Prime logo Prime members: New to Audible?
Get 2 free audiobooks during trial.
Pick 1 audiobook a month from our unmatched collection.
Listen all you want to thousands of included audiobooks, Originals, and podcasts.
Access exclusive sales and deals.
Premium Plus auto-renews for $14.95/mo after 30 days. Cancel anytime.
Behavioral Economics  By  cover art

Behavioral Economics

By: Scott Huettel, The Great Courses
Narrated by: Scott Huettel
Try for $0.00

$14.95/month after 30 days. Cancel anytime.

Buy for $33.90

Buy for $33.90

Pay using card ending in
By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.

Publisher's summary

Behavioral economics is the study of decision making, and of the related themes of valuation, exchange, and interpersonal interactions. Using methods from psychology, sociology, neurology, and economics, behavioral economics sheds light one of the most fundamental activities of human life:the decision process. In 24 insightful lectures, you'll learn how behavioral economists look at decision making and explore a set of key principles that offer deep insight into how we evaluate information and integrate different factors to make decisions. Most important, using real-life illustrations and case studies, each lecture offers practical tools, so that you can understand the patterns of decision making, the purposes they serve, and how to use your knowledge to make better and more satisfying decisions.

In grasping the underlying factors in decision making, you'll explore key topics such as decisions regarding probability, time-related decisions, managing risk, high-stakes medical decisions, and group decision making. Professor Huettel illustrates each concept with meaningful examples, analogies, and case studies, relating the material directly to the decisions all of us make as a central part of living. This unique course gives you essential knowledge and insights for one of life's most important skills.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.

©2014 The Great Courses (P)2014 The Teaching Company, LLC

What listeners say about Behavioral Economics

Average customer ratings
Overall
  • 4.5 out of 5 stars
  • 5 Stars
    832
  • 4 Stars
    347
  • 3 Stars
    115
  • 2 Stars
    18
  • 1 Stars
    12
Performance
  • 4.5 out of 5 stars
  • 5 Stars
    716
  • 4 Stars
    276
  • 3 Stars
    100
  • 2 Stars
    23
  • 1 Stars
    12
Story
  • 4.5 out of 5 stars
  • 5 Stars
    663
  • 4 Stars
    291
  • 3 Stars
    117
  • 2 Stars
    18
  • 1 Stars
    10

Reviews - Please select the tabs below to change the source of reviews.

Sort by:
Filter by:
  • Overall
    4 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    4 out of 5 stars

The Unknown Unknowns

Merriam-Webster defines economics as "a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services." Theories and concepts are dense and often mystifyingly complex - see, for example, Thomas Piketty "Capital in the 21st Century" (2013).

Sometimes economics don't make monetary sense - and that's where Behavioral Economics comes in. Scott Huettel, PhD's "The Great Courses: Behavioral Economics: When Psychology and Economics Collide" (2013) is a series of 24 lectures, about half an hour each, on that fascinating subject. Huettel explains why money really isn't everything, especially when what seems 'rational' about spending doesn't override people's social behaviors. For example, it might be more important to punish a cheater or thief even if it costs the person meting out the punishment more money and time than it would have to walk away - see Lecture 2. As a litigator, I see this in action all the time - and benefit from it, quite frankly - but until I listened to Huettel's lectures, I wasn't sure why it was happening.

Because of Lecture 15, "The Value of Experience" I discovered why something I've thought for a long time was true: it's not the things that you buy but the things that you do that make a difference. A week ago, I was in Florida, traveling with a group and not quite on vacation. The airboats and alligators of "Wild Florida" were close, and, armed with the knowledge that we were going to remember the experience forever - and the psychology of why - I happily talked the group into going. I realized that the class helped me feel more confident about my own economic decisions.

Huettel's course is great listen for fans of Dan Ariely's "Predictably Irrational: The Hidden Forces That Shape Our Decisions" (2008).

The title of the review is from one of the lectures. It turns out that "known unknowns" and "unknown unknowns" make sense in Behavioral Economics, even if they don't for Donald Rumsfeld.

[If this review helped, please press YES. Thanks!]

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

61 people found this helpful

  • Overall
    4 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    3 out of 5 stars

Recommended for

if you have already read thinking fast and slow then don't bother. You don't need to read this.

however if not, go for it. The course has same content but a short version of it. I really like he starts with chapter title and summarize at the end. I wish the stories were more interesting.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

49 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Stating the Obvious

This course lists a lot of behavioral ideas we know but don't know we know, in excellent examples and words. Stimulating.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

33 people found this helpful

  • Overall
    3 out of 5 stars
  • Performance
    2 out of 5 stars
  • Story
    4 out of 5 stars

brilliant, perhaps, but definitely boring

Would you say that listening to this book was time well-spent? Why or why not?

I loved the concepts and empirical work. I simply couldn't listen for more than about 15-20 minutes. Since I was driving I couldn't risk falling asleep.

What was one of the most memorable moments of Behavioral Economics?

The number of times he was able to illustrate that pop psychological notions about human behavior often couldn't be farther from the facts of the matter.

How did the narrator detract from the book?

His voice is essentially monotone, but he has a bit too much of self-importance (perhaps?). the fake clapping at the end of a chapter was over the top (and led me to the sense of his excessive self-importance--really, who needs fake clapping in a studio recording???).

Did Behavioral Economics inspire you to do anything?

Yes, question assumtions about motives and motivations.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

22 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    3 out of 5 stars
  • Story
    5 out of 5 stars

Excellent coverage of material, but a bit dry

The same material is covered in a much more entertaining way by reading some of the source material. Specifically, The Undoing Project by Michael Lewis covers the work of Kahneman and Tversky, while Thaler's own work is covered in Misbehaving.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

14 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Clear and effective

Great course! Clear, well structured, most useful.
The best way to teach is to stimulate the other own thought!
Glad I got this book. Only regret that it wasn't earlier...
Thanks Professor Huettel!

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

14 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Love the topic

Would you listen to Behavioral Economics again? Why?

Would for sure- the topic is very interesting to me (intersection of economics and psychology).

Was this a book you wanted to listen to all in one sitting?

It'd be tough

Any additional comments?

Its a good lecture- give it a go if you have any interest in the topic

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

11 people found this helpful

  • Overall
    4 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    4 out of 5 stars

Great to understand how we make decisions

This is a great exploration of how we make decisions, understand value and how to use those same concepts to make better decisions.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

9 people found this helpful

  • Overall
    3 out of 5 stars
  • Performance
    2 out of 5 stars
  • Story
    3 out of 5 stars

Fundamental Errors Taint Overall Good Observations

Would you say that listening to this book was time well-spent? Why or why not?

Professor Huettel is comitting the fundemental error of using the label 'money' as a motivator. Of course money is always just a placeholder for what the recipient thinks he might be able to spend this money own or even give it away - hence the underlying motivation could be greed but could also be altruism - i.e. when the recipient passes on the money to another party without expecting a return (charity). So, referring to money for motivation is actually not saying anything at all.

What was your reaction to the ending? (No spoilers please!)

No true insights.

Would you be willing to try another one of Professor Scott Huettel’s performances?

Not likely.

Could you see Behavioral Economics being made into a movie or a TV series? Who should the stars be?

Not sure .. maybe Steven Levitt.

Any additional comments?

Professor Huettel should listen to Steven Novella's 'Your Deceptive Mind'.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

7 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Great introductory primer to behavioral economics

Very approachable. Concept rich text broken up into topical lectures. Left off on the topic of "nudge" and will be the follow on book that I download: Nudge.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

6 people found this helpful