Episodes
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In this episode of The Brainy Business podcast, host Melina Palmer welcomes Scott H. Young, the Wall Street Journal bestselling author of Ultralearning and Get Better at Anything. Scott shares his extensive insights into learning, cognitive science, and the psychology behind mastering new skills. Known for his MIT Challenge and year-long language learning adventure, Scott discusses the importance of immersive learning, repetitive practice, and the role of feedback in achieving fluency and proficiency.
Scott delves into the fascinating world of how we learn and improve, emphasizing the significance of learning from others, the challenges of problem-solving, and the necessity of focused practice. He also touches on the concept of "desirable difficulties" and how they enhance long-term retention and skill mastery. This episode is a treasure trove for anyone looking to understand the mechanics of learning and how to apply these principles to get better at anything.
In this episode:
Discover the key components of effective learning: See, Do, and Feedback. Understand the importance of repetitive practice and immersion in mastering new skills. Learn about the concept of "desirable difficulties" and how they improve long-term retention. Explore the role of feedback in learning and how to create environments that foster expertise. Gain insights into the psychological aspects of learning and overcoming common barriers. Show Notes:00:00:00 - Introduction
Melina introduces Scott and highlights his background and work in the field of learning and cognitive science.00:03:30 - Scott's Background and Projects
Scott shares his journey and notable projects, including the MIT Challenge and his year-long language-learning adventure.00:11:20 - The Importance of Immersion
Scott discusses the benefits of immersive learning and how it accelerates fluency and proficiency.00:21:45 - Repetitive Practice and Fluency
The conversation explores the role of repetitive practice in achieving fluency and the difference between fluency and overall proficiency.00:31:10 - Desirable Difficulties
Scott explains the concept of "desirable difficulties" and how they enhance learning and retention.00:41:00 - The Role of Feedback
The discussion highlights the importance of feedback in learning and how to create environments that foster expertise.00:45:00 - Practical Tips for Learning
Scott offers practical advice for applying these learning principles to various skills, including public speaking and business.00:47:00 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Scott:
LinkedIn XLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Good Habits, Bad Habits, by Wendy Wood Indistractable, by Nir Eyal How to Change, by Katy Milkman Get Better at Anything, by Scott H. Young Ultralearning, by Scott H. Young and James ClearTop Recommended Next Episode: How to Set, Achieve and Exceed Brainy Goals (ep 70)
Already Heard That One? Try These:
Habits (ep 256) Status Quo Bias (ep 376) Katy Milkman Interview (ep 151) Tapping into the Power of Habit (ep 368) Wendy Wood Interview (ep 428)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter
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In this episode of The Brainy Business podcast, host Melina Palmer revisits her insightful conversation with Dr. Wendy Wood, author of Good Habits, Bad Habits. This episode dives deep into the psychology behind habits, exploring how they are formed, maintained, and changed. Wendy, a leading expert in behavioral science, shares practical tips and research-backed strategies to help you understand and harness the power of habits in your personal and professional life.
Melina and Wendy discuss the foundational role habits play in our daily routines and decision-making processes. They emphasize the importance of recognizing both good and bad habits and provide actionable advice on how to reinforce the positive ones while mitigating the negative. The episode is packed with real-world examples, including how small changes in environment and behavior can lead to significant improvements in habit formation and maintenance.
In this episode:
Understand the basics of habit formation and the role of context and rewards. Learn strategies to make good habits easier and bad habits harder. Explore practical examples of habit changes, such as altering morning routines and fitness habits. Discover the impact of environmental cues on habitual behavior. Gain insights into how businesses can leverage habit science to improve customer engagement and satisfaction. Show Notes:00:00:00 - Introduction
Melina introduces the episode and highlights the importance of understanding habits in both personal and professional contexts.00:04:12 - The Role of Habits
Wendy explains the foundational role of habits in our daily lives and how they operate on an unconscious level.00:09:30 - Context and Rewards
Discussion on how habits are formed through context and rewards, with examples like morning coffee routines.00:15:20 - Disruption and Opportunity
The impact of the COVID-19 pandemic on habits and how disruptions can create opportunities for new habit formation.00:21:45 - Practical Strategies
Tips for making good habits easier and bad habits harder, including environmental adjustments and rewarding behaviors.00:30:10 - Habit Formation in Business
How businesses can leverage habit science to improve customer engagement and satisfaction, with examples from retail and fitness industries.00:40:00 - Case Studies and Research
Wendy shares intriguing case studies and research findings on habit formation and change.00:50:30 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Wendy:
Wendy Wood at USC Marshall Wendy on TwitterLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Good Habits, Bad Habits, by Wendy Wood Indistractable, by Nir Eyal How to Change, by Katy Milkman Happier Hour, by Cassie Holmes Thinking Fast and Slow, by Daniel KahnemanTop Recommended Next Episode: Michael Norton Interview (ep 383)
Already Heard That One? Try These:
Habits (ep 256) Status Quo Bias (ep 376) Katy Milkman Interview (ep 151) Tapping into the Power of Habit (ep 368) Sludge (ep 384)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter
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Missing episodes?
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In this episode of The Brainy Business podcast, host Melina Palmer welcomes Nobel Prize winner Dr. Bob Lefkowitz for an insightful discussion on mentorship, focus, and the power of saying no. Dr. Lefkowitz, a distinguished professor at Duke University Medical Center, shares his journey from a passionate physician to a Nobel laureate in Chemistry, highlighting the impact of his research.
Dr. Lefkowitz delves into the importance of mentorship, recounting his own experiences and the significance of his mentee, Brian Kobilka, with whom he shared the Nobel Prize. He emphasizes the value of asking good questions, being thoughtful, and the crucial skill of focusing like a laser on what truly matters. This episode is packed with wisdom on how to balance stubborn pursuit with strategic decision-making in both scientific research and business.
In this episode:
Understand the significance of mentorship and how it shapes successful careers. Discover the importance of focus and saying no to distractions. Gain insights into the power of storytelling and synthesizing data. Explore practical advice for fostering creativity and seeing things from different perspectives. Show Notes:00:00:00 - Introduction
Melina introduces Nobel Prize winner Dr. Bob Lefkowitz, highlighting his distinguished career and contributions to science and medicine.00:04:30 - Dr. Lefkowitz's Background
Dr. Lefkowitz shares his journey from aspiring physician to Nobel laureate, detailing his research on G protein-coupled receptors.00:10:15 - The Importance of Focus
Dr. Lefkowitz discusses the critical role of focus in achieving success and how he developed this skill over his career.00:15:45 - Mentorship and Its Impact
The conversation shifts to mentorship, with Dr. Lefkowitz sharing his thoughts on what makes a great mentor and the legacy of training successful scientists.00:25:00 - Storytelling in Science
Dr. Lefkowitz emphasizes the power of storytelling in presenting scientific data and making impactful discoveries.00:30:20 - The Power of Saying No
Dr. Lefkowitz provides practical advice on how to say no to distractions and focus on what truly matters.00:35:50 - Creativity and Humor
The discussion highlights the role of creativity and humor in scientific discovery and problem-solving.00:45:00 - Closing Thoughts
Melina and Dr. Lefkowitz wrap up the conversation, reflecting on the key takeaways and the importance of thoughtful mentorship.00:50:30 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Dr. Lefkowitz:
LinkedIn
Learn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
What Your Employees Need and Can't Tell You, by Melina Palmer The Ultimate Guide to Great Mentorship, by Scott Miller Mentoring, by Dr. Ruth Gotian and Andy Lopata A Funny Thing Happened on the Way to Stockholm, by Robert J. Lefkowitz M.D. The Speed of Trust, by Stephen M.R. CoveyTop Recommended Next Episode: Ruth Gotian Interview (ep 419)
Already Heard That One? Try These:
Vulnerability Loops (ep 229) Unity (ep 216) Scott Miller Interview (ep 69) Confirmation Bias (ep 260) Focusing Illusion (ep 330)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter
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In this episode of The Brainy Business podcast, Melina Palmer explores the concept of defaults, how they impact our decisions, and the critical role they play in business and everyday life. Melina discusses the omnipresence of defaults and how they influence our choices, often without us even realizing it. She explains the concept of status quo bias and how it makes us more likely to stick with default options, even when they may not be in our best interest. Using examples from retirement savings to organ donation, Melina illustrates the power of defaults and the importance of thoughtful choice architecture in both personal and business contexts.
