Podcasts about availability bias

Have feedback or a question? Text us!SummaryIn this episode of OOH Insider, Tim and Chris Kane from Jounce Media discuss the complexities of Supply Path Optimization (SPO) in the context of DOOH advertising. They explore challenges posed by fragmentation in the RTB supply landscape, sources of demand for DOOH inventory, and strategies employed by networks that are succeeding in this space. The conversation also delves into programmatic advertising's implications and the role of ad networks, emphasizing the need for screen owners to make informed decisions about partnerships and inventory management.TakeawaysSPO involves deliberate choices about RTB auctions.DOOH faces ambiguity compared to CTV.75% of DSP money is concentrated in three platforms.Winning networks focus on specialized SSPs for inventory.Screen owners must ensure their supply is highly available.Ad networks can dilute ad spend for screen owners.The market rewards publishers who run duplicate auctions.Screen owners face a dilemma in choosing partnerships.Transparency in advertising is crucial for trust.Jounce Media offers valuable resources for understanding the market.Chapters00:00 Introduction to Supply Path Optimization (SPO)02:54 Challenges in DOOH Advertising06:29 Understanding Demand Sources in DOOH11:32 Winning Strategies for DOOH Networks15:55 Navigating Programmatic Advertising in DOOH19:44 The Role of Ad Networks in DOOHNews We CoveredCommerce Video Drives Retail GrowthAdvertisers Measure Retail Media Success Through PerformanceHow to Connect with Chris KaneCheck out Jounce Media: https://jouncemedia.com/Connect with Chris Kane on LinkedIn: https://www.linkedin.com/in/christopherfkaneFollow him on Twitter/X: https://twitter.com/ckaneTry our custom-built GPT for FREE! Custom GPT built on more than 500+ pages of curated OOH Insider transcripts and resources to build The Ultimate Insider. OOH Insider AI.

In this episode of The Brainy Business, Melina Palmer delves into the fascinating concept of selective attention biases, shedding light on how our brains naturally filter what we focus on, influencing our decisions and perceptions. Through real-life examples and relatable anecdotes, Melina explores various biases, including the frequency illusion, mere exposure effect, and Von Restorff effect, to showcase how our perceptions are shaped by what we pay attention to.  By emphasizing the power of shifting focus and expectations, she highlights the practical implications of understanding and challenging these biases. Melina's insights provide valuable guidance on how to navigate cognitive biases effectively and make more informed choices in various aspects of life and business. Her engaging and relatable approach makes this episode a must-listen for anyone keen on improving decision-making skills. So, tune in and discover how being mindful of selective attention biases can lead to more informed choices and positive outcomes. In this episode: Recognize selective attention biases to make more informed decisions. Explore the impact of repeated exposure to enhance your perceptions. Identify cognitive biases in memory recall for improved cognitive awareness. Learn to manage the influence of expectations on focus for better decision-making. Overcome confirmation bias to enhance the quality of your judgments. Show Notes: 00:00:00 - Introduction Melina introduces the concept of selective attention biases and its impact on decision-making. The episode will cover biases related to where we focus our attention, how it impacts decisions, and how it colors our perception when looking back. 00:04:08 - Frequency Illusion and Recency Illusion Melina discusses the frequency illusion, selection bias, and recency illusion, explaining how our brains notice things more after they come to our attention. This leads to biases in decision-making and impacts our perceptions. 00:10:07 - Selective Perception and Attentional Bias Melina delves into the concepts of selective perception and attentional bias, highlighting how our expectations influence the way we perceive things. She emphasizes the power of shifting focus and expectations for positive impact. 00:13:34 - Rhyme as Reason Effect, Belief Bias, and Conjunction Fallacy Melina explores the impact of the rhyme as reason effect on decision-making and the tendency to believe rhyming statements. She also explains the belief bias and conjunction fallacy, shedding light on how our biases influence the logical strength of arguments. 00:16:06 - Base Rate Fallacy and Base Rate Neglect Melina discusses the base rate fallacy and neglect, emphasizing how we tend to focus on specific information while ignoring general or base rate information. These biases can lead to faulty decision-making and misinterpretation of probabilities. 