In this talk, Laurie Santos has presented that the mistakes which human being made are predictable via a clever experiments in "monkeynomics". Through the decision-making of our primate relatives, this experiment reveal the roots of human irrationality.
Let's do the two experiments first,
Experiment 1. Choose a better investment return if you have $1000.
(a) The return is either $1000 or $0 when you have invested $1000 in a fixed period.
(b) The return is guarantee $500 when when you have invested $1000 in a fixed period.
Experiment 2. Choose a better way when you are facing lost in your investment.
(a) The lost is either $0 or $1000 when you have invested $1000 in a fixed period.
(b) The lost is guarantee $500 when when you have invested $1000 in a fixed period.
Want to know the answer? Please enjoy the talk from Laurie Santos in TED.
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Written by: Xaivier Chia
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