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Category: Daniel Kahneman

Robotics | IoT

Can Tracking Our Hormones Make Us Smarter With Money?

Let’s face it: most of us suck at managing money. According to a National Bureau of Economics working paper published this March, roughly three quarters of all American households carry some form of debt. 40% haven’t paid off their credit cards. Nearly half have no savings at all. And the US isn’t alone: Canada, the UK and Australia are in roughly the same debt-ridden neighborhood. There’s no doubt that we’re bad with money. But according to Richard Thaler, an economist at the University Chicago, we’re not (entirely) to blame. Economists have traditionally looked at human behavior through a distortion field, he explains…. read more