Behavioral Problems Need Behavioral Solutions

The finance industry has gone from intuitively exploiting behavioral biases, to endlessly labeling them, to discussing how to “correct” them, to (finally) start talking about how to work productively with people who are inherently… people. Messy, regular, (sometimes self-aware) people.   Richard Thaler, long a lighthouse on these BeFi seas, said it beautifully in his book … Continue reading Behavioral Problems Need Behavioral Solutions

Podcast Of The Week: The Behavioral Finance Entertainment Complex

This Brian Portnoy take really resonated with me. He says we (the finance industry) have created a “Behavioral Finance entertainment complex that does very little to help real people make real decisions.”  In a nutshell, people are predictably irrational (as Dan Ariely put it).  We know a lot of ways these irrationalities manifest.  In the … Continue reading Podcast Of The Week: The Behavioral Finance Entertainment Complex