00:16:58 - Understanding Biased Decision Making Blue dominates the cab market, but witnesses tend to misidentify cab colors. This bias affects decision-making and highlights the need to consider base rates in our judgments. 00:19:17 - Impact of Biases on Research and Business Biases impact scientists' studies and lead to expectancy effects, illusory correlations, and subjective validation. These biases can hinder businesses' ability to accurately assess customer groups and marketing strategies. 00:23:13 - Overcoming Confirmation Bias Confirmation bias affects our ability to search for and interpret information. We tend to focus on information that confirms our beliefs, leading to narrow perspectives. Overcoming bias requires open-mindedness and seeking input from diverse perspectives. 00:27:24 - Hindsight Bias and Outcome Bias Hindsight bias leads us to view past events as more predictable than they were, impacting future decisions. Outcome bias causes us to judge decisions based on their results rather than the information available at the time. Both biases can distort our memory of past events. 00:29:41 - Conclusion Melina's top insights from the conversation. 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 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: Foolproof, by Sander van der Linden Tune In, by Nuala Walsh What Your Employees Need and Can't Tell You, by Melina Palmer Both/And Thinking, by Wendy Smith and Marianne Lewis Thinking, Fast and Slow, by Daniel Kahneman Top Recommended Next Episode: Nuala Walsh Interview (ep 153) Already Heard That One? Try These:  Sander van der Linden Interview (ep 337) Wendy Smith Interview (ep 261) Overview of Personal Biases (ep 45) Biases Toward Others – Including Groups (ep 314) Memory Biases (ep 280) Present Versus Future Biases (ep 246) Availability Bias (ep 310) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

In this episode of The Brainy Business podcast, Carmen Rodriguez, the Managing Director and Global Chief Client Officer at Gut, shares profound insights about Gut's unique approach to advertising and the importance of embracing intuition and unconventional ideas in decision-making processes. She discusses Gut's founding principles, which emphasize the significance of following intuition and trusting instincts in the advertising industry.  Carmen's expertise in developing brain-friendly strategies and her emphasis on the power of storytelling, empathy, and understanding cognitive biases make this episode a must-listen for business owners and leaders who seek to enhance customer engagement. Carmen's valuable insights and practical examples demonstrate how businesses can effectively connect with their audience, craft compelling narratives, and make decisions that resonate with customers on a subconscious level. This episode offers a wealth of knowledge for those looking to implement more effective strategies and build stronger customer connections. In this episode, you will be able to: Implement brain-friendly strategies for businesses to enhance customer engagement and retention. Embrace unconventional ideas in advertising to captivate and resonate with your target audience. Establish the importance of clear values in branding to create a lasting and impactful brand identity. Assess clients based on shared values to foster stronger and more meaningful connections. Harness the power of storytelling in business to create compelling and memorable brand narratives. Show Notes: 00:00:00 - Introduction Melina introduces the guest, Carmen Rodriguez, managing director of Gut Miami, a global independent creative network. Carmen shares her passion for advertising and the agency's unique approach to following intuition. 00:03:55 - The Meaning of Gut Carmen explains the meaning behind the agency's name, Gut. It represents the importance of intuition and trusting one's instincts, a value that Gut encourages in its work with clients and in their creative process. 00:09:43 - Brand Values and Client Fit Carmen emphasizes the significance of having clear brand values and living by them. She discusses the importance of assessing client fit based on shared values, affinities, and goals, ensuring healthy and lasting relationships. 00:13:38 - The Stages of Bravery Carmen shares Gut's approach as a "brave agency for brave clients" and unpacks the concept of bravery as a scale and journey. She uses the analogy of learning to ride a bike to illustrate the process of becoming braver in the creative and business realm. 