Capital Allocators – Inside the Institutional Investment Industry Katy Milkman – How to Change (Capital Allocators, EP.199)
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Jun 14, 2021 
Katy Milkman, a professor at The Wharton School and author of How to Change, dives into the science of behavior change. She outlines eight obstacles to transformation, exploring procrastination, confidence, and conformity. Katy shares innovative strategies like 'temptation bundling' and commitment devices to combat procrastination. She discusses the influence of social dynamics on performance and the significance of fresh starts for lasting change. With personal insights, Katy illustrates how her research applies to investing and everyday life challenges.
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Unexpected Path to Change
- Katy Milkman's journey to studying change began unexpectedly during her engineering PhD.
- A microeconomics class sparked her interest in behavioral economics and its applications to real-life problems.
Temptation Bundling Origins
- Katy Milkman's "me-search" started with her own struggle to balance gym and studies.
- This led to the concept of "temptation bundling," where she only allowed herself to enjoy audiobooks while exercising.
Temptation Bundling
- Use temptation bundling to make long-term goals more appealing.
- Link instantly gratifying activities, like listening to podcasts, with less enjoyable but beneficial ones, such as chores or exercise.
