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Choiceology with Katy Milkman

Culture

Can we learn to make smarter choices? Listen in as host Katy Milkman--behavioral scientist, Wharton professor, and author of How to Change--shares stories of high-stakes decisions and what research reveals they can teach us. Choiceology, an original podcast from Charles Schwab, explores the lessons of behavioral economics to help you improve your judgment and change for good. Season 1 of Choiceology was hosted by Dan Heath, bestselling author of Made to Stick and Switch. Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options. (0321-1S88)

Can we learn to make smarter choices? Listen in as host Katy Milkman--behavioral scientist, Wharton professor, and author of How to Change--shares stories of high-stakes decisions and what research reveals they can teach us. Choiceology, an original podcast from Charles Schwab, explores the lessons of behavioral economics to help you improve your judgment and change for good. Season 1 of Choiceology was hosted by Dan Heath, bestselling author of Made to Stick and Switch. Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options. (0321-1S88)

Location:

Austin, TX

Description:

Can we learn to make smarter choices? Listen in as host Katy Milkman--behavioral scientist, Wharton professor, and author of How to Change--shares stories of high-stakes decisions and what research reveals they can teach us. Choiceology, an original podcast from Charles Schwab, explores the lessons of behavioral economics to help you improve your judgment and change for good. Season 1 of Choiceology was hosted by Dan Heath, bestselling author of Made to Stick and Switch. Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options. (0321-1S88)

Language:

English

Contact:

(512) 684-3533


Episodes

What’s the Big Idea? With Guests Robert Rydell and Don Moore

9/13/2021
When young children imagine their future lives, they’re often very optimistic. They’ll say things like “I’m going to be an astronaut!” or “When I grow up, I want to be a movie star!” These outcomes are, of course, quite rare. Most children will grow into slightly less exotic careers as adults. But even as adults, we tend toward personal optimism. We assume that we will outlive the average person, that we will remain in better health than the average person, and that our children will be...

Duration:00:36:25

Not Just Another Statistic: With Guests Carol Quirke and Deborah Small

8/30/2021
You may notice that charity campaigns tend to focus on the stories of one or two individuals or families, and that those stories are often rich with emotional content but light on information and statistics. There’s a reason for that. In this episode of Choiceology with Katy Milkman, we look at the different ways we tend to be captivated and motivated by individuals and their stories, while on the other hand, we often become numb or disengaged when presented with large numbers or...

Duration:00:33:18

Big Goals, Little Steps: With Guests Shannon Miller and Hal Hershfield

8/16/2021
Most people wouldn’t attempt a marathon or a climb up Mount Everest without first working through some less audacious objectives. And yet there are countless examples of ambitious goals—new businesses, academic degrees, career changes, athletic feats—that were abandoned because they appeared too daunting in scope. In this episode of Choiceology with Katy Milkman, we look at a simple strategy that can make your biggest goals more manageable. Shannon Miller is one of the most decorated...

Duration:00:36:34

Scientist Mode: With Guests Adam Grant & Luca Parmitano

6/7/2021
Important decisions can be complex and difficult to make. We’re at the mercy of certain behavioral biases, and we often face a degree of uncertainty. And while it’s helpful to be aware of our shortcomings and mindful of our incomplete picture of the world, there is a proven way to make better decisions, on balance. In this episode of Choiceology with Katy Milkman, we look at how questioning our basic assumptions and thinking like a scientist can help us untangle the knottiest of problems...

Duration:00:34:00

Judge the Judges: With Guests Daniel Kahneman, James Hutchinson & G.M. Pucilowski

5/24/2021
Many episodes of this podcast deal with cognitive biases that can hinder our decision-making abilities. In this episode of Choiceology with Katy Milkman, we look at a different kind of error: how completely irrelevant information can negatively influence our judgments, making them varied and unpredictable. This variability of human judgment—or noise—is the topic of a new book by Nobel Prize-winning economist Daniel Kahneman, with Cass Sunstein and Olivier Sibony. You’ll hear an interview...