00:15:05 - Navigating the Bravery Journey The conversation delves deeper into the process of guiding clients through the bravery journey, focusing on the gradual progression towards embracing bold and disruptive ideas. Carmen highlights the agency's role in helping clients identify their desire to be braver in their approach. 00:15:33 - The Bravery Scale Carmen discusses the bravery scale, a tool used to assess a client's level of bravery from 0 to 10. She emphasizes the importance of the journey towards bravery and the need to identify where the clients are and where they want to go. 00:17:41 - Different Facets of Bravery Carmen explains that bravery for brands can manifest in various ways, such as changing positioning, working with celebrities, or launching new products. She highlights the importance of identifying different facets of bravery and the flexibility to move up the bravery scale. 00:19:23 - Bravery Means Business Carmen emphasizes that bravery should lead to business results and discusses the value of using data to make brave decisions. She stresses the importance of using data in a gutsy way and executing ideas that validate with data. 00:25:10 - Timely and Brave Marketing Carmen shares a real-life example of a timely and brave marketing campaign for Vital Farms around Valentine's Day. The campaign embraced the high egg prices and offered a unique promotion, showcasing the value of embracing timely opportunities for branding. 00:30:42 - Navigating Shortages and Consumer Needs Carmen discusses another successful campaign for Philadelphia cream cheese during a shortage. The campaign addressed consumer needs during the pandemic, showcasing the importance of understanding consumer behavior and addressing shortages in a creative and timely manner. 00:31:43 - Embracing Challenges and Creating Unique Promotions Carmen discusses how they turned a cream cheese shortage into a promotional hit by offering alternative dessert ingredients to customers. This proactive approach and unique campaign resonated well with their audience. 00:32:24 - Leveraging Brand Identity in Campaigns Carmen explains how they maintained the brand's cheeky identity in their promotions, using humor and holiday themes to stay true to their brand while addressing customer needs. This approach helped them stand out and connect with their audience. 00:33:53 - Innovative Campaign Mechanics Carmen details the mechanics of the campaign, including a website where customers could input their receipts for alternative dessert ingredients to be reimbursed. This approach helped them effectively address the cream cheese shortage and support their customers. 00:34:48 - Reframing Challenges as Opportunities Carmen emphasizes the importance of reframing challenges as opportunities, such as turning the Valentine's Day cheesecake shortage into a self-love promotion. By thinking outside the box, they were able to create a unique and successful campaign. 00:37:40 - Tapping into Untapped Markets Carmen highlights the value of tapping into untapped markets and addressing the needs of specific customer segments. This approach resulted in a highly successful and award-winning campaign. 00:41:45 - Conclusion, Melina's top insights from the conversation. 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 Carmen: Gut Agency Instagram  LinkedIn  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: A More Beautiful Question, by Warren Berger Alchemy, by Rory Sutherland Magic Words, by Jonah Berger What Your Customer Wants And Can't Tell You, by Melina Palmer For The Culture, Marcus Collins Top Recommended Next Episode: Mars/Kind Interview (ep 215) Already Heard That One? Try These:  Warren Berger Interview (ep 340) What Problem Are You Solving? (ep 126) Availability Bias (ep 310) Herding (ep 264) Social Proof (ep 87) Jonah Berger Interview (ep 301) Priming (ep 252) What is Value? (ep 234) Status Quo Bias (ep 376) Quality or Value (ep 357) Rory Sutherland Interview (ep 373) Scarcity (ep 270) Reciprocity (ep 238) Framing (ep 296) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter North Face Ad Gut Website Oreo Ad

