How to stop being a victim of your emotions and spend money wisely.

 The basic premise of traditional economics is that humans are rational beings and make decisions using their reason. Then behavioral economics emerged, challenging this theory. The young American scholar, Dan Ariely, says that humans are predictable, but irrational.

 In his lectures, The Psychology of Money, Dan Ariely warns against our propensity to make monetary decisions with our emotions rather than with reason. Using the way we feel to make these choices leads us to think irrationally and-more often than not-leads us to the wrong decision. So how can we spend wisely using sound reason? You can find a clue in Professor Ariely's words: humans are irrational but predictable. When they make money-related decisions, humans have made countless repeated mistakes for the past hundreds of years. These mistakes are a pattern of thoughts and actions shared by many, not just the irrational outliers. Finding out this pattern is what behavioral economists' research is centered on. Understanding this pattern decreases tendency to make irrational monetary decisions.
 

 Professor Ariely approaches the tricky theme of money in a straightforward and fascinating way, introducing his numerous experiments and their results. In this lecture, you'll get the wisdom to live a better life with your money as you learn how to spend it better-and perhaps more rationally.