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PODCAST

Choiceology with Katy Milkman

Can we learn to make smarter choices? Listen in as host Katy Milkman--behavioral scientist, Wharton professor, and author of How to Change--shares stories of high-stakes decisions and what research reveals they can teach us. Choiceology, an original podcast from Charles Schwab, explores the lessons of behavioral economics to help you improve your judgment and change for good. Season 1 of Choiceology was hosted by Dan Heath, bestselling author of Made to Stick and Switch. Podcasts are for

science social sciences

All Episodes

00:29:41

The Buddy System: With Guests Max Maeder & Rachel...

Choiceology with Katy Milkman ·

2024/08/12

Pursuing a goal alone is convenient. Whether you're training for a marathon or aiming to read 20 books this year, it's convenient to move at your own pace and schedule. But having a gym buddy or a book club pal can make a bigger difference to your goal completion than you think. In this episode of Choiceology with Katy Milkman, we look at the benefits of tandem goal pursuit in the context of training for a new Olympic sport: kite foiling. Max Maeder is a 17-year-old kite foiling athlete and

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00:35:55

To Fight Another Day: With Guests Alex Imas & Mary...

Choiceology with Katy Milkman ·

2024/06/03

When you're facing loss—say, in a board game or during a sporting event or with a declining stock—it can be difficult to remember your true tolerance for risk. You're likely to seek risk more than you normally would.In this episode of Choiceology with Katy Milkman, we look at a tendency to seek risk in the face of losses when those losses aren't yet finalized, but how chalking up those losses and moving on can actually help you recalibrate your appetite for risk.During the American Revolutionary

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00:31:28

Choiceology's Guide to Better Decisions: With Guests...

Choiceology with Katy Milkman ·

2024/05/20

Over the years, Choiceology has offered a lot of advice for making better decisions. In this special episode of Choiceology with Katy Milkman, we bring you the story of a video game that is surprisingly effective at reducing decision errors, and you'll hear about a practical checklist for improving choices in many different contexts.Solving fictitious mysteries might sound like fun and games, but the video game MISSING: The Pursuit of Terry Hughes was designed with a serious purpose in mind: to help

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00:34:20

The Charmer's Playbook: With Guests Wilfred Webster &...

Choiceology with Katy Milkman ·

2024/05/06

"Don't judge a book by its cover" is an old adage for a good reason. Elegant book cover designs can create a positive impression and make you more likely to judge the writing quality more positively. But these traits—cover art and writing—are separate and distinct features of books. So why do we allow the judgment of one trait to spill over to another unrelated trait? In this episode of Choiceology with Katy Milkman, we look at a tendency to allow our judgments of one trait of a person (or product

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00:34:12

Recipe for Success: With Guests Simon Rogan & Michele...

Choiceology with Katy Milkman ·

2024/04/22

Are rules made to be followed—or meant to be broken? Often, the answer will depend on culture and the context in which people make decisions. In this episode of Choiceology with Katy Milkman, we look at how carefully people in different contexts follow social norms, rules, and procedures. We'll also see how strict and relaxed cultures affect the quality of our decisions—and how to find the sweet spot depending on your goals.Professional kitchens have historically been challenging work environments:

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00:44:32

Take the Deal! With Guests Daniel Kahneman, Colin...

Choiceology with Katy Milkman ·

2024/04/08

In this episode of Choiceology with Katy Milkman, we look at how framing a decision based on what you stand to lose versus what you stand to gain affects your tolerance of risk.Luis Green was a contestant on the popular TV game show Deal or No Deal. The game is largely one of chance, but there are moments during play where the contestant has an option to accept a cash offer to quit. At one point in the game, Luis was offered $333,000 to simply walk away. A guaranteed win! It seems like an obvious

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00:32:05

Top of Mind: With Guests John Farrell & Manasvini Singh

Choiceology with Katy Milkman ·

2024/03/25

When someone asks, "What's your favorite restaurant?" odds are you're inclined to recommend a place you've eaten at recently—even if it's not really your favorite. It's just top of mind. Why do we weigh recent events so heavily? And how does this tendency impact important decisions, like whom to vote for or how to conduct medical procedures? In this episode of Choiceology with Katy Milkman, we look at a phenomenon that can cause us to overweight recent events compared to earlier events and make

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00:34:15

Repeat After Me: With Guests Jennifer LeMesurier &...

Choiceology with Katy Milkman ·

2024/03/11

Vitamin C is a cure for the common cold. Bats are blind. Sugar makes children hyperactive.All of these statements are false. So why are they so pervasive? And why do they feel so true?In this episode of Choiceology with Katy Milkman, we look at a phenomenon that can cause us to believe inaccurate information more than we should, and also lead us to trust reliable information less than we should.If you’re over a certain age, you might remember friends or family panicking about MSG, or monosodium

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00:29:03

(BONUS) From What It's Like to Be … a Forensic...

Choiceology with Katy Milkman ·

2023/12/18

Curious what it would be like to walk in someone else's (work) shoes? Join New York Times bestselling author Dan Heath as he explores the world of work, one profession at a time, and interviews people who love what they do. What does a couples therapist think when a friend asks for relationship advice? What happens if a welder fails to wear safety glasses? What can get a stadium beer vendor fired? If you've ever met someone whose work you were curious about, and you had 100 nosy questions but were

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00:37:36

A Sticky Situation: With Guests Richard Thaler, Wendy...

