Rational and Irrational decision making

From economics to dreams: Anne McElvoy and guests consider the value of irrationality. How often is emotion, instinct and unsound thinking behind the decisions taken by governments, financial markets and citizens? And does it matter if long term strategic thinking relying on calm assessments of the trade offs, conventional wisdom and the lessons of experience take a back seat. Is there a value in irrationality? Guests include: Bronwen Maddox, Director and CEO of Chatham House, the international think tank; Lionel Barber, author of Gambling Man: The Wild Ride of Japan's Masayoshi Son; Salma Shah, who sits on the boards of Policy Exchange and the Centre for Science and Policy at the University of Cambridge; Patrick Foulis, the foreign editor at the Economist and, Jonathan Egid, philosopher and BBC/AHRC New Generation Thinker. Producer: Ruth Watts