Dan Ariely of Predictably Irrational: Financial intermediation technology will change our economy

Behavioral economist, MIT Media Lab contributor and best-selling author Dan Ariely says that web technologies like remote cameras can enable individuals to bypass traditional financial systems and engage directly in transactions like mortgages and business loans. Assuming we can created a mechanism to establish trust and legal guarantees he sees the potential for the rapid emergence of a new type of economy.

In this video interview, best-selling author Dan Ariely explains how web technologies like remote cameras can facilitate direct transactions between individuals. For more on this idea from Ariely, visit http://www.ideasproject.com.

Dan Ariely's research has shown that we all succumb to irrationality in situations where rational thought is expected. Ariely is the author of the best-selling book, Predictably Irrational: The Hidden Forces That Shape Our Decisions, (HarperCollins). Ariely received a Ph.D. in business from Duke University, a Ph.D. and M.A. in cognitive psychology from the University of North Carolina at Chapel Hill, and a B.A. in psychology from Tel Aviv University. His work has been featured in a variety of media including The New York Times, Wall Street Journal, The Washington Post, The Boston Globe, Business 2.0, Scientific American, Science, CNN, and he is a regular commentator at NPR's Marketplace.

Ideas Project, a project of Nokia, brings together the most visionary and influential big thinkers to contemplate the big ideas that matter most to the future of communications. It is also a new kind of conversation platform aimed at uncovering the connections between these big thinkers and their disruptive ideas.

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