In this video, the cognitive scientist Laurie Santos (Yale University) explains the phenomenon of anchoring. She shows how arbitrary information can sometimes act as an anchor that affects our judgments in unexpected ways.

Laurie Santos (Yale University) examines how people’s economic choices tend to confuse price and value. She then describes how these so-called pricing biases compel us to incorrectly assume that higher priced goods will often work and taste better.

Laurie Santos, a psychologist at Yale University, explains two of our classic economic biases: reference dependence and loss aversion. Using a classic scenario from Kahneman and Tversky’s studies, she explores how these two biases violate economic rationality and how they affect the choices we make every day.

The psychologist Laurie Santos (Yale University) explains the phenomenon of mental accounting: why we don’t always assume that money is fungible. She explores why we set up different accounts for different purchases and how we can use our mental accounting biases to be happier about our financial decisions.

In this video, Laurie Santos (Yale University) explains why our memories of good and bad events are a biased. Specifically, she explains how our retrospective evaluations fall prey to the peak-end effect— a bias in which we overweight the peak and end of our everyday experiences— and how this bias leads us to ignore other features of the event like its duration.

In this video, Laurie Santos (Yale University) discusses why knowing about our cognitive biases is not enough to overcome them. She’ll introduce a new cognitive error known as the G.I. Joe Fallacy, the tendency for our biases to stick around even when we should know better.