In this episode of The Brainy Business podcast, Melina Palmer explores the concept of normalcy bias and its implications for decision-making. She provides compelling examples of how normalcy bias impacts individuals and industries, emphasizing the necessity of overcoming this mindset to foster adaptability and innovation. Melina underscores the significance of seizing virtual opportunities and leveraging behavioral economics for business success, urging her audience to consider the enduring value of maintaining virtual offerings.  Additionally, she addresses the perils of normalcy bias, emphasizing the need to acknowledge and confront the tendency to underestimate potential future challenges or changes. Melina teases an upcoming episode with Cass Sunstein, where the concept of normalcy bias will be thoroughly examined, offering listeners an exciting chance to gain further insights. This segment offers valuable insights on embracing change, capitalizing on virtual prospects, and challenging conventional norms, making it essential listening for business professionals seeking to enhance their decision-making acumen. In this episode: Recognize the impact of normalcy bias on decision-making processes. Utilize virtual opportunities to leverage behavioral economics for business growth. Enhance business success by maintaining virtual offerings in the current market landscape. Implement diversification strategies to mitigate risks and optimize business resilience. Address normalcy bias to improve decision-making and strategic planning. Show Notes: 00:00:00 - Introduction Melina introduces the concept of normalcy bias and its impact on decision-making during times of crisis or change. 00:03:02 - Impact of Normalcy Bias on Decision Making Melina discusses how normalcy bias affects decision-making, leading to complacency and resistance to change, using examples from different industries. 00:09:20 - Clinging to Normalcy in Times of Change Melina explores the tendency to cling to normalcy even when change is inevitable, and how this can hinder adaptability and innovation in businesses. 00:12:48 - Impact of Normalcy Bias on Financial Industry Melina provides an example of how normalcy bias affected decision-making in the financial industry, leading to missed opportunities and potential risks for businesses. 00:15:08 - Adapting to Change and Overcoming Normalcy Bias Melina shares insights on the need to adapt to change, prepare for unforeseen circumstances, and overcome normalcy bias for long-term business sustainability. 00:16:05 - Exploring New Opportunities Melina discusses the need to look for virtual opportunities, the importance of behavioral economics for business success, and the potential for adding new product lines accessible from home. 00:16:34 - Market Fit and Future Planning Melina emphasizes the importance of aligning with market needs, maintaining future sustainability, and considering brand continuity in business decisions. 00:17:25 - Diversification and Normalcy Bias Melina highlights the significance of diversification in business and the impact of normalcy bias on decision-making and problem-solving in the face of change. 00:18:09 - Underestimating Change Melina discusses how normalcy bias leads to underestimating the impact and duration of problems, and the need to regain sensitivity to notice both positive and negative aspects of life. 00:19:25 -  Conclusion Melina's top insights from the conversation. 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 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: Look Again, Cass Sunstein and Tali Sharot Sludge, Cass Sunstein Nudge, Richard Thaler and Cass Sunstein Simpler, Cass Sunstein What Your Employees Need and Can't Tell You, Melina Palmer  Top Recommended Next Episode: Sludge (ep 179) Already Heard That One? Try These:  Nudge (ep 35) Optimism Bias (ep 34) Loss Aversion (ep 9) Availability Bias (ep 15) Time Discounting (ep 51) Herding (ep 19) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Tali Sharot Ted Talk

"We Are What We See." This revelation is not just a simple observation but a doorway to understanding the immense power that lies within our grasp, the power of perception. Our minds are like mirrors, reflecting the world within and around us. But these mirrors are unique – they do not merely reflect; they alter, they distort, they magnify. What we see is not just the world as it is, but the world as we are. Our fears, our hopes, our dreams, our traumas – they all tint the glass of our perceptions. Our perceptions are like a prism, refracting the light of reality into a spectrum of experiences. These perceptions shape our understanding of the world, coloring our thoughts, emotions, and actions. They can illuminate our paths with hope and clarity or cast shadows of doubt and fear. The key here is to realize that these perceptions are within our control. They are malleable, adaptable, and subject to our will. Let us embrace this powerful realization: "We Are What We WANT To See." Let us recognize and harness the creative power of our perception. Let us intentionally craft our vision, focus on our desires, and open our minds to the limitless possibilities. Our reality is ours to shape, our world ours to craft, through the power of what we choose to see. 

