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A monkey economy as irrational as ours

submitted by bleedmegood

1 decade 4 years 3 months 3 weeks ago

Laurie Santos looks for the roots of human irrationality by watching the way our primate relatives make decisions. A clever series of experiments in "monkeynomics" shows that some of the silly choices we make, monkeys make too.

Laurie Santos studies primate psychology and monkeynomics -- testing problems in human psychology on primates, who (not so surprisingly) have many of the same predictable irrationalities we do.

5 Comments

So you mean to say, that if an agency creates an arbitrary money system that primates will flock to spend the arbitrary money?

Reminds me of somethings.

Tags for this video have been changed from 'monkey economy, irrational, laurie santos, monkeynomics, currency' to 'TED, monkey economy, irrational, laurie santos, monkeynomics, currency' - edited by my15minutes

@NordlichReiter, "arbitrary money" is redundant. All money is arbitrary.

>> ^NetRunner:< br />
@<a rel="nofollow" href="http://videosift.com/member/NordlichReiter" title="member since December 14th, 2006" class="profilelink">NordlichReiter, "arbitrary money" is redundant. All money is arbitrary.

Then why have money in the first place?

@NordlichReiter well, it seems like a pretty useful concept that improves on bartering, doesn't it?

The value of a unit of any currency is always going to be relative to whatever someone wants to buy. That's true whether your currency is also arbitrarily fixed relative to a specific commodity (e.g. gold), or not.

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