Intro
Working at the crossroads of psychology, economics, and public policy, Sendhil Mullainathan has studied behavioral economics for the past three decades. His work seeks to find ways for governments, institutions, and individuals to turn research into action and make better decisions in times of public social crises. As behavioral scientists and decision professionals know, intention does not always equate to action, and when it comes to world issues like poverty, lapses in decision-making can have detrimental global effects. Named a Young Global Leader by the World Economic Forum and one of 50 people who will change the world by WIRED Magazine, Sendhil Mullainathan teaches us why poor people make poor decisions―not the other way around―and what we as a society can do to help them make better ones that will promote a better future for everyone.
Being poor, for example, reduces a person’s cognitive capacity more than going one full night without sleep. It is not that the poor have less bandwidth as individuals. Rather, it is that the experience of poverty reduces anyone’s bandwidth.
– Sendhil Mullainathan, Scarcity: Why Having Too Little Means So Much
