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Behavioural Economics and Nudges: Shifting Paradigms in Decision-Making

Behavioural Economics and Nudges: Shifting Paradigms in Decision-Making
When
Friday, 08 Mar 2024, 05:30 pm–07:00 pm
Venue
Seminar Room 3-1, College of Integrative Studies / School of Social Sciences, Level 3, Singapore Management University
Speaker Details

Yohanes Eko Riyanto

Yohanes Eko Riyanto

Yohanes Eko Riyanto is Professor of Economics and Chair of the School of Social Sciences (SSS) at Nanyang Technological University (NTU). He holds a PhD in Economics from the Catholic University of Louvain, Belgium. His research in experimental and behavioural economics uses laboratory experiments to explore individual economic decision-making processes influenced by personal preferences, environmental factors, and strategic interactions, integrating concepts from microeconomics, game theory, and behavioural sciences. His research has been featured in Journal of Finance, Journal of Economic Theory, Review of Economics and Statistics, Management Science, Games and Economic Behaviour, International Economic Review, and Experimental Economics, among others.

Series
Distinguished Speaker Series: Economics and Society
Open To
SMU Community, Public
Event Synopsis

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Description automatically generated with medium confidence

The figure above demonstrates the Müller-Lyer illusion, where equal-length lines appear different due to cognitive processing, illustrating how perceptions can mislead us – a key concept in Behavioural Economics. This field explores how psychological attributes affect economic decisions. Our lecture will first examine examples of how these attributes lead to seemingly irrational decisions. Then we will discuss leveraging an understanding of behavioural biases to subtly influence decision-making contexts, nudging individuals towards more desirable choices.