Behavioral markers matter.

We call these behavioral markers.

Behavioral finance has a long way.

No behavioral problems, a few absences.

So we've got these challenges, and what Richard Thaler and I were always fascinated by take behavioral finance, make it behavioral finance on steroids or behavioral finance 2.0 or behavioral finance in action flip the challenges into solutions.

Behavioral is subconscious, you're unaware of it.

One is behavioral finance is extremely powerful.

This session today is about behavioral economics.

My mission order overrides standard behavioral protocols.

Now you might ask, what is behavioral finance?

The other 90 is behavioral and social factors.

Seems to defy the laws of behavioral physics.

Some visitors came, using various behavioral change tricks

I mean, it's routine. It's like behavioral software.

The program, in a sense, is an example of behavioral finance on steroids how we could really use behavioral finance.

How do we take an understanding of the money mistakes people make, and then turning the behavioral challenges into behavioral solutions?

So we've chatted about a couple of behavioral challenges.

But as Charlie Munger says, If economics isn't behavioral,

I don't have to be in a behavioral context.

So how does this all relate to behavioral finance?

So, these are what I would call behavioral markers.

It's the, uh, behavioral stuff that's been a problem.

In, psychology and in social sciences, behavioral sciences in general.

Automatic behavior skilled behavior is subconscious, controlled by the behavioral side.

More generally, I want to tell you something about behavioral economics.

Tiny little behavioral economics detail in Italy, penalty points go backwards.

We tend to think of energy use as a behavioral thing

This led me, as a behavioral economist, to an intriguing hypothesis.

We have to understand why people are not saving, and then we can hopefully flip the behavioral challenges into behavioral solutions, and then see how powerful it might be.

One area is called experimental economics. The other area is called behavioral economics.

Now, behavioral economists might refer to this sort of thing as loss aversion

Unmarried. No siblings. His father is retired SAS, mother is a behavioral therapist.

And when you are here at school, there have been some behavioral questions.

These discoveries of behavioral markers, and behavioral changes are game changing, and like the discovery of the microscope because of our collecting data streams that we've actually never done before.

He created this experiment that is used in many other experiments in behavioral science.

Let me now talk about another behavioral obstacle to saving having to do with inertia.

So we talked about all sorts of behavioral challenges having to do with savings eventually.

This is all behavioral autonomy here that's being conducted by the robot on its own.

But very, very recently, it's been possible to modify these sorts of behavioral arenas for physiologies.

Because in most of the life of the brain this is under control of behavioral context.

And we can harness this resource with no new material science simply by applying behavioral science.

I mean from a public health level, where my training is you're looking at behavioral issues.

We have a behavioral superpower in our brain, and it at least in part involves dopamine.

You know here we're sort of doing this as applied statistics for behavioral sciences like psychology.

And yet, what behavioral economics shows time after time after time is in human behavioral and behavioral change there's a very, very strong disproportionality at work, that actually what changes our behavior and what changes our attitude to things is not actually proportionate to the degree of expense entailed, or the degree of force that's applied.