The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics
487. What We Value
Apr 10, 2025
In this discussion, Emily Falk, a professor at the University of Pennsylvania and expert in behavior change, reveals the complex layers of value beyond money. She discusses how self-relevance and social relevance shape our choices, influencing personal behavior and the spread of ideas. Through compelling examples, including the inspiring journey of NBA player Ernie Grunfeld, she emphasizes the importance of effective framing in communication. Listeners also learn strategies to reduce defensiveness, fostering openness in decision-making and improving relationships.
42:03
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Quick takeaways
- Understanding the complex value calculation involves personal experiences and social influences, impacting everyday decision-making across various contexts.
- Framing messages to align with individuals' core values significantly enhances their openness to new ideas and likelihood of sharing information.
Deep dives
Understanding Value Calculations
The brain’s value system integrates various inputs to derive subjective values for potential choices. This calculation influences daily decisions, ranging from simple preferences like food selection to more complex choices regarding health and social interactions. It highlights that our decisions are not just based on objective metrics, but also on personal experiences, social influences, and immediate needs. By understanding this process, individuals can become more aware of the factors that influence their choices and potentially shift their behaviors towards more beneficial outcomes.
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