In this episode:
Understand the pervasive influence of defaults in everyday decisions. Learn about status quo bias and its impact on behavior. Explore practical examples of defaults in various contexts, including retirement savings and organ donation. Discover the ethical considerations in setting defaults and choice architecture. Gain insights into how to design better defaults to help customers and employees make beneficial choices. Show Notes:00:00:00 - Introduction,
Melina introduces the episode and the topic of defaults, highlighting its relevance to her upcoming conversation with Nobel laureate Dr. Bob Lefkowitz.03:15 - The Omnipresence of Defaults
Melina discusses how defaults are everywhere and influence nearly every decision we make, often without us realizing it.08:30 - Status Quo Bias
An exploration of status quo bias and how it makes us more likely to stick with default options, even when they may not be in our best interest.15:45 - Retirement Savings Example
Melina uses the example of retirement savings to illustrate the power of defaults and how different default options can significantly impact behavior.22:00 - Organ Donation Study
A discussion on the ethical considerations of defaults using the example of organ donation and how opt-in vs. opt-out policies affect donation rates.29:15 - Practical Business Applications
Melina provides practical advice on how businesses can use defaults to help customers and employees make better choices, emphasizing the importance of ethical considerations.36:00 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
A Funny Thing Happened on the Way to Stockholm, by Robert J. Lefkowitz M.D. What Your Customer Wants and Can't Tell You, by Melina Palmer Nudge, by Richard Thaler & Cass Sunstein Thinking Fast and Slow, by Daniel Kahneman What Your Employees Need and Can't Tell You, by Melina PalmerTop Recommended Next Episode: Status Quo Bias (ep 376)
Already Heard That One? Try These:
Unlocking the Secrets of the Brain (ep 1) Framing (ep 296) Priming (ep 252) NUDGES and Choice Architecture: Introduction (ep 35) Habits (ep 256)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter
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In this episode of The Brainy Business podcast, Melina Palmer and Christopher Frank, Chief Client Officer at PSB Insights, dive into the art of decision-making in a data-driven world. Christopher, who has a rich background with industry giants like American Express and Microsoft, shares his expertise in leveraging consumer insights to gain a competitive edge. As a thought leader in critical thinking and decision science, he offers valuable perspectives on how to ask the right questions and interpret data for smarter business decisions.
Christopher’s insights are not only theoretical but also practical, drawn from his extensive experience and his acclaimed books, Drinking from the Fire Hose and Decisions Over Decimals. He emphasizes the importance of starting with the right questions to truly understand the problem at hand and how to make decisions that are both informed and intuitive. His approach to synthesizing data with judgment offers a fresh perspective on navigating the overwhelming amount of information available today.
In this episode:
Uncover the power of asking the right questions to make better decisions. Learn how to leverage data and intuition to drive business strategy. Discover the importance of context in interpreting data points. Explore the concept of "quantitative intuition" and how it can be developed. Understand the role of culture in fostering an environment that thrives on data-driven decisions. Show Notes:00:00:00 - Introduction
Melina Palmer introduces Christopher Frank and highlights his extensive experience in data analytics and decision science.00:04:12 - Christopher Frank's Background
Christopher shares his journey through American Express, Microsoft, and his current role at PSB Insights, emphasizing his focus on leveraging data for smarter decisions.00:09:35 - The Importance of Asking Questions
Christopher discusses the value of starting with questions to understand the problem and make better decisions, sharing some of his favorite questions to ask.00:16:28 - The Power of "What Surprised You?"
Christopher explains how asking "What surprised you?" can unlock valuable insights and create a safe learning environment.00:22:50 - Case Study: Outliers in Data
Christopher shares a compelling story about how investigating outliers in customer satisfaction data led to significant business insights and strategic decisions.00:30:17 - Moments of Truth in Consumer Behavior
Christopher talks about identifying and understanding the critical moments that matter to consumers and how they can shape business strategies.00:35:42 - Summary vs. Synthesis
Christopher explains the difference between summarizing data and synthesizing it with judgment to make informed decisions.00:40:05 - The Context Triangle
Christopher introduces the concept of the context triangle and how it helps in interpreting data points from multiple perspectives.00:41:05 - Conclusion,
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Christopher:
Christopher on LinkedIn Christopher on XLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded Netzer May Contain Lies, by Alex Edmans A More Beautiful Question, by Warren Berger What Your Customer Wants and Can't Tell You, by Melina Palmer Drinking from the Fire Hose, by Christopher Frank and Paul MagnoneTop Recommended Next Episode: The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126)
Already Heard That One? Try These:
Framing (ep 296) Felicity Heathcote-Marcz Interview (ep 324) Warren Berger Interview (ep 340) Alex Edmans Interview (ep 423) Beatrix Daros Interview (ep 424)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter
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In this episode of The Brainy Business podcast, Melina Palmer explores the power of questions in project scoping with Beatrix Daros. Originally aired in 2022, this episode revisits their collaborative work from 2019, focusing on leveraging behavioral economics to enhance project outcomes. Beatrix emphasizes the importance of balancing technology with deep human connections, a principle she applied while working on Mars' KIND brand. As you listen, consider how clearly Beatrix articulates their value proposition and approach, and think about how this clarity can be applied to your own business practices.
Beatrix shares insights on the global differences in snacking habits and health perceptions, the role of ethnographic studies, and the significant impact of regulatory changes on product placement and marketing strategies. The episode also delves into the innovative use of virtual reality for consumer testing during the pandemic, highlighting how technology can expedite and enhance research processes. This episode is packed with valuable lessons on using behavioral science and technology to drive successful project outcomes.
