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

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

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.

Negative Prices and Assets

  • 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.

Risk-Taking and Decision-Making

  • 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.

The BRAVE Acronym for Decision-Making

  • The speaker proposes the acronym BRAVE to guide decision-making:
    • Books: Reading and learning from books and mentors.
    • Resilience: Expecting and learning from failures and setbacks.
    • Action: Taking action and making decisions.
    • Vision: Having a clear vision and purpose.
    • Execution: Implementing decisions effectively.

Entrepreneurial Qualities

  • 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's Message to Young People

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

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