Nudging

Nudging is trying to encourage people to adopt a behavior that they would agree is in their best interest. It's not like sneakily trying to get people to buy cigarettes or do something that isn't in their best interests. A good example of this, probably the sort of best known example of a successful nudge, and a big win for nudging, is in the retirement savings domain. But it matters really quite a lot. And so thinking carefully about how we use defaults wisely can lead to better outcomes.

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Do you want to create lasting behavioral change but can’t seem to make it stick? Katy Milkman, Wharton School Professor, bestselling author, and podcast host has dedicated her life to studying behavior change, and in this episode, she gives a science-backed blueprint of how to create lasting change and achieve your goals. In this episode, Hala and Katy chat about barriers to change and why humans are so impulsive. Katy shares science-backed strategies to help you create lasting change like temptation bundling, gamification, and the fresh start effect. Katy also dives deep into what she’s learned about encouraging others to adopt a behavior through nudging, and the powerful effect giving advice can have.

Topics Include:

- What first got Katy interested in human behavior

- Relationship between engineering and human behavior

- What makes it so hard for us to change?

- Why are humans impulsive?

- Temptation bundling and gamification

- Commitment Devices

- The Fresh Start Effect

- Rigidity versus variability for habits

- Counteracting the “What the Hell Effect”

- Perspective on the power of negative thinking

- Why acting like a mentor can help you succeed

- How can we become advice-givers?

- COVID-19 Vaccine Adoption Research

- Nudging

- Katy’s actionable advice

- Katy’s secret to profiting

- And other topics…

Katy Milkman is a James G. Dinan Professor at The Wharton School of the University of Pennsylvania and the host of Charles Schwab’s popular behavioral economics podcast Choiceology. She is also the co-founder and co-director of the Behavior Change for Good Initiative, a research center with the mission of advancing the science of lasting behavior change whose work is being chronicled by Freakonomics Radio. She is also the author of the best-selling book, How to Change.

She received her undergraduate degree from Princeton University (summa cum laude) in Operations Research and Financial Engineering and her Ph.D. from Harvard University's joint program in Computer Science and Business.

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The Jordan Harbinger Show - Check out jordanharbinger.com/start for some episode recommendations

Resources Mentioned:

Katy’s Book: https://www.katymilkman.com/book

Katy’s Website: https://www.katymilkman.com/

Katy’s Newsletter: https://www.katymilkman.com/newsletter-milkman-delivers

Katy’s Linkedin: https://www.linkedin.com/in/katy-milkman/

Katy’s Twitter: https://twitter.com/katy_milkman

Katy’s Instagram: https://www.instagram.com/katymilkman/

Katy’s Facebook: https://www.facebook.com/katymilkmanphd/