In this episode:
Discover the impact of asking the right questions to scope projects effectively. Learn about the global differences in snacking habits and health perceptions. Explore the use of virtual reality and technology in consumer research. Understand the importance of balancing technology with deep human connections. Gain insights into navigating regulatory changes and their impact on marketing strategies. Show Notes:00:00:00 - Introduction,
Melina introduces the episode and guest, Beatrix Daros, highlighting their collaborative work on leveraging behavioral science for project scoping.00:06:07 - Beatrix Daros' Background
Beatrix shares her career journey at Mars and her role in consumer intelligence, focusing on the KIND brand.00:10:40 - Global Snacking Habits
Beatrix discusses the differences in snacking habits and health perceptions across various countries, emphasizing the importance of ethnographic studies.00:15:34 - Regulatory Challenges
Beatrix explains the impact of regulatory changes, such as the HFSS regulation in the UK, on product placement and marketing strategies.00:20:21 - Behavioral Science and Questionstorming
Melina and Beatrix discuss the importance of using behavioral science and questionstorming to scope projects effectively and align team members.00:24:15 - Ethnographic Studies
Beatrix elaborates on the role of ethnographic studies in understanding consumer behavior and preferences.00:28:57 - Virtual Reality in Consumer Research
Beatrix shares how Mars leveraged virtual reality for consumer testing during the pandemic, highlighting its efficiency and effectiveness.00:31:48 - Technology and Human Connection
Discussion on balancing the use of technology with maintaining deep human connections in consumer research.00:35:51 - Deep Human Connection
Beatrix elaborates on KIND's focus on deep human connections and how it influences their approach to consumer engagement and product development.00:39:22 - Future of Insights
Beatrix discusses the future of consumer insights, emphasizing the balance between technology and human connection.00:47:30 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Beatrix:
Beatrix on LinkedIn
Learn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
A More Beautiful Question, by Warren Berger Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded Netzer What Your Customer Wants and Can’t Tell You (ep 147) Alchemy, by Rory Sutherland Both/And Thinking, by Wendy Smith and Marianne LewisTop Recommended Next Episode: Warren Berger Interview (ep 340)
Already Heard That One? Try These:
Greta Harper Interview (ep 207) Sarah Wilson Interview (ep 206) Framing (ep 296) Questions or Answers? (ep 4) The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter KIND Website -
In this episode of The Brainy Business podcast, Melina Palmer welcomes Alex Edmans, author of May Contain Lies, to discuss the fascinating intersection of finance, behavioral economics, and misinformation. Alex, a professor of finance at London Business School with a Ph.D. from MIT, delves into the impact of emotions on the stock market, using intriguing examples from his research, including the emotional effects of international sports results on stock market behavior.
Throughout the conversation, Alex and Melina explore the broader implications of emotional influences on decision-making in both personal finance and business contexts. They discuss the dangers of confirmation bias and black-and-white thinking, and Alex offers practical steps to overcome these biases. He also introduces his concept of the "ladder of misinference," illustrating how statements, facts, data, and evidence can be misinterpreted or misrepresented, leading to misleading conclusions.
In this episode:
Understanding the emotional impact of sports results on the stock market. The broader implications of emotional influences on decision-making. The dangers of confirmation bias and black-and-white thinking. Practical steps to overcome biases and make informed decisions. The "ladder of misinference" and avoiding missteps in interpreting data. Show Notes:00:00:00 - Introduction
Melina introduces Alex Edmans, author of May Contain Lies, and outlines the episode's focus on emotions, decision-making, and misinformation.00:01:45 - Alex's Background
Alex shares his background in finance and behavioral economics, emphasizing his passion for conveying academic insights to a general audience.00:06:10 - Dissertation Research
Alex discusses his dissertation on the impact of emotions, particularly sports results, on the stock market, highlighting the significant emotional effects on trading behavior.00:12:55 - Broader Implications
Melina and Alex explore the broader implications of emotional influences on decision-making in personal finance and business, emphasizing the importance of acknowledging and managing emotions.00:19:15 - Confirmation Bias
Alex explains confirmation bias and its impact on how people respond to evidence and data, using examples from sustainable investing and other fields.00:26:30 - Black-and-White Thinking
Alex introduces black-and-white thinking as a twin bias to confirmation bias, illustrating how extreme viewpoints can overshadow nuanced understanding.00:34:45 - Ladder of Misinference
Alex outlines the "ladder of misinference," explaining how statements, facts, data, and evidence can be misinterpreted, leading to misleading conclusions.00:43:10 - Practical Tips for Individuals
Alex offers practical tips for individuals to overcome biases, including imagining the opposite result to challenge confirmation bias.00:46:00 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Alex:
Alex on X Alex on LinkedIn Alex’s WebsiteLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Foolproof, by Sander van der Linden May Contain Lies, by Alex Edmans How Minds Change, by David McRaney Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded Netzer What Your Employees Need and Can't Tell You, by Melina PalmerTop Recommended Next Episode: Confirmation Bias (ep 260)
Already Heard That One? Try These:
Sander van der Linden Interview (ep 337) Focusing Illusion (ep 330) Survivorship Bias (ep 400) Christian Madsbjerg Interview (ep 325) David McRaney Interview (ep 210)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter TED: What to Trust in a “Post Truth” World TEDx: The Pie Growing Mindset -
In this episode of The Brainy Business podcast, Melina Palmer explores the fascinating world of lazy brain biases. This episode is part of an eight-part series exploring various biases, focusing on how our brains prefer to take the path of least resistance. This rapid-fire episode provides a brief overview of each bias, helping you understand their roles, interactions, and impacts on decision-making.
Melina refreshes this episode in anticipation of her upcoming interview with Alex Edmonds about his book May Contain Lies, which discusses misinformation and the importance of understanding information responsibly. Lazy brain biases play a significant role in how we process and accept information, making this episode a perfect primer for the conversation with Alex.
In this episode:
Discover how the default effect influences our choices. Learn about the decoy effect and its impact on decision-making. Understand the automation bias and its implications in a tech-driven world. Explore the law of the instrument and functional fixedness. Gain insights into framing, anchoring, and the contrast effect. Examine biases and their influence on decision-making. Identify how surrogation and Parkinson's Law of Triviality affect business decisions. Learn strategies to push your brain’s limits and overcome lazy tendencies. Show Notes:00:00:00 - Introduction
Melina introduces the episode and its focus on lazy brain biases, part of an eight-part series on biases.00:02:30 - Default Effect
Melina discusses the default effect, where people tend to choose the default option presented to them.00:04:00 - Decoy Effect
The decoy effect is explained with examples from espresso machines and The Economist subscription options.00:06:00 - Automation Bias
Melina talks about our excessive dependence on automated systems and the importance of checking their effectiveness.00:07:30 - Law of the Instrument and Functional Fixedness
These biases are discussed with examples like the Apollo 13 mission.00:09:00 - Framing and Anchoring
Melina explains how framing and anchoring influence our decisions, with links to related episodes.00:10:30 - Contrast Effect
The impact of priming and previously presented information on decision-making is discussed.00:12:00 - Biases
Melina explains how our senses influence our external decisions, using judges' sentencing patterns as an example.00:13:30 - Ambiguity Effect and Action Bias
These biases are explored with examples from medical decisions and soccer goalies.00:15:00 - Stereotyping and Illicit Transference
Melina discusses how our brains make assumptions about groups and individuals.00:16:30 - Surrogation
The concept of surrogation is explained with an example of customer satisfaction surveys.00:18:00 - Parkinson's Law of Triviality
Also known as bikeshedding, this bias is discussed with examples from pricing strategies.00:19:30 - Lag Effect and Levels of Processing
Melina talks about effective learning strategies and how to trick your lazy brain into focusing.00:21:00 - List Length Effect
The impact of list length on memory is discussed, encouraging listeners to push their brain's limits.00:22:30 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
May Contain Lies, by Alex Edmans Thinking Fast and Slow, by Daniel Kahneman Nudge, by Richard Thaler & Cass Sunstein What Your Customer Wants and Can't Tell You, by Melina Palmer Evolutionary Ideas, by Sam TatamTop Recommended Next Episode: Functional Fixedness (ep 194)
Already Heard That One? Try These:
Anchoring & Adjustment (ep 394) Bikeshedding (ep 99) Priming (ep 252) Color Theory (ep 61) 5 Things Your Business Must Learn From NASA (ep 57)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter The Greatest Space Hack Ever This Is the Actual Hack That Saved the Astronauts of the Apollo XIII Apollo Expeditions to the Moon – A Square Peg in a Round Hole Action Bias Among Elite Soccer Goalkeepers: the Case of Penalty Kicks Action Bias and Environmental Decisions The Inaction Effect in the Psychology of Regret -
In this episode of The Brainy Business podcast, Melina Palmer is joined by Beatriz Vallejo, CEO of Ethos BT, to discuss the impactful work of reducing misinformation and polarization in Colombia using behavioral science. Beatriz, a behavioral scientist and economist, shares her journey from studying economics in Colombia to completing a master's in behavioral change at UCL, focusing on the factors that lead to the belief and spread of fake news. The conversation visits her extensive research on misinformation, the psychological factors influencing it, and the innovative Detox Information Project aimed at mitigating these issues.
