L'approccio economico di fronte all'incertezza | Gino Gandolfi | TEDxUNIPR

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Decision-Making in Economics

Economics is a social science, not an exact science, making decision-making complex and uncertain.
The speaker illustrates this with an anecdote involving a mathematician, a statistician, and an economist.
In economics, the most accurate answer is often "it depends" due to the complexity and unpredictability of economic phenomena.

The speaker discusses the concept of negative interest rates and questions whether a tangible asset can be traded at a negative price.
Buying or selling an asset at a negative price means the owner is paying to get rid of it, as in the case of a property that needs expensive remediation.
The speaker raises the possibility of oil, a tangible asset, being traded at a negative price, leaving the audience to consider the implications.

The speaker reflects on a challenging decision-making situation involving negative oil prices in April 2020.
He emphasizes the importance of taking risks and making decisions rather than remaining inert.
Drawing inspiration from Ulysses's journey, he stresses the significance of pursuing knowledge and understanding.
The speaker discusses the psychological impact of regret and remorse in decision-making, citing Daniel Kahneman's research on behavioral finance.

Ambition involves setting challenging and important goals for oneself.
Willpower is the driving force behind ambition.
Vision is essential for entrepreneurs and involves thinking long-term and seeing opportunities beyond the obvious.
Lateral thinking is important and involves finding creative solutions to problems.
Enthusiasm and passion are crucial for success and drive individuals to achieve their goals.

Pope Francis encourages young people to have courage, rise up, and not be afraid of their dreams.