033 - How to Change Your Behavior and Make Better Decisions (with Katy Milkman)
Apr 25, 2024
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Wharton professor Katy Milkman discusses strategies for changing behavior, beating impulsivity, making difficult decisions, and the power of subtractive solutions. She explores the concept of satisficing, overcoming barriers to behavior change, and enhancing creativity through varied perspectives. The podcast delves into decision-making strategies, distinguishing between significant and insignificant choices.
Distinguish significant decisions from minor ones to conserve mental energy and focus on essential choices.
Removing obstacles can be more impactful than constantly seeking additional solutions, promoting a more streamlined approach to achieving goals.
Deep dives
Recognizing the Importance of Prioritizing Big Decisions Over Small Ones
Katie Milkman emphasizes the significance of not getting caught up in the small decisions and being content with satisficing on less critical matters to conserve mental energy for more substantial choices. She explains that differentiating between big and small decisions is vital; being unsure about a choice often indicates that it's not a significant decision. Moreover, she touches on cognitive dissonance, highlighting how our minds tend to justify the decisions made, leading us to feel good about them over time.
The Value of Subtracting Obstacles Instead of Constantly Adding Solutions
Katie Milkman advocates for a subtractive approach when tackling challenges, suggesting that removing barriers may be more effective than constantly searching for new solutions. By focusing on identifying and eliminating obstacles in one's path towards a goal, individuals can streamline their efforts and potentially achieve better results. This strategy encourages a reflective mindset that considers what can be taken away instead of only considering what to add.
Leveraging the Wisdom of the Inner Crowd for Decision-Making
Katie Milkman discusses the concept of tapping into both the inner crowd within oneself and the perspectives of close mentors or wise individuals for decision-making support. She highlights the importance of seeking diverse viewpoints to gain insights and make informed choices. By simulating the advice or thought processes of trusted individuals, one can enhance their decision-making process and consider varying perspectives before making a choice.
Optimizing Decision-Making Through Personal Reflection and External Input
Katie Milkman underscores the value of reflecting on big decisions at different times of the day to gain fresh perspectives and insights. Additionally, she suggests leveraging the cognitive dissonance phenomenon to feel content with decisions after making them. By integrating personal reflection with external advice and insights, individuals can navigate decision-making processes more effectively, considering various angles and potential outcomes to make well-informed choices.
We humans have a tendency to get in our own way. When it comes to starting new habits, changing our behavior, or making big decisions, we create all kinds of complications for ourselves. Fortunately, we’ve got Katy Milkman, a Wharton professor and expert on the science human behavior. Today, she gives strategies for beating our impulsivity (which she calls the “granddaddy” of obstacles to behavior change), making hard decisions, and why sometimes the best solution involves subtraction not addition.
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