Beatriz highlights the importance of understanding psychological factors like dehumanization, distrust, discrimination, and low tolerance to ambiguity, which contribute to the spread of misinformation. The episode also explores the success of various interventions, including personality tests and social experiment videos, which have proven to reduce misinformation vulnerability by 30%. This episode is a treasure trove of insights for anyone interested in behavioral science, misinformation, and societal improvement, showcasing the significant impact of behavioral interventions in real-world settings.
In this episode:
Discover the psychological factors contributing to misinformation and polarization in Colombia. Learn about the Detox Information Project and its innovative approach to reducing fake news. Understand the importance of research and data in designing effective behavioral interventions. Gain insights into the challenges and successes of applying behavioral science in diverse contexts. Get inspired by Beatriz Vallejo's journey and her impactful work in behavioral science. Show Notes:00:00:00 - Introduction
Melina introduces Beatriz Vallejo, CEO of Ethos BT, and highlights her work in behavioral science and misinformation.00:05:20 - Beatriz's Background
Beatriz shares her academic journey from studying economics in Colombia to completing a master's in behavioral change at UCL.00:10:45 - Initial Research on Fake News
Beatriz discusses her master's thesis on the psychological factors related to believing and sharing fake news in Colombia.00:15:30 - The Detox Information Project
Beatriz introduces the Detox Information Project, aimed at reducing misinformation through behavioral science interventions.00:20:15 - Key Psychological Factors
Beatriz explains the four psychological factors—dehumanization, distrust, discrimination, and low tolerance to ambiguity—that contribute to misinformation vulnerability.00:25:50 - Effective Interventions
Beatriz discusses the success of personality tests and social experiment videos in reducing misinformation vulnerability by 30%.00:30:35 - Challenges in Behavioral Science
Beatriz shares the challenges of convincing stakeholders to invest in research and the importance of understanding the problem before designing solutions.00:35:50 - Tips for Aspiring Behavioral Scientists
Beatriz offers advice for those looking to make an impact in behavioral science, emphasizing the importance of networking and continuous learning.00:40:25 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Beatriz:
Beatriz on LinkedIn Detox Information Project Beatriz on XLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Foolproof, by Sander van der Linden May Contain Lies, by Alex Edmans The Voltage Effect, by John List Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded Netzer What Your Employees Need and Can't Tell You, by Melina PalmerTop Recommended Next Episode: Carlos Hoyos Interview (ep 285)
Already Heard That One? Try These:
Sander van der Linden Interview (ep 337) BE OEFA Interview (ep 195) Ambiguity / Uncertainty Aversion (ep 243) Confirmation Bias (ep 260) The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter
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In episode 419 of The Brainy Business podcast, Dr. Ruth Gotian, co-author of the Financial Times Guide to Mentoring, shares her extensive expertise on mentorship and leadership development with host Melina Palmer. Ruth, who serves as the Chief Learning Officer and Associate Professor of Education in Anesthesiology at Weill Cornell Medicine, is a globally recognized expert in mentorship, hailed by institutions like Nature, Wall Street Journal, and Columbia University. She discusses the vital role of mentorship in achieving success and the importance of having a team of mentors to guide and support high achievers.
Throughout the conversation, Ruth delves into the four elements of success from her book, The Success Factor, and emphasizes the significance of intrinsic motivation, overcoming challenges, continuous learning, and the power of mentorship. She also provides practical insights into the differences between mentors, coaches, role models, and sponsors, and how each plays a unique role in personal and professional development. This episode is packed with valuable takeaways for anyone looking to enhance their success through effective mentorship and leadership strategies.
In this episode:
Understand the four key elements of success for high achievers. Differentiate between mentors, coaches, role models, and sponsors. Learn how to effectively seek and engage with mentors. Implement successful mentorship programs within organizations. Recognize the benefits of both being a mentor and having a mentor. Show Notes:00:00:00 - Introduction
Melina Palmer introduces Dr. Ruth Gotian and sets the stage for an insightful conversation on mentorship and leadership development.00:01:30 - Ruth's Background
Ruth shares her background and journey, including her roles at Weill Cornell Medicine and her recognition as a top mentor and emerging management thinker.00:04:20 - The Success Factor
Ruth discusses the four elements of success found in high achievers: intrinsic motivation, overcoming challenges, continuous learning, and mentorship.00:10:15 - Mentorship and Its Importance
The conversation explores the critical role of mentorship in achieving success and how high achievers leverage mentors to guide and support them.00:14:45 - Differentiating Mentorship Roles
Ruth explains the differences between mentors, coaches, role models, and sponsors, and the unique contributions each makes to personal and professional growth.00:19:30 - Effective Mentorship Strategies
Practical advice on how to seek out mentors, engage with them effectively, and the importance of being specific and time-bound in mentorship requests.00:24:00 - Organizational Mentorship Programs
Tips for implementing successful mentorship programs within organizations, including the benefits of group mentoring and creating opportunities for organic mentor-mentee matches.00:30:10 - Reverse Mentoring and Continuous Learning
The concept of reverse mentoring and how both mentors and mentees can learn from each other, fostering a culture of continuous learning and development.00:35:20 - The Value of Networking and Building Relationships
Ruth shares insights on the importance of networking, asking good questions, and building meaningful relationships through thoughtful engagement.00:40:05 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Ruth:
Ruth on LinkedIn Ruth on XLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
The Ultimate Guide to Great Mentorship, by Scott Miller The Success Factor, by Ruth Gotian Mentoring, by Dr. Ruth Gotian and Andy Lopata What Your Employees Need and Can't Tell You, by Melina Palmer Let’s Talk, by Therese HustonTop Recommended Next Episode: Scott Miller Interview (ep 307)
Already Heard That One? Try These:
Kurt Nelson Interview (ep 187) Reciprocity (ep 238) Adjusting Your Mindset — Overcome Imposter Syndrome (ep 306) Scott Miller Interview (ep 307) Survivorship Bias (ep 400)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter Conversations with Ruth Gotian -
In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating world of personal biases, exploring how our brains are wired to perceive ourselves and the world around us. This episode, originally aired in April 2019, provides a rapid-fire overview of various biases that impact our personal and professional lives.
