Jessica Higgins, JD MBA is a highly credentialed and experienced business growth consultant. She gets involved in unique opportunities at the crossroads of finance, technology, and marketing to create innovative growth. She holds investment and advisory positions in a portfolio of companies and is a published author who writes about her business and personal passions. Her first book, The 10 Essential Business Communications Skills, released at #1 on Amazon New Releases for Communication and Behavior Skills. She has given keynote speeches on topics ranging from culture to emergent technologies. in addition to her graduate degrees in law and business, and her undergraduate degrees in behavioral psychology and political science, She Holds certifications in operations management, operations design and behavioral design. she lives in Miami, FL, San Diego, CA and Washington, DC.

For speaking engagements, interviews and other inquiries please contact her publicist, Kat Fleischman, at kathfleisch@gmail.com. 

How One Behavioral Scientist Killed Economics

How One Behavioral Scientist Killed Economics

Jessica Higgins

I'm sure you've seen the controversy over a disruptive behavioral science guy taking the Nobel Prize in Economics. 

It took a disruptive behavioral science guy to make a fuss about human decision-making for over 20 years to make economists realize that we humans don't base our decisions on logic.

For example, economic models posit that if you have information available to you, you will do your research before making your decision.

Many economists still work from this framework today. The definition of irrational behavior. 

Widespread obesity, financial irresponsibility, unhealthy behaviors: these are among the areas that Thaler improved through behavioral-based economic mapping. 

Thaler campaigned for a more holistic and realistic understanding of human nature. The road was not easy, and even now is rife with contention.

People enjoy their models. They even get stuck in them.

How much more can we do if we step outside them and look at the real world as it really is?

If you are working in economics (or really, any field), without understanding the behavioral side, you might want to be reconsidering your place in the world right about now. 

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