Behavioural Economics

Good decision-making is a crucial skill not only in business but in life. In this interview, entrepreneur, investor and poker player Sebastian Park advises how to make good decisions in a world of uncertainty, how to evaluate past decisions for future improvement, and how fiction can help us reflect on the choices we make.

What can we draw from behavioral science to help us better understand each other? Nicholas Epley, Professor of Behavioral Science and Faculty Director of the Center for Decision Research at the University of Chicago Booth School of Business, recommends the five best books for learning about an interdisciplinary field that draws from psychology, sociology, economics and anthropology.

"You have to understand people first before you can understand how to devise an economic system for them" argues Robert J Shiller, the Yale economics professor and Nobel laureate. He chooses five books that explore who we fundamentally are, as human beings, and how that will determine the shape of a successful capitalism.

We can all be more aware of our surroundings and our decision-making process, says the professor of psychology and behavioural economics, Dan Ariely. He recommends five books to help us maximise our prosperity and well-being.

Behavioural economics is a very new field, but its insights have huge ramifications for our daily lives, including life-or-death decisions. Here, author Jonah Lehrer talks us through some of its most important works.