The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics cover image

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

Latest episodes

undefined
Sep 23, 2024 • 48min

430. Unlocking the Secrets of Behavioral Change with Dr. Katy Milkman (Refreshed Episode)

Dr. Katy Milkman, a Wharton professor and co-director of the Behavior Change for Good Initiative, shares her insights on creating lasting behavior change. She discusses the concept of fresh starts and how they can spark motivation. Temptation bundling emerges as a strategy for forming habits, while giving advice to others is revealed as a confidence booster. Katy emphasizes identifying barriers to change for effective solutions and shares engaging stories illustrating the power of small interventions in achieving significant outcomes.
undefined
Sep 18, 2024 • 48min

429. Mastering the Art of Learning: Insights from Scott Young

In this  episode of The Brainy Business podcast, host Melina Palmer welcomes Scott H. Young, the Wall Street Journal bestselling author of Ultralearning and Get Better at Anything. Scott shares his extensive insights into learning, cognitive science, and the psychology behind mastering new skills. Known for his MIT Challenge and year-long language learning adventure, Scott discusses the importance of immersive learning, repetitive practice, and the role of feedback in achieving fluency and proficiency. Scott delves into the fascinating world of how we learn and improve, emphasizing the significance of learning from others, the challenges of problem-solving, and the necessity of focused practice. He also touches on the concept of "desirable difficulties" and how they enhance long-term retention and skill mastery. This episode is a treasure trove for anyone looking to understand the mechanics of learning and how to apply these principles to get better at anything. In this episode: Discover the key components of effective learning: See, Do, and Feedback. Understand the importance of repetitive practice and immersion in mastering new skills. Learn about the concept of "desirable difficulties" and how they improve long-term retention. Explore the role of feedback in learning and how to create environments that foster expertise. Gain insights into the psychological aspects of learning and overcoming common barriers. Show Notes: 00:00:00 - Introduction Melina introduces Scott and highlights his background and work in the field of learning and cognitive science. 00:03:30 - Scott's Background and Projects Scott shares his journey and notable projects, including the MIT Challenge and his year-long language-learning adventure. 00:11:20 - The Importance of Immersion Scott discusses the benefits of immersive learning and how it accelerates fluency and proficiency. 00:21:45 - Repetitive Practice and Fluency The conversation explores the role of repetitive practice in achieving fluency and the difference between fluency and overall proficiency. 00:31:10 - Desirable Difficulties Scott explains the concept of "desirable difficulties" and how they enhance learning and retention. 00:41:00 - The Role of Feedback The discussion highlights the importance of feedback in learning and how to create environments that foster expertise. 00:45:00 - Practical Tips for Learning Scott offers practical advice for applying these learning principles to various skills, including public speaking and business. 00:47:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Scott: LinkedIn X  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Good Habits, Bad Habits, by Wendy Wood Indistractable, by Nir Eyal How to Change, by Katy Milkman Get Better at Anything, by Scott H. Young Ultralearning, by Scott H. Young and James Clear Top Recommended Next Episode: How to Set, Achieve and Exceed Brainy Goals (ep 70) Already Heard That One? Try These:  Habits (ep 256) Status Quo Bias (ep 376) Katy Milkman Interview (ep 151) Tapping into the Power of Habit (ep 368) Wendy Wood Interview (ep 428) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter
undefined
Sep 16, 2024 • 46min

428. Habits Unveiled: The Science of Good and Bad Habits with Dr. Wendy Wood (Refreshed Episode)

Dr. Wendy Wood, a renowned expert in behavioral science and author of Good Habits, Bad Habits, discusses the fascinating mechanics of habit formation. She explores how habits are formed through cues and rewards, emphasizing the influence of context on behavior. The conversation dives into the disruption of routines during the pandemic, the psychology behind fitness habits, and how businesses can leverage habit science for customer engagement. Wendy provides actionable strategies for fostering good habits while mitigating bad ones, using engaging real-world examples.
undefined
Sep 11, 2024 • 51min