Duration:00:32:59

Silver Linings: With Guests Annie Duke, Kassia St. Clair, and Adam Grant

5/10/2021
If you’ve ever lost a job, or been through a breakup, or failed an exam, you’ll know that the aftermath can be painful and disorienting. But for some percentage of those who experience these disappointing outcomes, unforeseen opportunities will arise. In this episode of Choiceology with Katy Milkman, we look at the occasional upside of being forced to quit a career, or a relationship, or even a favorite route to work. Kassia St. Clair brings us the story of William Henry Perkin. As a young...

Duration:00:38:50

Hold That Thought: With Guests Sarah-Louise Miller, Warren Reed, Todd Rogers, and Angela Duckworth

4/26/2021
You probably have a list of reminders somewhere. Maybe you have a calendar with important dates marked. And likely a mental to-do list. And shopping lists. And gift ideas. And you’ve got to remember to get your taxes filed. And don’t forget to get those prescriptions filled before the drug store closes. And you’ve got to renew your insurance, and … There’s a lot of information to juggle in modern life. In this episode of Choiceology with Katy Milkman, we look at ways to improve reminders...

Duration:00:37:42

In the Face of Risk: With Guests Jeff Elison and Ido Erev

4/12/2021
For many, the onset of the coronavirus pandemic was terrifying. Descriptions of the outbreak in Europe and Asia led to panic buying and sheltering in place here at home. But, as time passed and people became acclimatized to life with masks and social distancing, many of those same people who were terrified at the outset began to let their guard down and take unnecessary risks. In this episode of Choiceology with Katy Milkman, we look at a peculiar inconsistency around how we perceive risk...

Duration:00:36:21

Mindful of Mindsets: With Guests Erik Vance and Alia Crum

3/29/2021
Have you ever visited your doctor to deal with a minor health issue and then left the office with nothing more than the doctor’s calming reassurance? Chances are good that you felt a bit better, physically, just by virtue of experiencing the environment of the clinic and anticipating some kind of improvement in your health. In this episode of Choiceology with Katy Milkman, we explore how your beliefs and expectations can have a very real impact on your health and well-being. Science...

Duration:00:35:22

Some Assembly Preferred: With Guests Mike Norton & Michael Ojo

3/15/2021
Hardware stores and home improvement shows often promote do-it-yourself projects. And while it’s challenging to make your own projects look as good as the ones on TV or in glossy brochures, building something yourself can be a very rewarding experience. The trouble is, the DIY approach can sometimes cloud your perceptions of the value of your project. In this episode of Choiceology with Katy Milkman, we look at how putting personal effort into something—be it a hand-knit scarf, a new deck,...

Duration:00:36:14

If Only …: With Guests Stirling Hart & Colin Camerer

10/12/2020
In a past episode titled “Spoiled for Choice,” we looked at how decision-making can be hampered by our desire to avoid the painful emotion of regret. In fact, regret aversion can cause people to abandon certain decisions entirely. In this episode of Choiceology with Katy Milkman, we look more closely at regret itself. Stirling Hart is a professional lumberjack. He’s also a world-class lumberjack sports athlete. He has travelled the world competing against the best of the best in events...

Duration:00:31:18

I Don’t Want to Know: With Guests Amelia Boone & Emily Ho

9/28/2020
For some people, the check engine light on their car dashboard means an immediate trip to the repair shop. But for others, it represents a nagging unpleasant feeling that’s best to be avoided. So they put it out of their mind for as long as they can. In this episode of Choiceology with Katy Milkman, we examine the tendency to avoid or ignore certain information when it may be uncomfortable or inconvenient. Amelia Boone is a high achiever. Within a short time of taking up the grueling sport...

Duration:00:35:01

A Successful Failure: With Guests Cass Sunstein, Kirabo Jackson & Andrew Chaikin

9/14/2020
You’ve probably had the annoying experience of going to a store to pick up a few things, only to leave having forgotten at least one of them. That’s likely due to the challenge of holding more than one piece of information in your working memory while you shop, not to mention the effects of time pressure, distraction, and the procedural complexity of a seemingly simple trip to a store. In this episode of Choiceology with Katy Milkman, we look at effective tools for managing complex and...

