The Economics of Deception

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For too long, we have believed that markets are generally benign institutions, geared to deliver us material well-being.

In fact, manipulation and deception are integral to how markets function, and, as long as there is profit to be made, sellers will systematically exploit our psychological weaknesses and ignorance.

What can help arm us against these tricks and traps? Greater knowledge, reform, regulation?

Robert Shiller, Nobel Prize winning economist, visits the RSA to explain what needs to be done so that markets help rather than harm us.