Freakonomics Radio

Co-founders of Warby Parker and a fashion historian discuss the eyewear industry, EssilorLuxottica's market dominance, Ray-Ban's luxury status, and antitrust concerns. Explore high prices, historical evolution, monopolies, and Warby Parker's disruption. Government intervention, new challengers like Warby Parker, and strategies for affordable eyeglasses are also discussed.

Richard Thaler, a Nobel laureate and pioneer in behavioral economics, shares his journey from unlikely winner to academic influencer. He humorously discusses human irrationality and how small 'nudges' can improve decision-making in finance and charity. Thaler reflects on past economic crises, the impact of behavioral insights on policies, and challenges like Bitcoin skepticism. He also candidly addresses the complexities of life after winning the Nobel Prize, emphasizing that success doesn't shield one from daily struggles.

Shane Frederick, a marketing professor at Yale, and Matt Killingsworth, a senior fellow at Wharton, gather to celebrate Daniel Kahneman's enormous impact on behavioral economics. They explore key concepts like loss aversion and the planning fallacy while reflecting on Kahneman's collaborative spirit in scientific research. The duo delves into the complex relationship between income and happiness, discussing innovative methodologies that challenge conventional wisdom. Additionally, they emphasize the importance of adversarial collaboration in enhancing research integrity.

In this thought-provoking discussion, Andrew Yang, a former presidential candidate and entrepreneur, joins Michael Porter, a Harvard Business School professor, and Katherine Gehl, a former CEO, to tackle the flaws of the American political duopoly. They explore how entrenched parties stifle competition and the challenges faced by reform-minded candidates. The trio emphasizes innovative solutions like ranked choice voting and nonpartisan primaries to revitalize democracy, advocating for structural reforms to better represent voters and foster genuine political competition.

John Cawley, a professor of economics at Cornell University, delves into the risks and rewards of celebrity endorsements in branding. He discusses the fallout from Jared Fogle's scandal and its surprising minimal impact on consumer loyalty towards Subway. The conversation touches on how public perception and moral outrage shape market dynamics, alongside the ethical dilemmas brands face when aligning with celebrity figures. Cawley humorously navigates the complexities of these endorsements, raising intriguing questions about their true effectiveness.

Sonia Friedman, a celebrated theatrical producer known for her acclaimed productions, joins John Johnson, co-founder of Wagner Johnson Productions, and Tom Pecinka, an actor in the hit musical 'Stereophonic.' They explore the highs and lows of Broadway's winner-take-most economy, revealing the hidden struggles even among successful stars. The trio discusses the emotional impact of abrupt fame, the intricate financial landscape behind productions, and the challenges of the theater industry in a post-pandemic world, particularly in adapting to shifting audience dynamics.

PJ Vogt, a reporter and host known for his insights into the digital age, joins Lutz Leichsenring, a key figure in Berlin's nightlife, to dissect the legendary Berghain nightclub. They explore the club's rich history and infamous door policy, revealing how Cold War tensions and tax laws shaped its mystique. The conversation touches on the unique social dynamics of belonging in Berlin's nightlife and the evolution from post-war parties to a cultural institution, illustrating the balance between exclusivity and community.

Join David Adjmi, a Tony-nominated playwright known for his play Stereophonic, and Tom Pecinka, who delivers a gripping performance as the lead. They discuss the struggles of Broadway facing economic challenges like rising ticket prices and competition. The creative process behind Stereophonic reveals the delicate balance between artistic integrity and commercial pressure. Personal stories highlight the financial hardships artists endure, yet the resilience of the theater community shines as they strive for revival and connection in a post-COVID world.

Tom Whitwell, a managing consultant at Magnetic and curator of an intriguing annual list, shares 52 insights from the past year. He dives into human behavior, touching on fraud, marketing influences, and the persistence of outdated tech like fax machines. Whitwell discusses the rise in job satisfaction in the U.S. and the challenges in highlighting good news amidst negativity. He also tackles misconceptions about longevity and supercentenarians, encouraging listeners to recognize incremental progress in society.

Jeanmarie Perrone, a professor specializing in addiction medicine at the University of Pennsylvania, and Stephen Loyd, Chief Medical Officer at Cedar Recovery, delve into the opioid crisis. They discuss personal stories of addiction and the importance of harm reduction strategies like Suboxone. Insights reveal how the pandemic exacerbated the crisis and highlight innovative treatment approaches, including the 'warm handoff' method to support recovery. The conversation addresses stigma and the community's vital role in overcoming addiction challenges.