Behavioural economics explores why people sometimes make irrational decisions. Laurie's TED Talk shows how monkeys make the same mistakes as we do when it comes to money.
Read on for some other interesting TED talks on the topic of our relationship with money...
Laurie Santos: A monkey economy as irrational as ours
Laurie Santos looks for the roots of human irrationality by watching the way our primate relatives make decisions. A clever series of experiments in "monkeynomics" shows that some of the silly choices we make, monkeys make too.
Paul Piff: Does money make you mean?
It's amazing what a rigged game of Monopoly can reveal. In this entertaining but sobering talk, social psychologist Paul Piff shares his research into how people behave when they feel wealthy. (Hint: badly.) But while the problem of inequality is a complex and daunting challenge, there's good news too. (Filmed at TEDxMarin.)
Shlomo Benartzi: Saving for tomorrow, tomorrow
It's easy to imagine saving money next week, but how about right now? Generally, we want to spend it. Economist Shlomo Benartzi says this is one of the biggest obstacles to saving enough for retirement, and asks: How do we turn this behavioural challenge into a behavioural solution?
Dan Gilbert: Why we make bad decisions
Dan Gilbert presents research and data from his exploration of happiness — sharing some surprising tests and experiments that you can also try on yourself. Watch through to the end for a sparkling Q&A with some familiar TED faces.
Keith Chen: Could your language affect your ability to save money?
What can economists learn from linguists? Behavioral economist Keith Chen introduces a fascinating pattern from his research: that languages without a concept for the future — "It rain tomorrow," instead of "It will rain tomorrow" — correlate strongly with high savings rates.