Melina discusses optimism bias, planning fallacy, naive realism, false consensus effect, and more, offering insights into how these biases shape our decisions and interactions. Through practical examples and relatable anecdotes, Melina helps listeners understand the complexities of their own biases and how to leverage this knowledge for better decision-making and improved interactions with others.
Listeners will gain valuable insights into the importance of recognizing and addressing personal biases, and how doing so can lead to greater success in both personal and professional contexts. This episode serves as a comprehensive guide to understanding the hidden forces that influence our thoughts and actions, making it a must-listen for anyone looking to enhance their self-awareness and communication skills.
In this episode:
Identify and understand various personal biases and their impact on decision-making and interactions. Leverage knowledge of biases like optimism bias and planning fallacy to set realistic goals and expectations. Improve communication and collaboration by recognizing and addressing biases such as naive realism and false consensus effect. Utilize insights from biases to enhance marketing strategies and customer interactions. Foster better relationships and teamwork by acknowledging and mitigating the influence of biases like egocentric bias and social comparison bias. Show Notes:00:00:00 - Introduction
Melina introduces the topic of personal biases and sets the stage for a deep dive into how these biases affect our lives and careers.00:02:00 - Optimism Bias
Discussion on optimism bias and how it leads people to believe they are more likely to experience positive outcomes than others.00:04:00 - Planning Fallacy
Exploration of planning fallacy, the tendency to underestimate how long tasks will take, and its implications in personal and professional settings.00:06:00 - Naive Realism
Melina explains naive realism, the belief that we see the world objectively while others are biased, and its impact on communication and collaboration.00:08:00 - False Consensus Effect
Examination of the false consensus effect, where people overestimate how much others agree with them, and strategies to overcome it.00:10:00 - Illusion of Asymmetric Insight
Discussion on the illusion of asymmetric insight, where individuals believe they understand others better than others understand them.00:12:00 - Illusion of Transparency
Melina explores the illusion of transparency, where people overestimate how well they understand others and are understood in return.00:14:00 - False Uniqueness Bias
Analysis of false uniqueness bias, where individuals believe their experiences and problems are unique compared to others.00:16:00 - Forer Effect
Introduction to the Forer effect, also known as the Barnum effect, where people believe vague, general statements are highly accurate for them.00:18:00 - Illusion of Control
Discussion on the illusion of control, the tendency to overestimate one's influence over external events, and its impact on behavior and decision-making.00:20:00 - Egocentric Bias
Exploration of egocentric bias, where individuals believe they do more work than others, and strategies for overcoming it.00:22:00 - Social Comparison Bias
Examination of social comparison bias, where individuals favor candidates who are not in direct competition with their own strengths.00:24:00 - Spotlight Effect
Discussion on the spotlight effect, where people overestimate how much others notice their appearance or behavior.00:26:00 - Overconfidence Effect
Melina explains the overconfidence effect, where people are more certain in their answers than they should be, and its implications in business.00:28:00 - Pro Innovation Bias
Analysis of pro innovation bias, where individuals have excessive optimism about their innovations or products.00:30:00 - Hindsight Bias and Post Purchase Rationalization
Discussion on hindsight bias and post-purchase rationalization, where individuals justify their decisions after the fact.00:32:00 - Choice Supportive Bias and Illusion of External Agency
Examination of choice supportive bias and illusion of external agency, where people believe their choices were more informed than they were.00:34:00 - Illusion of Validity and Conservatism Belief Revision
Melina explores the illusion of validity and conservatism belief revision, where individuals stick to their beliefs despite new evidence.00:36:00 - Continued Influence Effect
Discussion on the continued influence effect, where people continue to believe misinformation even after it has been corrected.00:38:00 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Happier Hour, by Cassie Holmes You Have More Influence Than You Think, by Vanessa Bohns What Your Employees Need and Can't Tell You (ep 225) Mentoring, by Dr. Ruth Gotian and Andy Lopata The Success Factor, by Ruth GotianTop Recommended Next Episode: Planning Fallacy (ep 346)
Already Heard That One? Try These:
Optimism Bias (ep 34) What Your Employees Need and Can't Tell You (ep 225) Biases Toward Others (Including Groups) (ep 314) Vanessa Bohns Interview (ep 318) Hindsight Bias (ep 396)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter Exploring the “Planning Fallacy”: Why People Underestimate Their Task Completion Times Five Most Daunting NFL Stadiums for Visiting Teams Scarlett Johansson & Brie Larson Play ‘Who Saves the World? Girls!’ The Trouble With Overconfidence -
In episode 417 of The Brainy Business podcast, Melina Palmer interviews Justin Jones-Fosu, author of I Respectfully Disagree. Justin, the CEO of Work Meaningful, is a dynamic speaker and thought leader on topics of meaningful work and inclusion, delivering over 50 keynote addresses annually. His latest book delves into navigating difficult conversations in a divided world, a theme central to today’s discussion.
Throughout the episode, Justin shares his insights on creating meaningful work environments and the importance of respectful disagreement. He emphasizes the significance of individuals finding meaning in their work, rather than relying solely on organizational missions. Justin introduces the 3 Rhythm Model, focusing on perspective, tasks, and relationships as key ways to bring meaning to work. He also addresses the concept of respectful disagreement, encouraging healthy conflict and curiosity within teams to foster better outcomes and innovation.
In this episode:
Discover the 3 Rhythm Model to bring meaning to your work. Learn how to create a culture of respectful disagreement in the workplace. Understand the importance of modeling and rewarding healthy conflict. Explore practical tips for challenging your perspective and engaging with diverse viewpoints. Gain insights into cognitive reframing and the value of hearing real stories. Show Notes:00:00:00 - Introduction
Melina introduces Justin Jones-Fosu and his work on meaningful work and respectful disagreement.00:02:15 - Justin's Background
Justin shares his journey, including his role as CEO of Work Meaningful and his latest book, I Respectfully Disagree.00:06:30 - Meaningful Work Defined
Justin explains the concept of meaningful work and the 3 Rhythm Model: perspective, tasks, and relationships.00:12:45 - Individual vs. Organizational Meaning
The focus shifts to how individuals can find meaning in their work, regardless of the organization's mission.00:16:20 - The Greenhouse Effect
Justin discusses the role of leaders in creating environments that foster meaningful work and engagement.00:21:00 - Respectful Disagreement
Transitioning to the topic of respectful disagreement, Justin explains the benefits of healthy conflict and curiosity in teams.00:25:10 - Practical Tips for Leaders
Justin provides actionable advice for leaders on modeling, rewarding, and seeking out disagreement.00:27:00 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Justin:
Justin’s Website How to Respectfully Disagree Justin on LinkedInLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
I Respectfully Disagree, by Justin Jones-Fosu Finding Confidence in Conflict, by Kwame Christian Let’s Talk, by Therese Huston Powerful Phrases for Dealing with Workplace Conflict, by Karin Hurt and David Dye What Your Employees Need and Can't Tell You, by Melina PalmerTop Recommended Next Episode: Kwame Christian Interview (ep 221)
Already Heard That One? Try These:
Focusing Illusion (ep 89) Confirmation Bias (ep 260) Framing (ep 296) Therese Huston Interview (ep 381) Karin Hurt Interview (ep 393)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter
-
In this episode of The Brainy Business podcast, Melina Palmer dives into the intricacies of motivation, exploring how our brains can both get and stay motivated. This episode is designed to help you understand the psychological underpinnings of motivation, including the impact of behavioral economics concepts like loss aversion, habits, and framing. Whether you're aiming for personal development or looking to integrate these insights into your business strategies, this episode has you covered.
