Present Bias

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Present bias is, i think, one of the most pernicious barriers to change. Economists call at present bias the tendency to value whatever we'll get right now. This obviously has all sorts of important implications and leads to lots of mistakes made in life. But it's also a major barrier to behaviour change because we discount what we'll get later.

Katy Milkman is a Professor at The Wharton School of the University of Pennsylvania, host of Charles Schwab’s popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making, and the former president of the Society for Judgment and Decision Making. She’s also the co-founder and co-director of the Behavior Change for Good Initiative.

In this episode, Eric and Katy discuss her book, How to Change: The Science of Getting from Where You Are to Where You Want to Be.

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In This Interview, Katy Milkman and I Discuss How to Change and …

Her book, How to Change: The Science of Getting from Where You Are to Where You Want to Be
The biggest barriers to change (and how to overcome them)
The importance of recognizing the choices you’re making when you’re actually making them
The benefit of making it fun to do what’s needed to accomplish goals
How to combine intrinsic and extrinsic motivation to maximize the benefit
The non-linear nature of change
The key to sustained habits
How important it is to apply both flexibility and discipline to habits

Katy Milkman Links:

Katy’s Website

Twitter

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If you enjoyed this conversation with Katy Milkman, you might also enjoy these other episodes:

Tiny Habits for Behavior Change with BJ Fogg

Behavior Change with Dr. John Norcross

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