The Overdue Marriage of Goals-Based Advice and Behavioral Economics
The simple but often overlooked question in goals-based planning is how do planners come to know the absolute and relative importance of our clients' goals. In the second of his Inside Client Behavior series focusing on applied behavioral economics, Professor Shachar Kariv will identify ways to evolve goals-based planning by introducing scientific methods of client understanding. Kariv will cover relevant concepts from multiple Nobel prize winning economists, explaining how behavioral economics can elegantly address the core question of what is important to clients.
- Identify how clients make trade-offs across their goals
- Understand the relevant concepts from the work of Nobel prize winners Paul Samuelson, Angus Deaton, Daniel Kahneman and Vernon Smith
- Integrate scientifically proven behavioral economics practices into their goal-based planning methods
Dr. Shachar Kariv
Chief Scientist and Co-Founder, Capital Preferences
Shachar Kariv is co-founder and chief scientist at Capital Preferences LTD, parent company to the TrueProfile™ subsidiary. Kariv is also a Benjamin N. Ward Professor of Economics and the recent chair of the economics department at the University of California, Berkeley, which is recognized as one of the world’s most impactful and influential economics institutions. He is widely regarded as a top decision theorist and game theorist in the world.