Melina shares personal stories, including her journey with running, to illustrate the principles of intrinsic and extrinsic motivation. She also evaluates popular fitness apps like Couch to 5K and Runkeeper, discussing their effectiveness in motivating users and suggesting improvements based on behavioral science. The episode is rounded out with actionable tips for hacking your own motivation, making it a must-listen for anyone eager to achieve their goals.
In this episode:
Learn the difference between intrinsic and extrinsic motivation and how to leverage both. Discover the role of behavioral economics in motivation, including concepts like loss aversion and framing. Get insights into popular fitness apps and how they can either encourage or discourage motivation. Gain actionable tips for setting and achieving your goals by understanding your brain's rules around mindset. Explore practical examples of how to flip the script on your motivation blocks. Show Notes:00:00:00 - Introduction
Melina introduces the episode's focus on motivation and its psychological aspects.00:02:00 - Personal Journey
Melina shares her personal story about running and how it ties into motivation.00:06:00 - The Science of Motivation
An overview of the scientific principles that drive motivation.00:14:00 - Types of Motivation
Discussion on intrinsic and extrinsic motivation, with examples from Melina's life.00:20:00 - Case Studies
Real-world examples of motivation in different contexts.00:25:00 - Behavioral Economics Concepts
Exploration of loss aversion, habits, and framing in the context of motivation.00:32:00 - Evaluating Fitness Apps
Melina evaluates Couch to 5K and Runkeeper, discussing their motivational strategies and suggesting improvements.00:40:00 - Practical Tips
Actionable tips for hacking your own motivation, including setting and limiting goals.00:43:00 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Work Well, Play More, by Marcey Rader Mixed Signals, by Uri Gneezy What Your Employees Need and Can't Tell You, by Melina Palmer Good Habits, Bad Habits, by Wendy Wood I Respectfully Disagree, by Justin Jones-FosuTop Recommended Next Episode: iNcentives (ep 272)
Already Heard That One? Try These:
Wendy Wood Interview (ep 127) Katy Milkman Interview (ep 151) Cobra Effect (ep 220) Uri Gneezy Interview (ep 273) Marcey Rader Interview (ep 323)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter
-
In episode 415 of The Brainy Business podcast, host Melina Palmer welcomes Anthony Damtsis, Deputy Head of Behavioral Finance at TD Wealth. Anthony shares his fascinating journey from leading the behavioral science practice at Discover Card in Chicago to his current role at TD Wealth, where he develops tools to help advisors integrate behavioral finance principles into their practice. The episode delves into his background, the importance of word choice in financial planning, and the intriguing concept of "wealth confidence."
Throughout the conversation, Anthony discusses how subjective feelings of wealth can differ significantly from objective measures, revealing that having more money doesn't always equate to feeling wealthier. He introduces the concept of wealth confidence, which includes intertemporal, social, and purpose and pleasure components, and explains how giving to charity can enhance one's sense of wealth. Anthony also shares insights from a research project that tested different value propositions for financial plans, leading to a significant increase in plan creation rates.
The episode is a treasure trove of insights for anyone interested in behavioral finance, the psychology of wealth, and the power of language in financial planning.
In this episode, you will learn:
The concept of wealth confidence and its impact on financial well-being. How subjective feelings of wealth can differ from objective financial measures. The importance of word choice in financial planning and how it affects client engagement. The role of charitable giving in enhancing one's sense of wealth. Practical strategies for financial advisors to communicate the value of financial plans. Show Notes:00:00:00 - Introduction
Melina introduces Anthony Damtsis, Deputy Head of Behavioral Finance at TD Wealth, and sets the stage for a conversation about behavioral finance and wealth confidence.00:02:30 - Anthony's Background and Journey
Anthony shares his journey from Discover Card to TD Wealth and his passion for behavioral science and economics.00:05:51 - Concept of Wealth Confidence
Anthony introduces the concept of wealth confidence, explaining its components and how it differs from traditional measures of wealth.00:09:00 - Subjective vs. Objective Wealth
Anthony and Melina discuss how subjective feelings of wealth can differ from objective financial measures and the role of social comparisons.00:13:38 - Impact of Charitable Giving
Anthony explains how charitable giving can enhance one's sense of wealth and the psychological mechanisms behind it.00:17:54 - Research on Financial Plans
Anthony shares insights from a research project that tested different value propositions for financial plans, leading to a significant increase in plan creation rates.00:21:31 - Importance of Word Choice
Discussion on the importance of word choice in financial planning and how it affects client engagement.00:24:54 - Practical Strategies for Advisors
Anthony provides practical strategies for financial advisors to communicate the value of financial plans effectively.00:28:36 - Wording Matters
Anthony and Melina discuss the nuances around words used to describe feeling wealthy.00:34:27 - The Importance of Financial Plans
Anthony describes the outcomes of his research and applications for financial advisors.00:37:12 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Anthony:
Anthony on LinkedIn Anthony on XLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Behavioral Science in the WIld, by Dilip Soman and Nina Mazar Behavioral Investor, by Daniel Crosby Dollars and Sense, by Dan Ariely and Jeff Kreisler Influence, by Robert Cialdini Designing for Behavior Change, by Stephen WendelTop Recommended Next Episode: Chuck Howard Interview (ep 213)
Already Heard That One? Try These:
Reciprocity (ep 238) Luke Freeman Interview (ep 239) Dilip Soman Interview (ep 241) Jeff Kreisler Interview (ep 397) Melaina Vinski Interview (ep 413)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter London School of Economics BEAR @ Rotman The Diderot Effect -
In episode 414 of The Brainy Business podcast, host Melina Palmer delves into the intricacies of structuring complex choices, the "S" in NUDGES. This episode revisits the crucial topic of choice architecture, emphasizing how businesses can simplify decision-making processes for their customers. By understanding and effectively managing complex choices, businesses can significantly enhance customer experience and satisfaction.
This episode is packed with practical tips and examples to help businesses reduce complexity and improve customer decision-making processes. Melina encourages listeners to think creatively about their business challenges and consider how successful companies might approach similar problems.
