The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics 478. The Power of Choice Architecture in Behavior Change
In this episode of The Brainy Business podcast, Melina Palmer engages in a thought-provoking conversation with Eric Johnson, a leading expert in choice architecture and behavioral decision-making. They explore the critical elements of choice and how the way options are presented can significantly influence decision outcomes. Eric, a faculty member at Columbia Business School and director of the Center for Decision Sciences, shares insights from his extensive research, including the implications of defaults, the paradox of choice, and the importance of framing in decision-making.
Gain a deeper understanding of how small adjustments in choice architecture can lead to substantial changes in behavior, as illustrated by real-world examples such as organ donation rates and consumer preferences. Eric emphasizes the role of designers in shaping choices and the ethical considerations that come with this influence.
In this episode:
- Discover the concept of choice architecture and its impact on decision-making.
- Learn about the importance of defaults and how they can drive behavior change.
- Explore the balance between offering too many choices and the potential for overwhelm.
- Understand how framing and priming can alter preferences and outcomes.
- Gain insights into the ethical responsibilities of choice designers.
Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/478.
Looking to explore applications of behavioral economics further?
- Learn With Us on our website: thebrainybusiness.com/learn-with-us/
- Subscribe to Melina’s Newsletter Brainy Bites
Let’s connect:
- Send Us a Message: thebrainybusiness.com/contact/
- Follow Melina on LinkedIn: linkedin.com/in/melinapalmer/
- The Brainy Business on Youtube: youtube.com/c/thebrainybusiness
- The Brainy Business on Instagram: instagram.com/thebrainybiz/