Intelligence Squared Putting Peer Pressure to Work with Robert H Frank and Linda Yueh
May 22, 2020
In this engaging discussion, Robert H. Frank, author of 'Under the Influence,' teams up with Linda Yueh to explore how our social environments shape our choices. They uncover surprising insights from behavioral economics, revealing how peer pressure drives everything from smoking to investment decisions. The duo emphasizes the potential of social influence for positive change, highlighting the balance of individual versus collective actions in policy-making, especially regarding climate advocacy. Tune in for a thought-provoking take on using peer pressure for the greater good!
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Six Degrees of Separation Experiment
- Stanley Milgram's experiment tested the "six degrees of separation" theory.
- 18 out of 96 packets reached their destination, showing unexpected interconnectedness.
Candid Camera and Conformity
- Candid Camera showed people conforming to peer pressure by taking off their clothes.
- A job candidate conformed because other interviewees (confederates) did, demonstrating the power of social influence.
FOMO and Its Impact
- FOMO (Fear Of Missing Out) drives investors and voters, impacting markets and elections.
- It stems from believing others possess superior information, sometimes leading to herding behavior.
