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Not by a Long Shot: With Guests Katia Jordan & Craig Fox
Humans can easily distinguish between a zero-chance event (e.g., the Washington Nationals winning the World Series in 2022) and a sure thing (e.g., the sun coming up tomorrow). But in between those two clear outcomes, it turns out that we’r
Fail Better: With Guests Joseph Herscher & Lauren Eskreis-Winkler
You hear it a lot in contemporary education, the tech world, and the arts: that it's important to fail, to make mistakes so that you can learn from them and get better at whatever you do. But that generally accepted wisdom is incomplete. In
Under Pressure: With Guests Svetlana Savranskaya, Gary Slaughter & Modupe Akinola
If you've ever been faced with an important decision when time was scarce, information was incomplete, or tempers were running high, you'll know that it's difficult to make a good choice. Now imagine a decision that has implications for the
Out of Proportion: With Guests Damon Lesmeister & Kelly Shue
Many of the decisions we make require us to compare numbers. Which car is most fuel efficient? How is a stock performing relative to the market? How risky is one medication versus another? A problem arises when we fail to make these compari
Choiceology's Guide to Nudges
Nudges are all around you. They might help you choose your meal at a restaurant, navigate a busy airport terminal, or start saving for the future. But nudges are often subtle, so you might not notice them until they’re pointed out. In this
More Than a Feeling: With Guests Jamie Wall, Mona Krewel & Alex Edmans
While it’s nice to think of ourselves as rational decision-makers, more often than not, emotion plays a role in how we decide. Some people may spend more on a new car when the weather is nice. Others may take bigger risks than normal after
Second-Guessing First Impressions: With Guests Allen Sarven & Richard Nisbett
Don’t shoot the messenger is a metaphorical phrase for blaming the bearer of bad news. It’s easy to be angry with someone who is associated with information you don’t want to hear–say, a doctor delivering an unwelcome diagnosis, or a manage
Less Is More: With Guests Ryan McFarland & Gabrielle Adams
Supply chain issues and income inequality notwithstanding, we live in an age of abundance. Our closets overflow with clothing. Many children have more toys than they could possibly enjoy. Garages are filled with sporting gear. Offices are c
A Clean Slate: With Guests John Beshears, Richard Thaler & Ray Zahab (Rebroadcast)
For many people, the start of a new year is an occasion to re-examine their lives, to set new goals and to give up old habits. Making New Year’s resolutions is something of a social ritual, but we see similar behaviors around other signific
The Power of Negative Thinking: With Guests Annie Duke, Mike Richard & Kelvin Wu
Anticipating and planning for obstacles can sometimes be more powerful than adopting a positive mindset. A positive attitude is important when embarking on any new endeavor. However, as you may have heard in previous episodes of Choiceology
The Good Fight: With Guests Adam Grant & Tom Crouch
Most of us would prefer to avoid an argument at work or at home. But there are times when arguments—at least when they’re civil—can help surface important information for decision-making. In this episode of Choiceology withKaty Milkman (htt
Expect the Unexpected: With Guests Abigail Sussman, Howie Jeon & Greg Golden
Perhaps this scenario seems familiar. Let’s say you generally do a good job of sticking to your monthly budget, but a rare opportunity arises—maybe a favorite musical artist is in town, or you’ve been invited to a friend’s 25th anniversary
What’s the Big Idea? With Guests Robert Rydell & Don Moore
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
Not Just Another Statistic: With Guests Carol Quirke & Deborah Small
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 th
Big Goals, Little Steps: With Guests Shannon Miller & Hal Hershfield
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, athl
Scientist Mode: With Guests Adam Grant & Luca Parmitano
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 pictu
Judge the Judges: With Guests Daniel Kahneman, James Hutchinson & G.M. Pucilowski
Many episodes of this podcast deal with cognitive biases that can hinder our decision-making abilities. In this episode of Choiceology with Katy Milkman (http://www.katherinemilkman.com/), we look at a different kind of error: how completel
Silver Linings: With Guests Annie Duke, Kassia St. Clair & Adam Grant
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
Hold That Thought: With Guests Sarah-Louise Miller, Warren Reed, Todd Rogers & Angela Duckworth
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
In the Face of Risk: With Guests Jeff Elison & Ido Erev
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
Mindful of Mindsets: With Guests Erik Vance & Alia Crum
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 th
Some Assembly Preferred: With Guests Mike Norton & Michael Ojo
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 rewardin
If Only …: With Guests Stirling Hart & Colin Camerer
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 e
I Don’t Want to Know: With Guests Amelia Boone & Emily Ho
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
A Successful Failure: With Guests Cass Sunstein, Kirabo Jackson & Andrew Chaikin
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 m
Fair Is Fair: With Guests John Thorn & Richard Thaler
“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
Spoiled for Choice: With Guests Barry Schwartz & Jen Glantz
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
Bidder Beware: With Guests Max Bazerman & Glenye Cain Oakford
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 Milkma
A Choice Apart: With Guests Max Bazerman & Vivienne Wagner
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 decis
So Close to the Prize: With Guests Oleg Urminsky & Brian Zinn
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
