Irrational Markets Or Irrational Individuals? Designing 'Smart' Environments Improve Decision-Making and Make Markets More Efficient
Category: BUSINESS
How can markets be made efficient when people aren't? Apparent market failures are often attributed to individuals making apparent 'irrational' decisions. However, I argue that markets can be made more efficient when creating environments for individuals that aid their decision-making.
By Jon Jachimowicz, ContributorPhD Student in Management at Columbia Business School, 2014-08-14