In this episode of The Brainy Business podcast, you will hear an insightful conversation between host Melina Palmer and guest Ben Guttmann, author of Attention!: The Power of Simple Decisions in a Distracted World. Guttmann shares his expertise on the importance of simplicity in communication and offers practical advice on creating messages that resonate with the audience. Through examples and analogies, Guttmann highlights the "Frankenstein problem" of overloading messages with too much information, stressing the need for focus and clarity. He emphasizes the concept of fluency in messaging and how it leads to simplicity and resonance.  The episode also delves into the paradox of choice, the difference between nice and kind messaging, and the significance of context in crafting effective messages. If you're a communicator or marketer looking to improve your messaging and connect with your audience on a deeper level, this episode is a must-listen. In this episode: Master the art of simplicity in communication to captivate your audience and convey your message with clarity and impact. Create messages that cut through the noise and resonate with your target audience, leading to higher engagement and conversion rates. Harness the power of context in your messaging to ensure your audience understands the relevance and importance of your message, increasing its effectiveness. Craft messages that leave a lasting impact on your audience, turning them into loyal customers and advocates for your brand. Avoid the pitfalls of fragmented communication by delivering cohesive and consistent messages that strengthen your brand and build trust with your audience. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces Ben Guttmann, author of the book Simply Put, and provides a brief overview of his background in marketing and communications. 00:03:10 - Example of Simple Messaging Ben shares an example of a project he worked on for a power plant in New York City. The power plant needed an internal rallying cry to help employees feel a sense of identity and purpose. The slogan they developed, "Making New York Happen," became a powerful message that resonated with the employees. 00:06:47 - Internal Messaging with External Potential Ben discusses another project he worked on, a pro bono campaign to combat littering in New York City parks. The campaign aimed to tap into the identity of being a "real New Yorker" and encourage people to not litter. Although the campaign was not launched due to timing issues, it demonstrates how internal messaging can have external potential. 00:10:57 - Empathy in Messaging Ben emphasizes the importance of empathy in messaging. He explains that effective messaging should meet people where they are and speak their language. Understanding the audience's perspective and using language that resonates with them is key to creating impactful messages. 00:12:50 - Simplifying Complex Messages Ben and Melina discuss the challenge of simplifying complex messages. Ben highlights the importance of finding the core message and eliminating unnecessary complexity. By focusing on the key point and delivering it clearly, messages can become more memorable and effective. 00:14:49 - The Problem of Having Too Much Stuff in Your Message Ben discusses the common problem of having too much information in a message, leading to a lack of focus and effectiveness. He uses the analogy of a website redesign and refers to his own website as "Franken-site" to illustrate this issue. 00:17:14 - The Frankenstein Idea in Communication Ben introduces the concept of the "Frankenstein idea" in communication, where multiple components are put together in a message without considering their compatibility. He compares it to the monster in Mary Shelley's Frankenstein, highlighting the importance of focus and coherence in communication. 00:20:56 - The Sender and Receiver in Communication Ben emphasizes the distinction between senders and receivers in communication. He explains that as senders, it is our responsibility to ensure our message is heard and understood by the receivers, as they are not inherently interested in what we have to say. Humility and effective messaging are key. 00:23:03 - The Burden of the Sender Ben discusses the burden of the sender in communication. He highlights that it is the sender's responsibility to create a message that is valuable and engaging for the receiver, as they do not wake up wanting to hear the sender's message. The sender must pay the postage to ensure their message is heard. 00:29:41 - The Power of Focusing on One Idea It's better to pick one piece of an idea and focus on it, even if it's not the strongest. Commitment leads to better messaging and concept development. 00:31:26 - Mediocre Feedback vs. Love or Hate Mediocre feedback is worse than receiving love or hate for your work. The distance between love and hate is shorter than between apathy and passion. A little bit of nuance and commitment can turn an imperfect concept into something better. 00:33:22 - The Paradox of Choice Having too many options can lead to indecision and apathy. When there are fewer options, people are more likely to rally behind and appreciate what they have chosen. 00:35:04 - The Importance of Kindness in Messaging Kindness in messaging goes beyond being nice. It means caring about the well-being and outcome of the receiver. Simple and clear messages, like a parking sign that says "Don't even think about parking here," can be kind and effective. 