These days it seems that economists are the go-to people to explain many of the world’s ills, from sub-prime lending to credit default swaps to Ponzi schemes to the bad, emotionally charged decisions that we make with our own money. Dan Ariely, a behavioral economist, has some first-hand insight into how one self-destructive financial decision can thrust us into a downward spiral of many bad decisions. Dan Ariely is the James B. Duke Professor of Behavioral Economics at Duke University and author of Predictably Irrational.
What bad economic decisions have you made? Tell us!
"Whenever you think of a situation where your emotion can get the best out of you, it's good to get a person between you and that decision."
— Professor Dan Ariely on how to make better financial decisions