5 Best Behavioural Economics Youtube Channels

Are you a student or professional looking to learn more about the fascinating fields of behavioural economics, economics, education, university, business, science, MBA, psychology, finance, and school? Then you're in luck! In this article, we'll be unveiling the top YouTube channels that provide a wealth of useful information and insight into these areas. So keep on reading to find the best YouTube channels for all your instructional needs!

Ashley Hodgson

Channel Views: ~1.8m Channel Subscribers: ~20.3k Channel Videos: ~265

Ashley Hodgson Youtube Channel

Ashley Hodgson's YouTube channel is devoted to providing insights and discussions about economic theories and issues through covering topics such as behavioural economics, microeconomic theory, game theory, economics, and blockchain. Her videos provide a deep dive into the nuances of these complex topics, giving viewers a better understanding of how they can be applied to our modern world.

42courses

Channel Views: ~237.7k Channel Subscribers: ~2.6k Channel Videos: ~140

42courses Youtube Channel

42courses is a YouTube channel that offers educational content, including e-learning courses, on topics of behavioural economics, social media, and branded learning. Led by renowned speaker Rory Sutherland, the channel offers high quality, engaging content to help learners understand and apply behavioural economics to their own lives. Whether you're a student or professional, you can take advantage of the diverse range of courses offered by 42courses.

Pete Judo

Channel Views: ~560.7k Channel Subscribers: ~13.4k Channel Videos: ~133

Pete Judo Youtube Channel

Pete Judo's YouTube channel is all about exploring the science of behavioral economics through evidence-based discussions about the brain and how our behavior is affected by psychological fact. He uses his expertise in the field to provide insight into the workings of the human brain and suggests ways to make better decisions. He has a dynamic approach in making complex topics easily understandable for everyone.

Bri Williams

Channel Views: ~46.8k Channel Subscribers: ~659 Channel Videos: ~117

Bri Williams Youtube Channel

Bri Williams' YouTube channel provides viewers with essential insights into behavioural economics, influencing skills, and behavioural techniques for empowered decision-making with persuasion. She plans to share tips on forming healthy habits for getting things done.

Ben Walker

Channel Views: ~98.4k Channel Subscribers: ~83 Channel Videos: ~24

Ben Walker Youtube Channel

Ben Walker's YouTube channel focuses on behavioural economics, helping viewers understand the principles behind this field of study. He demonstrates how human psychology and decision-making can be studied to predict consumer behaviour and inform economic decisions. Through his videos, Walker shares his insights and findings from over 20 years of experience in the field.

The Foundations of Behavioural Economics

Behavioural economics is a relatively new field of economic analysis that examines how human behaviour affects the market, financial decisions and decision-making. It combines elements from psychology, decision theory and economics in order to understand the decision-making process and identify how people systematically deviate from the strict logic of economic theory. The foundations of behavioural economics are based in understanding the cognitive and emotional elements of decision-making.

  • The behavioural economic approach proposes that economic decisions are not only driven by rational optimisation, as assumed by classical economics. Behavioural economists study the cognitive errors that humans commonly make in decision-making, looking to explain irrational behaviour. For example, behavioural economists look at why people procrastinate, fall prey to the sunk cost fallacy or miss out on deals that their rational decision-making would have enabled. They suggest that the assumptions of classical economics ignore the role of emotions, preferences and beliefs that shape our decisions and lead to irrational behaviour.
  • Behavioural economists also study the effect of social influence on decision-making. Studies have shown that the decisions of others can have a significant effect on individual behaviour. This means that an individual’s decision-making is shaped not just by their own behaviour and preferences but by those of others. This insight has important implications for socio-economic effects, marketing strategies, and product design, revealing the importance of taking the environment into account when making decisions. The advent of behavioural economics has revealed a wealth of insights into economic decision-making and how incentives influence behaviour and affect markets. This has enabled economists and professionals to design tailored incentives to optimize decision-making and effect change.

The Different Applications of Behavioural Economics

Behavioural economics looks at the way people make decisions and how these decisions can affect the economy as a whole. As a growing field, there are a variety of ways in which behavioural economics can be used to improve the lives of individuals and the economic outcomes of policy makers.

  • One of the key applications of behavioural economics is in policy making. Government and international organisations rely on contextual and behavioural evidence to inform the development of various policies. This evidence looks to understand the way people perceive a particular policy and how it affects their behaviour. Through analysing the reactions of people, policy makers are able to develop more effective strategies.
  • In the business world, behavioural economics is used to influence customer behaviour. Businesses are constantly looking to gain competitive advantages and behavioural economics gives companies the tools to do this. Companies often use behavioural economics to develop strategies that can lead to repeat purchases and emotional connections with customers. The insights provided by behavioural economics help companies to understand what customers needs are and how they can best be met.

Behavioural economics is a growing field that has applications in many areas. Whether it is in policy making or understanding customer decisions, this emerging field provides valuable insights that can be used to improve decision making. As the field continues to gain relevance, it is set to become an even more integral part of the economic landscape.

How Do Preferences Impact Behavioural Economics

Behavioural economics combines the psychological and economic elements of decision-making to understand how people make financial decisions. Preferences play a key role in shaping individual decisions, which is why understanding preferences can lead to a deeper understanding of behavioural economics. Preferences form the foundation of decision-making in behavioural economics, as they determine an individual's goals and the way these goals are prioritised.

  • Preferences are shaped by many factors, including past experiences, social pressures, cultural attitudes, and cognitive biases. Preferences can be conscious or unconscious: what someone consciously values or wants might not necessarily be what they are pursuing. Preferences also vary from person to person based on their life experiences, cultures, and ideologies. Understanding how individual preferences relate to behavioural economics requires a greater understanding of the psychological elements of decision-making.
  • Preferences can also change over time as an individual is exposed to new information and experiences. As such preferences can help to explain why individuals make the decisions they do, both in terms of investments and in terms of spending. Preferences can help to explain how and why people respond to incentives such as discounts or price breaks and how consumer behaviour changes as the economic environment changes. Preferences provide insights into how individuals value certain pieces of information when making decisions, and can provide valuable insight into how behavioural economics applies to business, finance, and economics. 

Understanding how preferences shape decision-making behaviour in economic situations can help economists to better predict future economic trends.

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