Behavioural Economics and watch collecting

Richard Thaler, Daniel Kahneman and Amos Tversky are the pioneers of the field called “behavioural economics”, two of them even won Nobel prizes for their work and the third would have too, if he was alive to receive it. The trio uncovered numerous ways in which people make poor decisions without knowing it. Here’s a short podcast where Thaler tells a number of stories that bring behavioural economics to life. I wanted to talk about some of their findings (again) and apply it to watch collecting in some way.