Behavioural Economics Series With Michael Norton From Harvard Business School (Episode 4 Of 4)

The field of Behavioural Economics is so important because, when it comes to investing and managing our money, our emotions have the ability to lead us astray - so much so we could become our own worst enemies. Of course, decisions like a portfolios' asset allocation are crucially important in investing, but ultimately decisions like these are wasted if investors make irrational decisions at the worst possible time. The reality is, biases affect our decisions and we need to be aware of them so they're not in control. I completed a course on behavioural economics earlier this year at Harvard Business School to learn more about the processes we all use to make financial decisions. During the program I was fortunate to learn from some of the best professors in the world on the topic of Behavioural Economics, and I found it so interesting that I thought, why not have a chat with them on the Richards Report? This episode is the final episode of a four part series that I've put together. This episode I speak with Michael Norton, the Professor of Business Administration at the Harvard Business School, and a member of Harvard's Behavioral Insights Group. He co-wrote Happy Money: The Science of Smarter Spending. He has also given a famous Ted Talk on money and happiness that has been watched more than 5 million times (links available in the show notes on the Six Park website). Topics Covered include; Investing in time The Ikea effect Can money buy happiness? This podcast is brought to you by Six Park, Australia's leading online investment manager. Visit www.sixpark.com.au