Choiceology with Katy Milkman ·

2023/10/23

Filling out an overly complicated form or waiting on hold for hours to speak with a customer service rep is a frustrating experience. And sometimes it seems like the process itself is designed to be difficult.In this episode of Choiceology with Katy Milkman, we look at how friction––time, distance, complexity, or anything that gets in the way of your goals—can contribute to what Nobel Prize–winning economist Richard Thaler calls "sludge." A young couple walks into a theme park and they are offered a

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00:37:15

Jumping to Conclusions: With Guests David Silbey &...

Choiceology with Katy Milkman ·

2023/10/09

A train was speeding along the tracks in 19th-century England when a passenger suddenly started smashing windows and waving a pistol in the air. People believed his actions were caused by what was, at the time, a new and unfamiliar form of transportation. Doctors posited the rattling motion and noise of trains could cause passengers to act erratically, creating the short-lived but popular myth of "railway madness."In this episode of Choiceology with Katy Milkman, we look at how people often

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00:33:46

No Mean Feat: With Guests Albert Chen & Elizabeth Tipton

Choiceology with Katy Milkman ·

2023/09/25

It’s halftime at a basketball game. A kid nervously steps onto center court. If he can score a basket from center court, he’ll take home the prize money. He tells the announcer that he plays on his elementary school team and that he has been practicing for this moment. The crowd holds their breath as the ball sails through the air, hits the backboard … and goes in. The stadium erupts in excitement. Could he be the next Michael Jordan? In this episode of Choiceology with Katy Milkman, we look at how

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00:30:23

A Cup of Knowledge: With Guests A.J. Jacobs & Steven...

Choiceology with Katy Milkman ·

2023/09/11

Why do ocean waves move the way they do? How does a toaster work? How might ink flow through a ballpoint pen without the help of gravity? You may know the answer to these questions, but explaining them in detail could reveal an unexpected truth.In this episode of Choiceology with Katy Milkman, we look at why people think they understand things better than they actually do.The idea started at the dinner table. One of A.J. Jacobs’ kids presented him with a seemingly simple task—thank the people who

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00:33:49

The Golden Misfits: With Guests Gary Lawless & Erika...

Choiceology with Katy Milkman ·

2023/08/28

What is the difference between buying groceries for the whole week versus grabbing something to eat on the way home each day? Grouping choices together so that you make a bunch of selections all at once can seem daunting, but it can actually help you reach your goals faster.In this episode of Choiceology with Katy Milkman, we look at how taking a bird's eye view on a series of selections can help create better results overall.Most sports teams take years to establish themselves as contenders. But

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00:32:57

An Accidental Experiment: With Guests Steven Levitt,...

Choiceology with Katy Milkman ·

2023/08/14

Scientifically sound, randomized experiments can be expensive and difficult to run. But there’s an alternative: It turns out that certain real-life situations can also generate useful scientific data. The trick is finding them.In this episode of Choiceology with Katy Milkman, we look at how events outside of our control can create opportunities for so-called natural or accidental experiments. The organizers of a heroic airlift transporting thousands of Ethiopian Jews to Israel broke the record for

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00:37:48

The Superforecasters: With Guests Leon Panetta, Peter...

Choiceology with Katy Milkman ·

2023/06/05

There are moments in life where it seems as though everything is riding on one important decision. If only we had a crystal ball to see the future, we could make those decisions with greater confidence. Fortune-telling aside, there are actually methods to improve our predictions—and our decisions.In this episode of Choiceology with Katy Milkman, we look at what makes some people “superforecasters.” In 2010, the United States government had been looking for Al Qaeda leader and perpetrator of the 9/11

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00:29:15

Survey Says: With Guests W. Joseph Campbell & Emily...

Choiceology with Katy Milkman ·

2023/05/22

If you ran a survey at a science fiction convention to find out which movies were most popular with the general public, chances are good that the results would lean heavily towards sci-fi films. This skewing of data is plain to see in this context, but in many others it’s less obvious and potentially more pernicious.In this episode of Choiceology with Katy Milkman, we look at a bias that can distort information that we gather from the world around us.First, W. Joseph Campbell tells the story of the

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00:31:09

(BONUS) From Ripple Effect: Does Diversity Training...

Choiceology with Katy Milkman ·

2023/05/08

On this special bonus episode of Choiceology with Katy Milkman, we highlight Ripple Effect, a new podcast from the Wharton School of the University of Pennsylvania. Hosted by Dan Loney, Ripple Effect showcases research by Wharton faculty and shares what their insights mean for you.As part of a series on women and work, this episode of Ripple Effect features Choiceology host and Wharton professor Katy Milkman. After years of conducting research on gender bias in the workplace, Katy has reached a

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00:32:59

Brave on the Waves: With Guests Bianca Valenti &...

Choiceology with Katy Milkman ·

2023/04/24

We all make decisions involving risk. Decisions like trying out for your school’s chess team, speaking up when you don’t agree with your boss, or going down a double-black-diamond run at the end of a long day of skiing. So how do we determine which risks are worth taking and which ones are too … risky?In this episode of Choiceology with Katy Milkman, we look at gender differences around confidence and uncertainty, and how we can all better calibrate our bravado.Surfing waves as tall as apartment

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00:30:19

Fan Fictions: With Guests Hannah Sung, Crystal Tai &...

Choiceology with Katy Milkman ·

2023/04/10

Finding a new favorite celebrity feels a little bit like falling in love. Perhaps you find their smile endearing, or you relate to their sense of humor. Maybe you see things in your everyday routine that remind you of them. You feel like you know them so well. But whether it’s a star athlete or a Hollywood type, the reality is they likely have no idea who you are. In this episode of Choiceology with Katy Milkman, we explore how we can develop deep connections with complete strangers — and how that

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