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Choiceology with Katy Milkman

Jumping to Conclusions: With Guests David Silbey & Ned Augenblick

Choiceology with Katy Milkman

Charles Schwab

Behavioral Economics, Society & Culture, Social Sciences, Decision Making, Charles Schwab, Business, Science, Investing, Dan Heath, Katy Milkman

4.81.4K Ratings

🗓️ 9 October 2023

⏱️ 37 minutes

🧾️ Download transcript

Summary

Why do people tend to over-respond to weak signals and under-respond to strong ones?

Transcript

Click on a timestamp to play from that location

0:00.0

The newcomers are called Killer Bs. The potential invaders are predicted to reach the Texas

0:12.0

border by 1989. A simple glitch is threatening a new age of chaos. The second the world's

0:18.4

computers click over to the year 2000.

0:21.0

All right, so what is pretty alarming? NASA is working right now to prevent an internet

0:25.8

apocalypse.

0:29.3

Sometimes it seems like every story in the news is hailed as the most earth shattering,

0:34.6

most consequential update imaginable. Journalists, professors, social media stars, friends

0:41.6

and colleagues breathlessly explain why it's exciting or it's terrifying, or why it somehow

0:47.0

paints a clear picture of the future, even though that future may never come to pass.

0:52.5

In this episode, we'll look at the peculiar way we respond to breaking information, the

0:58.0

new signals that arrive in our environment, even when that information is actually not

1:02.9

all that monumental.

1:05.8

On a list of potential Republican contenders for the White House in 2016, former Florida

1:10.4

Governor Jeb Bush is the clear number one according to a new poll, and when it matters

1:15.0

immensely.

1:16.0

I can not stress this enough. Do not ignore evacuation orders. Remember, we can rebuild

1:21.6

your home, but we cannot rebuild your life.

1:29.4

I'm Dr. Katie Milkman, and this is Choiceology, an original podcast from Charles Schwab.

1:35.8

It's a show about the psychology and economics behind our decisions. We bring you true stories

1:40.9

about high stakes choices, and then we examine how these stories connect to the latest research

1:46.2

in behavioral science. We do it all to help you make better judgments and avoid costly

1:51.4

mistakes.

...

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