Our models of human behaviour needs to be rethought.

Human decisions and actions are often divorced from rationality. Hence, by understanding why we fail to reason properly, specifics of our irrational quirks and foibles, we can retrain ourselves to make better decisions.

Between conventional/rational economics and behavioural economics, clearly the human behaviour in markets are unexplainable. This led to a thinking if small decisions are taken one way vs the big decisions in another.

2008 crisis was one of the most depressing times of our history but truly a turning point for behavioural economics. From crisis comes opportunity and this tragedy will allow us to accommodate some new ideas and rebuild better decision making.