First-born children tend to believe that their parents were harder on them than their siblings are willing to grant. Football fans take disproportionate note of the challenging games on their team's schedules. We're wired to interpret our challenges as bigger than our advantages, even if the reality is more balanced.

In this episode of Choiceology with Katy Milkman, we consider our tendency to focus more attention on our negative or challenging experiences than on our positive or easy ones. This asymmetry also appears in how we remember the lives and experiences of other people.

Daniella McCahey is co-author of Antarctica: A History in 100 Objects and an assistant professor in history at Texas Tech University. She shares the harrowing adventures of one of Antarctica's most famous explorers, Richard E. Byrd. Byrd is credited with being the first to fly over the North and South Poles in the 1920s. He led five expeditions to Antarctica, including one where he nearly died. Byrd was truly a remarkable polar explorer and aviation pioneer, but also someone born into many advantages.

Next, Katy speaks with Tom Gilovich, the Irene Blecker Rosenfeld Professor of Psychology at Cornell University. Gilovich identified what is now known as the headwinds/tailwinds asymmetry. He's also the author of the books The Wisest One in the Roomand How We Know What Isn't So.

Choiceology is an original podcast from Charles Schwab.

If you enjoy the show, please leave a rating or review on Apple Podcasts.

Important Disclosures

The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.

Data contained herein from third party providers is obtained from what are considered reliable source. However, its accuracy, completeness or reliability cannot be guaranteed and Charles Schwab & Co. expressly disclaims any liability, including incidental or consequential damages, arising from errors or omissions in this publication.

All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.

The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.

Investing involves risk including loss of principal.

The books How to Change: The Science of Getting from Where You Are to Where You Want to Be, Alone: The Classic Polar Adventure, The Wisest One in the Room and How We Know What Isn't So are not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Charles Schwab & Co., Inc. (CS&Co.) has not reviewed the books and makes no representations about its content.

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