We make thousands of decisions every day. Do I cross the road now, or wait for the oncoming truck to pass? Should I eat fries or a salad for lunch? How much should I tip the cab driver? We usually make these decisions with almost no thought, using what psychologists call “heuristics” – rules of thumb that enable us to navigate our lives. Without these mental shortcuts, we would be paralyzed by the multitude of daily choices. But in certain circumstances, these shortcuts lead to predictable errors – predictable, that is, if we know what to watch out for. Did you know, for example, that we are naturally biased towards selling investments that are doing well for us, but holding on to those that are doing poorly? Or that we often select sub-optimal insurance payment plans, and routinely purchase insurance that we don’t even need? And why do so many of us fail to enroll in our employer’s corporate retirement plans, even when the employer offers to match our contributions?
About this Course
Learner Career Outcomes
Skills you will gain
Learner Career Outcomes
Duke University has about 13,000 undergraduate and graduate students and a world-class faculty helping to expand the frontiers of knowledge. The university has a strong commitment to applying knowledge in service to society, both near its North Carolina campus and around the world.
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TOP REVIEWS FROM BEHAVIORAL FINANCE
The course was good and the material was interesting. I wish that the course were more video-based however. There are some videos but they are meant to be played at specific points during the reading.
Good course! There is just one thing I would improve here - an explanation of the mistakes after the tests are done. This improvement should increase the student`s understanding of specific topics.
This course was a very good sum up of Daniel Kahneman's thinking fast and slow. Definitely recommend to everyone who would like to know more about our flaws or would like to refresh your knowledge.
The course was pretty good, required a lotta pre requisites and most of all the professors were amazing but didn't teach much less scenarios and no answers to the questions asked in assignments
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