Behavioral Economics: The Next Generation

The video explores how subcultures within organizations can lead to conflicts due to differing values. It uses high schools as an example to show how esteem influences value choices, leading to conformity or differentiation. The impact of peer effects on academic performance is analyzed, highlighting both positive and negative outcomes. The role of Catholic schools in reducing dropout rates and the challenges faced by inner city schools are discussed. The video also examines tension in merchant marines due to value conflicts and concludes with insights into behavioral economics, emphasizing the importance of social interaction in shaping values and decisions.

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