00:39:57 - Respecting People's Time It's important to respect people's time and not waste it with cluttered or irrelevant messaging. When messages are concise and get to the point, people are more likely to pay attention and take action. 00:44:22 - The Importance of Contrast Ben emphasizes the importance of contrast in communication, stating that without quiet, there can be no loud. He explains that knowing what exists is crucial in order to stand out and connect with your audience. 00:44:56 - Standing Out and Resonating Ben discusses the significance of context and resonating with your audience. He highlights the need to understand what resonates with your audience in order to make an impact. 00:45:20 - Connecting and Getting More Information Ben directs listeners to his website, Benguttmann.com, where they can find his blog, sign up for his newsletter, and download the first chapter of his book for free. He encourages connecting with him on LinkedIn or other platforms. 00:45:53 -  Conclusion, Melina's top insights from the conversation. 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 Ben: Ben's website Ben's LinkedIn 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: Simply Put, by Ben Guttmann Subtract, by Leidy Klotz For The Culture, by Marcus Collins The Hype Handbook, by Michael Schein What Your Customer Wants And Can't Tell You, by Melina Palmer Top Recommended Next Episode: The Hype Handbook with Michael Schein (ep 350) Already Heard That One? Try These:  Do You Subtract Enough? w/ Leidy Klotz (ep 322) Framing (ep 296) Availability Bias (ep 310) Bikeshedding (ep 99) Curse of Knowledge (ep 176) Understanding the Problem (ep 126) For the Culture (ep 305) Herding (ep 264) Social Proof (ep 87) Ikea Effect (ep 112) What Is Value? (ep 234) Paradox of Choice (ep 171) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Why Many Men Think They Could Win a Point Off Serena Williams

In this episode of The Brainy Business podcast, you'll hear Melina Palmer interview Michael Schein, author of The Hype Handbook. This conversation delves into the power of hype in marketing and how to effectively capture attention and drive action. Michael shares his insights on the art of hype, emphasizing the importance of storytelling in making messages captivating and memorable. He explores the concept of certainty and how people are drawn to messages that offer it. The episode also discusses the significance of framing messages in impactful ways and highlights the power of simplicity in messaging.  This episode provides valuable insights for marketers and business professionals looking to enhance their communication skills and create more impactful marketing campaigns. Whether you want to understand the psychology behind effective hype or learn practical techniques for engaging your audience, this episode is a must-listen for anyone seeking to create captivating and memorable marketing campaigns. In this episode, you will: Unleash the power of hype in your marketing to create buzz and excitement around your brand. Harness the art of storytelling to captivate your audience and make your message stick in their minds. Master the art of crafting certain messaging to build trust, credibility, and clarity in your brand communication. Learn how impactful framing can make all the difference in influencing your audience's perception and decision-making. Discover the power of simplicity in messaging to cut through the noise and ensure your marketing campaigns are memorable and effective. Show Notes: 00:00:00 - Introduction Melina introduces the episode, celebrating the milestone of 350 episodes and over a million downloads of the show. She previews the topic of hype and introduces guest Michael. 00:02:26 - The Power of Hype Michael discusses how his company, Microfame Media, helps idea-driven businesses create hype. He emphasizes the importance of understanding mass psychology and using effective strategies and tactics to generate excitement and engagement. 00:05:15 - The Hype Handbook Michael shares his inspiration for writing his book, The Hype Handbook, which explores the principles and strategies used by propaganda artists, cult leaders, and other influential figures throughout history. He explains that these principles can be applied ethically to achieve desired outcomes. 00:07:34 - Principles over Tactics Michael emphasizes the importance of understanding psychological principles rather than relying solely on specific tactics or tools. He encourages businesses to focus on what drives human behavior and use that knowledge to create their own unique hype. 00:10:09 - The Perception of Hype Melina and Michael discuss the perception of hype and why some people may view it as sleazy or empty. They explore the origins of the term in the hip hop community and how hype has been embraced as a necessary strategy for success. 00:15:01 - Make War, Not Love The first strategy discussed is "Make War, Not Love," which is the foundation for all other strategies. The conversation explores the evolutionary basis of tribalism and how it influences our preferences and biases. 00:18:25 - Positioning Against an Idea The power of positioning yourself against a commonly accepted point of view in your industry is highlighted. By becoming the leader who challenges prevailing beliefs, you can attract like-minded individuals and build a new tribe around your ideas. 