Robert Shiller, 2013 Nobel Prize in Economics, from Yale University talked on
"The influence of narrative on financial decision making"
"Narrative psychology, as for example in the work of New York University psychologist Jerome Bruner, suggests that stories, particularly human-interest stories, are fundamental drivers of motivation. Changes in the collective memory, as theorized by Sorbonne sociologist Maurice Halbwachs, tags along with popular stories and alters the availability of facts and contribute to a changing world view. There is a tendency for people to shift their attention, after a big price change in asset markets, the stock market or real estate markets, towards stories that are brought back into memory by the changes. Today’s economic weakness around much of the world is related to a change in stories."
For more information about his research, see:
- his homepage
- his portrait published in Challenge
- hisTwitter account
- The latest book he wrote: "Phishing for Phools:The Economics of Manipulation and Deception"