In this episode:
Understand the concept of mapping and its importance in choice architecture. Learn the five steps to effectively structure complex choices. Discover strategies to simplify decision-making for customers. Explore examples from leading companies that excel in managing complex choices. Gain insights on how to apply these strategies to your own business. Show Notes:00:00:00 - Introduction
Melina introduces the episode's focus on structuring complex choices as part of the NUDGES series.00:01:45 - Revisiting Mapping
Melina explains the concept of mapping and its relevance to complex choices, using examples like choosing ice cream flavors and medical treatments.00:05:30 - The Five Steps to Understanding Mapping
Melina outlines the five essential steps to understanding and implementing mapping in choice architecture.00:08:20 - Simplifying Complex Choices
Melina discusses the importance of eliminating unnecessary options and provides examples of how businesses can simplify complex choices for customers.00:15:00 - Examples from Leading Companies
Melina explores how companies like Amazon, Google, Expedia, Zillow, Netflix, and others effectively manage complex choices through categorization and filtering.00:25:00 - Practical Application for Your Business
Melina encourages listeners to think creatively about their own business challenges and consider how successful companies might approach similar problems.00:35:00 - Conclusion,
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Nudge, by Richard Thaler & Cass Sunstein Sludge, by Cass Sunstein Elements of Choice, by Eric Johnson What Your Customer Wants and Can't Tell You, by Melina Palmer The Truth About Pricing, by Melina PalmerTop Recommended Next Episode: Understanding Mapping (ep 294)
Already Heard That One? Try These:
NUDGES and Choice Architecture: Introduction (ep 35) Defaults: The D in NUDGES (ep 38) The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Eric Johnson Interview (ep 174) Cass Sunstein Interview (ep 371)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter Choice Architecture Elimination by Aspects: A Theory of Choice The Knotted Wood Coca-Cola Freestyle -
In episode 413 of The Brainy Business podcast, host Melina Palmer welcomes Dr. Melaina Vinski, the Behavioral Science Lead at IBM, for a deep dive into the practical applications of behavioral science in business and technology. Melaina, with her extensive background in cognitive neuroscience and human behavior, shares her journey from academia to leading behavioral science initiatives at major corporations like PwC Canada and IBM. She discusses the importance of mind wandering, mindfulness, and the integration of behavioral science into technology to create impactful solutions.
Melaina elaborates on her fascinating research experiences, including studying the effects of daylight savings on cognition in Iceland and exploring mindfulness at the Max Planck Institute. She also touches on the significance of empathy, stress management, and cognitive capacity in designing user-centric solutions in the financial services and insurance industries. The episode is packed with insights on how to apply behavioral science principles to drive strategic decision-making, enhance user experience, and improve business outcomes.
In this episode:
Discover the impact of mind wandering and mindfulness on cognitive capacity and creativity. Learn about the integration of behavioral science into technology and its real-world applications. Understand the importance of empathy and stress management in user-centric design. Explore strategic decision-making frameworks that incorporate behavioral science principles. Gain insights into Melaina's journey from academia to leading behavioral science initiatives at IBM. Show Notes:00:00:00 - Introduction
Melina introduces Dr. Melaina Vinski, highlighting her role as the Behavioral Science Lead at IBM and her extensive background in cognitive neuroscience and human behavior.00:04:12 - Melaina's Background and Journey
Melaina shares her journey from academia to the corporate world, discussing her experiences at PwC Canada and IBM, and the transition from theoretical research to practical applications.00:09:45 - Research on Mind Wandering and Mindfulness
Melaina discusses her PhD research on mind wandering and mindfulness, including her studies on the effects of daylight savings in Iceland and mindfulness practices at the Max Planck Institute.00:15:32 - The Importance of Empathy and Stress Management
The conversation shifts to the significance of empathy and stress management in user-centric design, particularly in the financial services and insurance industries.00:21:18 - Integrating Behavioral Science into Technology
Melaina explains how behavioral science principles are integrated into technology at IBM to create impactful solutions, emphasizing the importance of strategic decision-making frameworks.00:27:54 - Practical Applications and Examples
Melaina provides examples of practical applications of behavioral science in business, including a case study on improving customer experience in the insurance industry.00:34:06 - The Role of Cognitive Capacity in Creativity
The discussion highlights the role of cognitive capacity in creativity and problem-solving, and the benefits of mind wandering and taking breaks for better decision-making.00:40:22 - Building a Holistic Approach to Behavioral Science
Melaina shares her approach to building a holistic behavioral science strategy, integrating various frameworks and tools to drive business outcomes.00:46:15 - Closing Thoughts and Future Directions
Melina and Melaina discuss the future directions of behavioral science in business and technology, and the importance of continuous learning and adaptation.00:50:30 - Conclusion
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Melaina:
Melaina on LinkedIn Melaina on XLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
What Your Employees Need and Can't Tell You, by Melina Palmer The Fun Habit, by Mike Rucker Happier Hour, by Cassie Holmes The Myth of Normal, by Gabor Maté Seven And A Half Lessons About The Brain, by Lisa Feldman BarrettTop Recommended Next Episode: Jay Maddock Interview (ep 203)
Already Heard That One? Try These:
Mike Rucker Interview (ep 251) Cassie Holmes Interview (ep 257) Framing (ep 296) Yves Boudreau Interview (ep 375) Matthew Confer Interview (ep 412)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter The Behavioural Strategy Briefing -
In this enlightening episode of The Brainy Business podcast, host Melina Palmer revisits a compelling conversation with Matthew Confer on the three essential steps to better decision-making. As the VP of Strategy at Abilitie, Matthew brings a wealth of knowledge on leadership development and decision-making frameworks. This episode is a must-listen for anyone looking to enhance their decision-making skills, both personally and professionally, especially in the context of business leadership and management.
Melina and Matthew delve into the importance of challenging constraints, embracing pre-mortems, and checking the basics to make more informed and effective decisions. They discuss the value of simulation training for corporate leaders, drawing parallels to pilot training to emphasize the importance of experiential learning. With practical examples and insightful stories, this episode offers actionable strategies to improve decision-making processes in any organization.
In this episode:
Learn the three critical steps to making better decisions: challenging constraints, embracing pre-mortems, and checking the basics. Understand the significance of simulation training in developing leadership and decision-making skills. Explore practical examples of how to implement these strategies in real-world business scenarios. Discover the importance of adaptability and flexibility in decision-making, especially in uncertain times. Gain insights into the psychological aspects of decision-making and how to overcome common biases. Show Notes:00:00:00 - Introduction
Melina introduces the episode and the topic of three steps to better decision-making with Matthew Confer, highlighting the relevance of this discussion for the upcoming episode with Melaina Vinski.00:04:12 - Matthew Confer's Background
Matthew shares his background and his role at Abilitie, explaining how simulation training helps leaders develop critical decision-making skills.00:09:30 - Simulation Training Examples
Matthew provides examples of simulation training scenarios, including people management and financial acumen, and how these simulations help leaders practice decision-making in a controlled environment.00:14:46 - Importance of Experiential Learning
Melina and Matthew discuss the difference between thinking about doing something and actually doing it, emphasizing the value of experiential learning in improving decision-making skills.00:20:15 - Step 1: Challenge the Constraints
Matthew explains the first step in the decision-making framework: challenging the constraints. He shares examples of how successful teams take a step back to identify and challenge the constraints that might be holding them back.00:25:22 - Step 2: Embrace a Pre-Mortem
Matthew introduces the concept of a pre-mortem, explaining how it helps teams anticipate potential failures and plan accordingly. He discusses the psychological benefits of considering why a plan might fail before it is implemented.00:30:45 - Step 3: Check the Basics
Matthew highlights the importance of checking the basics, especially as decisions become more complex. He shares a notable example from NASA to illustrate how small details can trip up even the most advanced projects.00:35:51 - Practical Examples and Applications
Matthew provides practical examples of how these three steps have been applied in real-world scenarios, including the challenges and adaptations faced during the COVID-19 pandemic.00:45:30 - The Press Release Method
Matthew introduces the press release method, a decision-making technique used by Amazon, and discusses its potential benefits and applications in business decision-making.00:50:12 - Conclusion,
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Matthew:
Matthew on LinkedIn Matthew on TwitterLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
What Your Employees Need and Can't Tell You, by Melina Palmer Thinking Fast and Slow, by Daniel Kahneman The Friction Project, by Robert Sutton and Huggy Rao Friction, by Roger Dooley Sludge, by Cass SunsteinTop Recommended Next Episode: Time Discounting (ep 328)
Already Heard That One? Try These:
The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) What Your Employees Need and Can't Tell You (ep 225) Scarcity (ep 270) The Science of Time Pressure (ep 366) Status Quo Bias (ep 376)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter Matthew’s Ted Talk Learn to Lead Podcast Amazon “Press Release” Method To Reach Your Goals, Imagine You Already Tried and Failed What a 5-Step Checklist at Johns Hopkins Can Teach You About Life and Business -
In this episode of The Brainy Business podcast, host Melina Palmer welcomes Jordan Bridger, a behavioral scientist, social psychologist, comedian, and speaker who has graced four TEDx stages. Jordan dives into the fascinating world of linguistic neuroscience, exploring how our word choices and the symbols we use shape our experiences and behaviors. He shares his insights on the power of storytelling, the importance of understanding context, and how seemingly small changes in language can create significant impacts.