00:21:35 - Basecamp's Example The founders of Basecamp transformed their project management software into a crusade against overwork culture. By positioning their tool as a solution to the problem they were fighting against, they created a loyal following and achieved success. 00:23:45 - Authenticity and Packaging It is important to be authentic and genuinely believe in the stance you take. Cynical or surface-level attempts at packaging and branding are easily recognized. The conversation emphasizes the need to find a unique strength within your weaknesses to create a compelling persona. 00:25:49 - Uniqueness and Public Persona The discussion explores the concept of creating a public persona that is a heightened version of your true self. The key is to identify a strength buried within your weaknesses and use it to stand out in your industry. 00:29:49 - Embracing Authenticity Michael shares his journey of embracing his natural people-pleasing side and how it has helped him succeed. He highlights the power of being authentic and finding strength in who you are, rather than overcompensating for perceived weaknesses. 00:31:00 - Paradox of Confidence Michael discusses the paradox of confidence and how being confident means being confident in your natural state. He emphasizes the importance of embracing your true self and finding confidence in your own abilities, rather than trying to conform to someone else's expectations. 00:32:13 - Survivorship Bias Melina brings up the concept of survivorship bias and how it can distort our perception of success. Michael emphasizes the importance of questioning the advice and strategies of successful people, as they may be presenting a curated version of themselves for marketing purposes. 00:34:49 - Uncovering Marketing Tactics Michael delves into the strategies used by successful marketers and self-help gurus. He encourages listeners to analyze the tactics being employed to persuade them to buy products or follow advice, rather than blindly following the advice itself. He suggests creating a "swipe file" of marketing techniques instead. 00:38:07 - Making It Scientific Michael discusses the importance of using scientific language and authority to establish credibility in crowded fields. He explains how presenting ideas or services as backed by scientific research can make them appear more trustworthy and authoritative. He also highlights the use of heuristics in decision-making. 00:45:00 - The Hype Handbook and Simon Sinek Michael discusses how The Hype Handbook provides valuable insights on effective communication and the power of storytelling. He highlights Simon Sinek as a master of framing messages and using repetitive slogans to captivate audiences. 00:46:14 - The Impact of Framing and Certitude Michael emphasizes the impact of framing messages in a quotable and interesting way. He also discusses the heuristic that people often associate extreme certitude with knowledge and expertise. 00:49:13 - Connecting with Knowledge Seekers Michael shares his Hype Book Club, where he recommends books on various topics, including cult leaders and social psychology. He highlights the value of curiosity and diverse learning experiences. 00:50:54 - The Power of Storytelling and Tidbits Michael discusses the importance of weaving stories together to make a point and engage readers. He emphasizes the value of storytelling in helping people remember and apply what they've learned. 00:53:01 -  Conclusion, Melina's top insights from the conversation. 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 Michael: Microfame Media Michael on Twitter Michael on LinkedIn 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: Simply Put, Ben Guttmann The Hype Handbook, Michael Schein Rework, Jason Fried The Obstacle Is the Way: The Timeless Art of Turning Trials into Triumph, Ryan Holiday Start with Why, Simon Sinek Top Recommended Next Episode: How to pitch your business Already Heard That One? Try These:  Social Proof (ep 87) Availability Bias (ep 310 Prince Ghuman Interview (344) Priscilla McKinney Interview (ep 196) What Your Customer Wants and Can't Tell You (ep 147) Negative Reviews (ep 163) The science of cool, with Troy Campbell (ep 169) David Paull (ep 289) Megaan Lurtz (ep 341) Herding: Come on and Listen… Everyone Else Is Doing It (ep 19) Framing: How You Say Things Matter More than What You're Saying (ep 16) The Overwhelmed Brain and Its Impact on Decision Making (ep 32) Overview of Personal Biases (ep 45) Survivorship Bias: Stop Missing What's Missing (ep 110) Get Your D.O.S.E. of Brain Chemicals (ep 123) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter “21 Psychology Podcasts Every Businessperson Should Listen To” Derek Sivers – “How to Start a Movement” (TED Talk) Simon Sinek – “How Great Leaders Inspire Action” (TED Talk) Simon Sinek – “Millennials in the Workplace”

