Discussing the impact of routines on productivity and happiness, exploring the balance between structured routines and chaotic lifestyles. Delving into the significance of morning routines for optimal productivity, featuring insights from Tony Robbins and Cass Sunstein. Teasing upcoming personality-focused series and quizzes for listeners.

Experts from Caltech and Vrije University discuss the evolution of 'cool', contrasting popularity with coolness and the impact of social media on trends. They explore the traits of cool brands like Jordan shoes and the neuroscience behind coolness. The conversation touches on famous figures like Taylor Swift and Walmart, while debunking childhood lies and teasing future episodes on successful gatherings.

In this episode of Choiceology with Katy Milkman, we look at how framing a decision based on what you stand to lose versus what you stand to gain affects your tolerance of risk.Luis Green was a contestant on the popular TV game show Deal or No Deal. The game is largely one of chance, but there are moments during play where the contestant has an option to accept a cash offer to quit. At one point in the game, Luis was offered $333,000 to simply walk away. A guaranteed win! It seems like an obvious choice. But as you’ll hear from the story, there are other factors that influenced his decision.Katy illustrates these factors with a version of a famous experiment. Volunteers are presented with two differently worded but mathematically identical scenarios. A simple shift from framing the scenario as a potential gain to one of potential loss results in starkly different choices from the volunteers.Next, Katy speaks with special guest Daniel Kahneman about the underlying theory that explains human behavior in these types of situations.Daniel Kahneman is a professor of psychology and public affairs emeritus at the Woodrow Wilson School and the Eugene Higgins Professor of Psychology Emeritus at Princeton University. He was awarded the 2002 Nobel Prize in Economics for his pioneering research with Amos Tversky. Their work helped establish the field of behavioral economics. Kahneman is also the author of the bestselling book Thinking, Fast and Slow.Finally, Katy speaks with Colin Camerer about some of his favorite studies on risk seeking in the domain of losses, as well as practical approaches for avoiding this less-than-ideal behavior.Colin Camerer is the Robert Kirby Professor of Behavioral Finance and Economics at the California Institute of Technology, where he teaches cognitive psychology and economics. You can read his paper “Prospect Theory in the Wild: Evidence from the Field” here.Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts.Important Disclosures:All expressions of opinion are subject to change without notice in reaction to shifting market conditions.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.(0919-9CT3)

Guests Daniel Kahneman and Colin Camerer, along with game show contestant Luis Green, discuss the psychology of decision-making in high-stakes situations like Deal or No Deal. Topics include framing decisions based on potential loss or gain, the reflection effect on preferences, and the influence of framing choices on decision-making.

Colin Camerer, Robert Kirby Professor of Behavioral Finance at Caltech, brings a wealth of knowledge on decision-making and neuroeconomics. He dives into the fascinating intersection of consumer behavior and psychological research, revealing how advanced technologies like MRI and eye-tracking shape our understanding of choices. Discover how hormones and neurotransmitters influence risk aversion and trust in financial contexts. Camerer also discusses market psychology and the storytelling behind investor behavior, uncovering the emotional nuances that drive financial decisions.