The Men Who Started A Thinking Revolution

Season 6, Episode 29 On this week’s episode of Freakonomics Radio: Stephen J. Dubner interviews Michael Lewis about the two men who created behavioral economics, redefining how humans think and changing our world. Among the discoveries discussed on this episode, this one comes from psychology: human behavior is influenced, not only by our inner bearings, but by our […]

The Men Who Started a Thinking Revolution

Starting in the late 1960s, the Israeli psychologists Amos Tversky and Danny Kahneman began to redefine how the human mind actually works. Michael Lewis’s new book The Undoing Project explains how the movement they started — now known as behavioral economics — has had such a profound effect on academia, governments, and society at large.

How To Win A Nobel Prize: A New Freakonomics Radio Episode

Our latest Freakonomics Radio episode is called “How To Win A Nobel Prize" (You can subscribe to the podcast at iTunes or elsewhere, get the RSS feed, or listen via the media player above.)

The gist: the Nobel selection process is famously secretive (and conducted in Swedish!) but we pry the lid off, at least a little bit.

How to Think About Money, Choose Your Hometown, and Buy an Electric Toothbrush: A New Freakonomics Radio Podcast

Our latest podcast is called “How to Think About Money, Choose Your Hometown, and Buy an Electric Toothbrush.” (You can download/subscribe at iTunes, get the RSS feed, or listen via the media player in the post. You can also read the transcript below; it includes credits for the music you’ll hear in the episode.) It’s another installment of our FREAK-quently Asked Questions, in which Stephen Dubner and Steve Levitt answer questions from you, our readers and listeners. 

Steve Reda, a 22-year-old in the Washington, D.C., area, asks if kids today are more careful using credit as opposed to cash. (It's a question that makes Dubner recall his salad days, back when he fell in love with economics and the "mental accounting" research done by Richard Thaler, Daniel Kahneman and Amos Tversky.) This leads to a conversation about spending in general, which leads to Levitt’s counterintuitive advice for the youth of today (advice passed down from Milton Friedman to José Scheinkman and on to Levitt):