“‘Oh no, I am so completely fair and rational.’—That’s not true.”
What do Devil's Advocates, information cascades, egos, and gender pay equity have in common? Find out here as Prof. Ananish Chaudhuri introduces experimental economics. Part 1/2
Prof. Chaudhuri introduces behavioural and experimental economics [04:38]; talks about how to start experiments by using existing published knowledge, first [12:25]; carrots & sticks versus intrinsic motivation [14:37]; wisdom of the crowd versus information cascades [29:30]; HR and gender pay equity [16:58]; individual versus group decision making [33:46]; electronic betting markets [35:43]; egos and buy-in [38:08], and more.
A bonus, paid-members-only follow-up discussion available on the personal Premium podcast feed (subscribe by clicking here) will dive much deeper into all the above + online experiment platforms & how to use them to set up experiments in your firm, separating incentives from beliefs, COVID vaccines & response, Pilots versus Doctors making mistakes, and much-much more.
Next week, we’ll look at corporate experimentation, crisis response, psychological safety, creativity, and more with Dawie Olivier—an established CIO and advisor to corporates & start-ups.
Last week, we introduced complexity theory and set up the experimentation contexts with JP Castlin.
Links to Some of Prof. Chaudhuri’s Work
- WWW: https://ananishchaudhuri.com/
- LinkedIn: https://www.linkedin.com/in/ananish-chaudhuri-571782203/
- Twitter: @ProfAnanish
- Behavioural Economics and Experiments (book, 1st edition): https://www.amazon.com/Behavioural-Economics-Experiments-Ananish-Chaudhuri/dp/0367463938/
Some Other Links Mentioned
- Could Blind Job Interviews Take on Gender Pay Pap? | Newsroom
- See Great Leadership: The Obligation to Dissent (greatleadershipbydan.com) for the discussion of the concept and the suggested antidote.