Jordan discusses his diverse career, from working with global organizations like the United Nations and the city of Vancouver to his experiences in stand-up comedy and rock climbing. He also emphasizes the importance of humanizing communication and the role of behavioral science in driving positive changes within organizations. Through engaging stories and practical examples, Jordan illustrates how to navigate and implement change effectively, even in challenging environments like a hospital system during the height of COVID-19.
In this episode:
Understand the impact of linguistic neuroscience on behavior and decision-making. Learn how to use storytelling and word choice to influence and engage your audience. Explore the role of behavioral science in driving positive organizational change. Discover practical strategies for humanizing communication and fostering connection. Gain insights into the intersection of technology and behavioral science. Show Notes:00:00:00 - Introduction
Melina introduces Jordan Bridger and highlights his diverse background in behavioral science, social psychology, and comedy.00:05:30 - Jordan's Background and Work
Jordan shares his journey from working with global organizations to his passion for stand-up comedy and rock climbing.00:09:45 - Linguistic Neuroscience and Semiotics
Jordan delves into linguistic neuroscience, discussing how symbols and language shape our experiences and behaviors.00:15:20 - The Power of Storytelling
The conversation explores the importance of storytelling in communication and how it can influence decision-making and engagement.00:20:15 - Behavioral Science in Organizations
Jordan shares his experiences working with organizations to implement positive changes, including a case study with a hospital system during COVID-19.00:30:45 - Humanizing Communication
The discussion emphasizes the need to humanize communication and build connections through relatable language and storytelling.00:35:10 - Technology and Behavioral Science
Jordan and Melina discuss the intersection of technology and behavioral science, highlighting the importance of humanizing technology and using it as a tool for connection.00:45:00 - Practical Tips for Using AI
Jordan offers practical advice for using AI in content creation and communication, emphasizing the importance of personalization and relatability.00:50:30 - Conclusion
Melina and Jordan wrap up the conversation, reflecting on the key insights and takeaways from the episode.
What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Jordan:
Wondr Mporium X LinkedInLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Semiotics In Retail, by Rachel Lawes The Truth About Pricing, by Melina Palmer Nudge, by Richard Thaler & Cass Sunstein The Power of Us, by Jay Van Bavel & Dominic Packer Metaphors We Live By, by George Lakoff and Mark JohnsonTop Recommended Next Episode: Sarah Thompson Interview (ep 259)
Already Heard That One? Try These:
Mirror Neurons (ep 31) Priming (ep 252) Confirmation Bias (ep 260) Framing (ep 296) Haley Swafford Interview (ep 409)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter Of Other Spaces, by Michel Foucault -
In this episode of The Brainy Business podcast, host Melina Palmer revisits her engaging conversation with Dr. Benny Cheung of Dectech. Originally aired in February 2021, this episode dives into the fascinating world of applied behavioral science, focusing on a compelling case study about opportunistic insurance fraud. Benny shares insights from his academic journey in behavioral genetics to his application of behavioral techniques in a commercial setting, providing valuable lessons for businesses across various industries.
Benny's research on opportunistic insurance fraud reveals how simple behavioral interventions can significantly reduce dishonest behaviors among consumers. By leveraging techniques such as norming, self-consistency, priming, framing, and reciprocity, the study demonstrates how these nudges can sway consumer honesty and potentially save the insurance industry millions. This episode is packed with practical insights and examples that highlight the power of behavioral science in real-world applications.
In this episode:
Discover the impact of behavioral genetics on understanding consumer behavior. Learn about the challenges and strategies in addressing opportunistic insurance fraud. Explore the effectiveness of different behavioral interventions in promoting honesty. Understand the importance of testing and experimentation in behavioral science. Gain insights into designing and implementing behavioral nudges in various business contexts. Show Notes:00:00:00 - Introduction
Melina Palmer introduces the episode and the guest, Dr. Benny Cheung, highlighting the focus on opportunistic insurance fraud and the application of behavioral science in commercial settings.
00:04:08 - Dr. Benny Cheung's Background
Benny shares his academic background in behavioral genetics and his transition to applying behavioral science in a commercial backdrop, supporting clients in understanding consumer behavior.
00:09:16 - Behavioral Genetics and Consumer Behavior
Benny discusses the hereditary nature of certain behaviors and the implications of genetic research on understanding consumer behavior, providing fascinating insights from his work with nematode worms.
00:15:46 - Opportunistic Insurance Fraud
Benny explains the concept of opportunistic insurance fraud, differentiating it from organized fraud, and discusses the challenges in detecting and addressing this type of fraud.
00:20:21 - Behavioral Interventions
Benny outlines the five behavioral concepts used to develop 18 different nudges aimed at reducing opportunistic insurance fraud, including norming, self-consistency, priming, framing, and reciprocity.
00:28:57 - Testing and Results
Benny describes the randomized control trial methodology used to test the effectiveness of the interventions and shares the impressive results, highlighting the significant impact of norming interventions.
00:35:51 - Importance of Testing
Benny emphasizes the importance of testing and experimentation in behavioral science, discussing the benefits of quasi-experiments and real-life trials in refining and validating interventions.
00:42:17 - Consumer Perceptions
Benny addresses the importance of ensuring that behavioral interventions do not negatively impact consumer perceptions, sharing insights from the study on how interventions were received by participants.
00:47:30 - Conclusion
Melina Palmer wraps up the episode, encouraging listeners to think about how the insights shared can be applied to their own businesses and reminding them to check the show notes for additional resources and related episodes.Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.
I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.Let’s connect:
[email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on YoutubeConnect with Benny:
Benny on LinkedIn Benny on Twitter Dectech’s Website Dectech on TwitterLearn and Support The Brainy Business:
Check out and get your copies of Melina’s Books.
Get the Books Mentioned on (or related to) this Episode:
Mixed Signals, by Uri Gneezy Nudge, by Richard Thaler & Cass Sunstein The Truth About Pricing, by Melina Palmer What Your Customer Wants and Can't Tell You, by Melina Palmer The Friction Project, by Robert Sutton and Huggy RaoTop Recommended Next Episode: Henry Stott Interview (ep 130)
Already Heard That One? Try These:
Cobra Effect (ep 220) Priming (ep 252) Nudges Incentives (ep 272) Uri Gneezy Interview (ep 273) How to Set Up Your Own Experiments (ep 63)Other Important Links:
Brainy Bites - Melina’s LinkedIn Newsletter Using behavioural science to reduce opportunistic insurance fraud - Show more
