Listen: Behavioral Economics: What's It All About?
The Bernie Saffran Memorial Lecture by Timothy Taylor
Timothy Taylor offers the 2014 Bernie Saffran Lecture, titled "Behavioral Economics: What's It All About?" Taylor is the managing editor for the Journal of Economic Perspectives at Macalester College. Behavioral economics explores what happens when individuals with common biases and cognitive limitations interact in economic settings. In some cases, markets will take advantage of people with such biases; in other cases, people can set up private and public arrangements to nudge themselves away from their own limitations. Taylor is introduced by Associate Professor of Economics Amanda Bayer.
This lecture honors the memory of Bernie Saffran, who taught and mentored generations of Swarthmore students until his sudden death in 2004. He was the Franklin and Betty Barr Professor of Economics, served as economics department chair from 1978 to 1983, and was actively involved in teaching and faculty governance at the time of his death.