427. The Mentorship Mindset: Nobel Insights with Dr. Bob Lefkowitz

Dr. Bob Lefkowitz, a Nobel Prize-winning professor at Duke University, shares his remarkable journey in medical research. He emphasizes the crucial role of mentorship, spotlighting his relationship with fellow laureate Brian Kobilka. Dr. Lefkowitz discusses the importance of focus, storytelling, and asking insightful questions in both science and business. He offers practical advice on balancing determination with strategic thinking, ensuring that listeners gain valuable insights into fostering creativity and navigating professional challenges.
undefined
Sep 9, 2024 • 39min

426. Defaults Uncovered: The Hidden Influences on Our Choices (Refreshed Episode)

Defaults are everywhere, shaping our decisions in ways we often overlook. Melina Palmer unveils the concept of status quo bias, showing how it nudges us to stick with default options, even when better choices exist. Practical examples, like retirement savings and organ donation, reveal the power of thoughtful choice architecture. The discussion highlights ethical considerations in creating defaults and the responsibility to guide beneficial behavior. Embracing change through focusing on a single habit can lead to positive personal transformation.
undefined
Sep 4, 2024 • 41min

425. Decisions Over Decimals: Insights from Christopher Frank

Christopher Frank, Chief Client Officer at PSB Insights and former executive at American Express and Microsoft, shares his expertise on decision-making in a data-rich environment. He highlights the power of asking the right questions to better understand complex issues. Christopher discusses the integration of data analytics and intuition, introducing the concept of 'quantitative intuition.' Listeners learn how to foster a culture that embraces data-driven decisions and the importance of context in interpreting data for strategic growth.
undefined
Sep 2, 2024 • 49min

424. Mastering Project Scoping with Questions: Insights from Mars w/ Beatrix Daros (Refreshed Episode)

Beatrix Daros, an expert in leveraging behavioral economics, discusses enhancing project outcomes through the power of questions. She highlights the balance between technology and genuine human connections used in her work with Mars’ KIND brand. The conversation dives into global snacking habits and cultural perceptions of health, as well as the innovative use of virtual reality for consumer testing during the pandemic. Beatrix shares valuable insights about effective communication and the importance of understanding local markets for successful product placement.
undefined
Aug 29, 2024 • 46min

423. Unveiling the Biases Behind Misinformation w/ Alex Edmans

In this engaging discussion, Alex Edmonds, a finance professor at London Business School and author of "May Contain Lies," explores the intriguing ties between emotions and financial decision-making. He reveals how sports results can sway stock market behavior and highlights the perils of confirmation bias and black-and-white thinking. Alex introduces the 'ladder of misinference,' emphasizing the importance of accurate data interpretation. Tune in for practical strategies to enhance critical thinking and combat misinformation!
undefined
Aug 26, 2024 • 27min

422. The Lazy Brain: Unveiling Biases That Shape Our Decisions (Refreshed Episode)

In this discussion, Alex Edmonds, a thought leader on decision-making and misinformation, explores the fascinating realm of lazy brain biases. Listeners learn how biases like the default effect and decoy effect shape our choices. Edmonds emphasizes the importance of critically evaluating information, especially in a tech-driven world where automation bias can influence decisions. He offers insights into overcoming these cognitive shortcuts to make better, more informed choices in both personal and business contexts.
undefined
Aug 22, 2024 • 36min

421. Behavioral Science and Democracy w/ Beatriz Vallejo

Beatriz Vallejo, CEO of Ethos BT and a behavioral scientist, dives into the pressing issue of misinformation in Colombia. She shares insights on her Detox Information Project, which employs behavioral science to combat fake news and political polarization. Highlighting psychological factors like distrust and dehumanization, Beatriz reveals how innovative interventions have reduced misinformation vulnerability by 30%. This insightful discussion underscores the pivotal role of research and community collaboration in addressing societal challenges.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode