The Control Factor: How Beliefs Shape Economic Decisions

Dive into the intriguing world of belief elicitation with researchers Jean-Pierre Benoît, Juan Dubra, and Giorgia Romagnoli. Discover how non-monetary objectives, like the desire for control, significantly influence our decision-making processes. In this episode, we unpack their groundbreaking findings, revealing that individuals often report confidence levels 18% higher than reality, driven by a need for validation and control. Join us as we explore the psychological underpinnings of economic behavior that go beyond mere financial incentives.