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The Psychology of Money

Stanford University

Jeffrey Hancock is a Professor of Communications at Stanford University. He was the Chair of the Information Science Department, and the co-Director of Cognitive Science at Cornell University. He is interested in social interactions mediated by information and communication technology, with an emphasis on how people produce and understand language in these contexts. His TED Talk on deception has been seen over 1 million times and he has been featured as a guest on CBS This Morning for his expertise on social media.

Overview

Thinking intelligently and doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people!

Money (ie investing, personal finance, and business decisions) is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a restaurant or an elevator, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.

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Peter Kahn

Great lecture. Can’t wait for the next one.

2 years ago

Wendy Meer

Psychology of Money

Thank you. Great presentation and informative.

2 years ago

Devansh Trivedi

Life-changing insights about wealth and happiness

I understood the perils of extreme income inequality and its measurement Gini coefficient. Even the richest are not exempt from the health & social problems. I also learned how comparisons can make us value (black pearl) or not value (income compared to sister’s husband) something. And how completely unnecessary (bigger bread maker) or unrelated (someone else’s yacht) options skew our valuation and thereby fairness, satisfaction and happiness. I can’t thank enough for the ‘Pretty Good Books’ recommendations, especially the one with Consumption Tax idea, I had often wondered the same approach. By the end of the talk, I have a new perspective for what I consider to be an ideal society: one with Social Mobility. I am just astounded by how childishly gullible we are.

2 years ago

Hans Bleiker

Enjoyed learning about the subject that you are teaching. It’s important information for public-sector decision-makers. Low taxes may be popular but not necessarily what society needs when we think back to the golden era of the USA.

2 years ago

nitelle.lading

The Psychology of Money

Excellent lecture. Learned so much and it went very quickly.

2 years ago

Andrew Varga

Enlightening

Very timely, informative, and enlightening lecture.

2 years ago

barbara ann.fields

Listened Again

When I first listened to your talk, I was sure that you were speaking idealistically but I see that it is achievable with some reparations to enslaved people. I am sure that those who acquired their wealth through slavery and other means of servitude will not give up anything volunteerily. It is one thing to talk about it, it is another to work toward it. That is an uphill battle carrying a boulder on one’s back and doing it on slippery rocks. But we can still dream can’t we.

1 year ago