

#44: Do Nudges Really Work?
Nov 30, 2020
Discover why a free 72-ounce steak can generate excitement at one restaurant but not at another. Delve into the replicability crisis affecting psychological research and the famous marshmallow experiment. Evaluate how reliable behavioral nudges can be, especially the controversy surrounding honesty and signing one's name. Learn about low-cost nudges that lead to significant improvements in various policy areas, encouraging you to experiment with these interventions for personal gain.
AI Snips
Chapters
Books
Transcript
Episode notes
Big Texan Steak Challenge Success
- The Big Texan Steak Ranch offers a free 72-ounce steak challenge that attracts many diners with its strict and unique rules.
- This challenge cleverly uses the power of "free" and anchoring to influence customer behavior and profitability.
Nudges Face Replicability Crisis
- The replicability crisis questions if many nudges and psychological results are reliable across contexts.
- Scientists and practitioners need to rigorously test and update understanding about what truly works.
Marshmallow Experiment Misinterpreted
- The marshmallow experiment linked delayed gratification in children to better life outcomes but recent replication with larger, diverse samples disproved it.
- The only consistent factor found was economic background affecting children’s behavior, not self-control.