Behavioural Biases [Head Start in A-Level Economics]

In this second lesson for Year 11 students, we introduce some of the behavioural biases that can influence and shape the choices we make.

Video 1: Psychological Biases Introduced

In this introductory video we think about how psychological biases can affect human decision making.

Video 2: Default bias, loss aversion, anchoring and framing

In this video we look at examples of psychological biases such as the default bias, anchoring and framing effects and also loss aversion.

Video 3: Over confidence, herd behaviour, the Ostrich effect, social proofing and choice overload

Here is a good one minute primer on herd behaviour

Here is a recent example of the Ostrich Effect!