The Magic of Behavioural Economics

The human brain is hardwired, for perfectly good evolutionary reasons, to use ‘System 1’ thinking (fast, intuitive, unconscious) in preference to ‘System 2’ (slow, cognitive, conscious), sometimes leading to biases, mental short-cuts and irrationality. Indeed, psychologists estimate there are over 150 biases and mental short cuts that pervade all aspects of our decision-making processes and memory.
With 28 years’ experience in finance, formerly of Goldman Sachs and now a behavioural specialist, Paul provides an interactive talk on what we can do about our and our clients’ biases. In addition he will address how we can turn them, ethically, to our advantage in business, investment and our lives. Paul is a member of the Magic Circle, so knows more than most how the mind can play tricks.
This video was recorded at The Financial Services Forum Annual Members’ Conference in November 2015.