ESA 2016 Young Economist Prof. Lionel Page - - Speaker: Lionel Page
From: Friday September 16, 2016, 12:15 pm
To: Friday September 16, 2016, 1:45 pm
An insight into Behavioural Economics
The Economic Society of Australia (Qld) invites you to a luncheon address by Prof. Lionel Page.
Behavioural economists have gathered a large amount of evidence undermining the model of the cold (often selfish) rational economic man (Homo Economicus). From this accumulated evidence it appears that people often make mistakes: they have inconsistent preferences; they fail to commit to their plans; they are influenced by their emotions.
A deeper understanding of decision making processes shows that in many cases “irrational behaviours” have good reasons to exist. In many ways the old standard model of Homo Economicus is not the optimal solution to the complex world the Homo Sapiens evolved to live in. Many of the seemingly “irrational” deviations are better adaptations to the real world than what was considered the “rational” standard of behaviour in simplified models considered by economists.
The insights arising from behavioural science is that people are very good at using their limited cognitive resources to making decisions in a highly complex environment.
This presentation will review a few of these situations and show why, in many ways, our “defaults” make us smarter than we think.
|Time:||Arrive at 12:15 for 12:30 start, to conclude by 13:45|
|Venue:||Morgans Financial Limited, Level 29, Riverside Centre, 123 Eagle St, Brisbane|
|Food:||Sandwich lunch provided|
|Cost:||Members $15, Non-members $25|
About the Presenter
Lionel Page completed a MA (Economics) at Pantheon-Sorbonne University, as well as a MA (Econometrics) at ENSAE ParisTech before completing his PhD at the Paris School of Economics in 2007. His work has been published extensively in areas like experimental economics, sports economics, voting analysis and risk in markets. He has worked at QUT since 2013 and is Research Leader at the Queensland Behavioural Economics Group (QuBE) in the QUT Business School.
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Morgans Financial Limited - Riverside Centre
123 Eagle Street/Level 29 , Brisbane QLD 4000
Speaker: Lionel Page