. Oxford's a cool place. |
| 1:53.3 | Very, very mellow. |
| 1:55.4 | There's this old Pink Floyd song that's about staying off the grass. |
| 1:59.8 | What's the song? |
| 2:00.3 | The lunatics are on the grass. That was all about not walking on the grass at Oxford. Oh, about staying off the grass. What's the song? The lunatics are on the grass |
... |
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