Dan Ariely is the James B. Duke Professor of Behavioral Economics at Duke University and visiting Professor at the MIT Media Lab. A behavioral economist, Ariely’s research has shown that we all succumb to irrationality in situations where rational thought is expected. He is an expert on how people actually act – and why they act – in all kinds of business and economic environments, and what this means for business innovation, strategy, marketing and pricing.
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One popular view is that the financiers involved in the economic crisis were evil human beings. Not only is this view incorrect; I worry that adapting it will not lead us to actually fixing the real problems in the market.
Here, it’s helpful to describe a set of experiments we have done with some MIT and [...]
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