Conversation with Dan Ariely — Why People Believe Irrational Things
Feb 1, 2024
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Dan Ariely, a professor of psychology and behavioral economics, discusses why rational people believe irrational things, the avoidance of facts when we don't like the solution, and how a lack of trust can spiral into other areas. They also explore the psychological needs satisfied by misbeliefs and the importance of empathy in discussions and understanding motivation. Additionally, they touch on the impact of employee treatment on stock returns.
Stress and a lack of control can lead rational people to believe in irrational things, such as superstitions and conspiracy theories, particularly during times of uncertainty.
Empathy and effective communication strategies are crucial in addressing misbelief, fostering understanding, and promoting constructive conversations.
Deep dives
The Impact of Stress and Misbelief
Stress has been identified as a major factor in leading people to believe in seemingly irrational things. When individuals experience stress and feel a lack of control, they may turn to superstitions or complex conspiracy theories as a way to regain a sense of control and understanding. This is particularly evident in times of uncertainty, such as during the COVID-19 pandemic. The younger generation, despite being highly educated, is often more prone to misinformation and conspiracy theories, possibly due to the stress and anxiety they face in today's society. Building resilience and creating a sense of psychological safety and trust in institutions are crucial to combating misbelief and promoting rational thinking.
The Role of Empathy and Communication
In order to address misbelief and engage in productive discussions, empathy and effective communication strategies are essential. Instead of engaging in heated arguments or attempting to convince others with evidence, it is important to first acknowledge and empathize with their viewpoints and experiences. Creating a safe space for open dialogue and focusing on shared goals and solutions can help bridge the gap. Asking questions, actively listening, and acknowledging different perspectives can foster understanding and promote more constructive conversations.
Motivation and Intrinsic Factors
Motivation plays a crucial role in our beliefs and behaviors. Studies show that extrinsic factors like salary and benefits have limited impact on employee motivation compared to intrinsic factors. Intrinsic motivation, such as feeling appreciated, having psychological safety, and aligning with the company's values, are key drivers of productivity and well-being. Goodwill, which involves going beyond job descriptions, and utility embracing, actively seeking opportunities to contribute beyond one's assigned tasks, can significantly enhance motivation and overall performance.
Self-Inflicted Wounds: The Impact of Social Media
One of the self-inflicted wounds facing society today is the detrimental impact of social media. With its spread of misinformation, social polarization, and negative effects on mental health, it has become a breeding ground for misbelief and irrational behavior. The various societal issues arising from the misuse of social media, such as increasing loneliness, depression, and the breakdown of trust in institutions, highlight the urgent need for greater regulation and standards for truth. Addressing these challenges will require significant changes to information systems and a reassessment of the concept of free speech.
Dan Ariely, a professor of psychology and behavioral economics at Duke University, joins Scott to discuss what makes rational people believe seemingly irrational things. He also shares how we avoid certain facts when we don’t like the solution, as well as how a lack of trust in one area can spiral into others.