Duration:00:40:37

Fair Is Fair: With Guests John Thorn & Richard Thaler

8/31/2020
“Mom! Janey got more ice cream than me! Not fair!” For kids—and many adults—the notion of what’s fair or not often involves comparing quantities of some valuable thing. But there’s another, more nuanced concept of fairness that crops up in certain types of negotiations. In this episode of Choiceology with Katy Milkman, we look at what people perceive as fair or not amid changing circumstances. At the turn of the 20th century, professional baseball had entered what came to be known as the...

Duration:00:33:35

Spoiled for Choice: With Guests Barry Schwartz & Jen Glantz

8/17/2020
Traditional economic theory says that more choice should always be better than less. After all, if the cereal aisle has corn flakes, honey nut corn flakes, toasted coconut corn flakes, chocolate corn flakes, multi-grain flakes, and all the rest, you’ll surely be able to find the breakfast carbs that suit your taste buds perfectly. But it turns out that, in certain situations, more choices can be counterproductive. In this episode of Choiceology with Katy Milkman, we look at how having too...

Duration:00:33:22

A Bundle of Nerves: With Guests Alison Wood Brooks & Steven Osborne

8/3/2020
The rapid heartbeat. The shaking hands. The flushed face. The symptoms of pre-performance jitters are common. For some people, nervousness before a big test or important presentation is normal and temporary. For others, it can be debilitating. Typical suggestions for managing nerves tend to involve deep breaths and calming thoughts. But what if there were a better way? In this episode of Choiceology with Katy Milkman, we look at the science behind the state of arousal commonly referred to...

Duration:00:34:49

A Spoonful of Sugar: With Guests Ayelet Fishbach, Dan Ariely, Lynne Gauthier & Nancy Strahl

5/25/2020
“In every job that must be done, there is an element of fun. You find the fun, and snap, the job’s a game!” So says Julie Andrews’ character in the Disney film Mary Poppins before she launches into the famous musical number “A Spoonful of Sugar.” In this episode of Choiceology with Katy Milkman, we look at the science behind the intuitive strategy of making difficult or boring things easier by adding that “element of fun.” But while Mary Poppins was focused on making the tedious task of...

Duration:00:43:10

Bidder Beware: With Guests Max Bazerman & Glenye Cain Oakford

5/11/2020
Have you ever bid in a competitive auction—say, on eBay—and won the item, only to see a similar item for sale elsewhere at a lower price? If so, you may have fallen prey to the winner’s curse. In this episode of Choiceology with Katy Milkman, we look at bias that can lead people to overpay in auctions and other types of negotiations. We begin with the story of Havre de Grace. This prize filly had an exceptionally successful career as a racehorse before being auctioned as a broodmare....

Duration:00:34:10

A Choice Apart: With Guests Max Bazerman & Vivienne Wagner

4/27/2020
Have you ever purchased a car or a motorcycle or a boat, based on some particular quality it had that made you fall in love? Maybe it was candy apple red. Maybe it had sleek lines. Maybe the engine made a pleasing purr. Hopefully that decision was a happy one. But what happens when the red sports car spends most of its time in the shop? Or the sleek motorbike is hard on your back? Or the purring boat engine is a gas-guzzler? In this episode of Choiceology with Katy Milkman, we look at how...

Duration:00:28:03

So Close to the Prize: With Guests Oleg Urminsky & Brian Zinn

4/13/2020
If you’ve ever signed up for a frequent flyer program, chances are good that you were awarded a certain number of bonus points to start. Those bonus points feel like a nice little gift, but they also serve another purpose: to increase your motivation to participate in the program. In this episode of Choiceology with Katy Milkman, we explore how your proximity to a goal can affect the way you behave. You’ll hear the fascinating story of Brian Zinn and his decade-spanning quest to unravel an...

Duration:00:36:31