More or Less

Richard Thaler and The Winner’s Curse

In the later part of the 20th century, a pioneering group of economists started shaking up their academic field. These “behavioural economists” used findings from experimental psychology and everyday life to challenge the prevailing view that human beings were rational decision makers – acting in predictable ways to maximize their wealth. One of those pioneers was Richard Thaler, who noted down some of these “anomalies” in a column in the 1980s, which was turned into a book - The Winner’s Curse - first published in 1992. His work also won him the Nobel memorial prize in economics in 2017. More than 30 years on, he has returned to that book, publishing a new, updated version with co-author Alex Imas, which looks at whether those anomalies in rational thinking have stood the test of time. Tim asks him to set out two of his most famous ideas – the winner’s curse itself, and the idea of “mental accounting”. Presenter: Tim Harford Series producer: Tom Colls Sound mix: Donald MacDonald Editor: Richard Vadon

Is there a stock market crash coming?

For months, the share prices of tech companies have marched seemingly-ever upward, driven by fevered excitement about the potential of Artificial Intelligence. But many are now voicing fears that this surge might turn out to be a bubble, which could burst with damaging effects. So do we have to rely on vibes? Or can we use data to tell us about the risk that AI might go pop? Nathan Gower discovers what the numbers tell us about the health of the stock market. Guests: Katie Martin, markets columnist at the Financial Times Simon French, Chief Economist and Head of Research at investment company Panmure Liberum Presenter and Producer: Nathan Gower Series Producer: Tom Colls Editor: Richard Vadon Sound Engineer: Andy Mills

Has there been a $50 trillion wealth transfer to the richest Americans?

Bernie Sanders says a vast amount of wealth - $50 trillion - has moved from 90% of the population to the wealthiest Americans since the 1970s. The figure comes from a study by Carter Price, a senior mathematician at nonprofit research institute the RAND Corporation. Tim Harford speaks to Carter to understand how he calculated his figures and what they really mean. If you’ve seen a number in the news you think we should take a look at, email moreorless@bbc.co.uk Presenter: Tim Harford Producer: Nicolas Barrett Series producer: Tom Colls Sound mix: Giles Aspen Editor: Richard Vadon

Is RFK Jr right about China's diabetes rate?

The US Health Secretary Robert F. Kennedy Jr is on a mission to make America healthy again. One of his health-promotion ideas is to reduce chronic illness, specifically diabetes. And has part of his campaign he said that: "a typical pediatrician would see one case of diabetes in his lifetime, over a 40 or 50 year career. Today, 1 out of every 3 kids who walks through his office door is prediabetic or diabetic. Twenty years ago, there was no diabetes in China, today 50% of the population is diabetic' Diabetes does carry a huge burden of health, but are his numbers right and how much of a problem is diabetes in the US and around the globe? We speak to diabetes expert and co-author of the Diabetes Atlas, Professor Dianna Magliano to find out more. Presenter: Tim Harford Producer: Lizzy McNeill Series Producer: Tom Colls Studio Manager: Rod Farquhar Editor: Richard Vadon

Halloween special: How many people did the real Dracula impale?

Vlad III Dracula, the Wallachian Prince who became Bram Stokers inspiration behind his famous vampire 'Count Dracula,' was a brutal ruler. So brutal that history dubbed him 'Vlad the Impaler' due to his penchant for that particularly gruesome form of execution. Which, without going into too much detail, involved driving a large stake or pole through someone's body - often vertically. Chroniclers and historians claim that he impaled over 20,000 people during his reigns which, if true is a very, very big number. But is it true? We speak to Historian Dénes Harai whose paper: 'Counting the Stakes: A Reassessment of Vlad III Dracula’s Practice of Collective Impalements in Fifteenth-Century South-eastern Europe' attempts to set the record straight. Let's travel back to 1431 to separate the math's from the myth. Presenter/Producer: Lizzy McNeill Series Producer: Tom Colls Sound Mix: Neil Churchill Editor: Richard Vadon