In our 2nd conversation with Prof. Ananish Chaudhuri, Professor sets the homework on what to read and what tangible actions to practice when dealing with biases, how to deal with them from an organizational point of view, how to use electronic decision markets to set up experiments in your firm; we also cover Devils and Advocates, checklists, bubbles and crashes and sleep deprivation and hidden risks and much much more.
Last Episode, we introduced experimental & behavioural economics, group versus individual decision making, electronic betting markets and how they relate to experimentation, and more.
Next Episode, we cover experimentation from the corporate point of view, psychological safety, continuous learning, curiosity, and more with an established CIO and advisor, Dawie Olivier.
Part 2 Intro [00:00]
On the Digital Online Large-Scale Experiment Platforms. Or, Why I Do Not Need a Lab Anymore [01:20]
Going Deeper: More on Electronic Betting Markets, Putting Money Where the Mouth Is, Experiments, COVID-19 Vaccines [02:43]
Going Deeper: More on Separating out Beliefs from Incentives, Decision Markets, Biasing Decisions [08:28]
On Going to the Field, Experiments Versus Market Research, and More on Why I Do Not Need a Lab [11:00]
The Homework 1: Useful Reading [13:47]
The Homework 2: Useful Actions [18:42]
The Homework Discussion: Real-World Applications of Behavioural Game Theory: Medical Doctors and Pilots
The Homework Discussion: Real-World Applications of Behavioural Game Theory: Police and Race
The Homework 2: Useful Actions Wrap-up + Discussion on When to Rely on Gut Feelings
On Heuristics, Context Dependency, Experts and Skin in the Game [27:11]
Own Work of Ananish as It Relates to Experiments and Decision Making; Plus More on COVID-19 Response, Sleep, Bubbles, Crashes, Checklists, and Macro Versus Micro Questions [38:38]