In this episode of The Brainy Business podcast, you'll hear an insightful conversation between host Melina Palmer and guest Prince Ghuman, a renowned neuromarketer and author. The discussion centers around the importance of incorporating neuroscience and psychology in marketing strategies. Prince emphasizes the need for marketers to understand human behavior and behavior science in order to create more effective campaigns and improve customer satisfaction.  He discusses concepts like pattern recognition, the mere exposure effect, and the balance between novelty and familiarity. Prince also explores the adoption curve and how different consumer segments prefer varying degrees of newness and safety. By incorporating these insights into your marketing strategies, you can better connect with consumers and optimize your marketing efforts. This episode provides valuable knowledge and practical tools for marketers seeking to enhance their marketing strategies and campaigns. In this episode, you will: Discover the untapped potential of incorporating neuroscience and psychology in your marketing strategies for more effective customer engagement. Unravel the concept of NAS (new and safe) and unlock its impact on consumer preferences, positioning your brand as a trusted choice in the market. Gain a deep understanding of the adoption curve and learn how to appeal to different consumer segments, maximizing your marketing efforts for better ROI. Harness the power of pattern recognition to identify consumer preferences and create meaningful brand connections that drive loyalty and repeat business. Explore the shared responsibility of consumers and marketers in shaping the digital landscape, ensuring ethical practices that foster trust and satisfaction in the online marketplace. Show Notes: 00:00:00 - Introduction, Melina introduces the episode and welcomes Prince Ghuman as the guest. They discuss the intersection of behavioral science and marketing and Prince's background in the field. 00:02:08 - Prince's Background and Playbook, Prince shares his journey into the world of behavioral science and marketing. He discusses his experience working at startups and established corporations, as well as his transition to becoming a professor. Prince highlights the importance of neuroscience and psychology in marketing and mentions the playbook he developed over the years. 00:06:12 - Principles vs. Hard Science in Neuromarketing, Prince explains the division between principles and hard science in neuromarketing. He emphasizes the significance of understanding the principles of human behavior and psychology in marketing, even if neuroimaging is not accessible to all marketers. 00:08:23 - The Importance of Principles in Neuromarketing, Prince discusses the importance of principles in neuromarketing and how they can be applied to improve marketing strategies. He mentions the lack of emphasis on neuroscience and psychology in traditional marketing curricula and highlights the need for more practical applications of behavioral science in marketing. 00:10:00 - Applying Decision-Making Science to Marketing, Prince mentions the book Thinking, Fast and Slow by Daniel Kahneman and its significance in understanding decision-making. However, he emphasizes the need for tactics and practical applications of decision-making science in marketing and customer experiences. He envisions a future where neuromarketing principles are integrated. 00:15:00 - Evolution of Marketing and A/B Testing, The conversation begins with a discussion about the evolution of marketing and the use of A/B testing. The guest emphasizes the importance of understanding the psychological underpinnings behind marketing strategies and conducting more scientifically informed tests. 00:16:30 - Why We Like What We Like, The guest introduces the concept of the mere exposure effect, which states that the more we are exposed to something, the more likely we are to prefer it. They also discuss the idea of "new and safe," where people are attracted to things that are both novel and familiar. Understanding this concept can help brands come up with better product tests and launch strategies. 00:18:16 - The Psychological Context of Product Adoption, The guest explains how the psychological context of product adoption is often overlooked. Early adopters are more accepting of imbalances between new and safe, while late adopters prefer safety. Understanding this can help brand managers tailor their launch strategies and target different segments of the market. 00:21:14 - Using Familiarity and Novelty in Product Launches, The guest uses the example of Oreo cookies to illustrate how brands can incorporate familiarity and novelty to attract mass market appeal. By sandwiching a new flavor between familiar elements, brands can grab attention and break through established patterns, even if the new flavor itself doesn't sell well. 00:24:34 - Pleasure in Pattern Recognition, Prince addresses a question about why humans derive pleasure from pattern recognition. 00:29:31 - The Use of Game Mechanics in Engagement, The guest talks about how game mechanics are being used across various genres of games to increase engagement. He gives examples of sports games like NBA, soccer, FIFA, and NFL, as well as board games like Monopoly. Unpredictability is a key factor in increasing engagement, and this is seen in social media apps like Facebook, Instagram, and TikTok, where users are constantly scrolling to see what comes up next in their feed. 00:30:46 - Engagement 2.0 and Compulsive Behavior, The guest discusses how engagement in digital products, like social media apps, can lead to compulsive behavior. The unpredictability of what comes next on these platforms keeps users engaged and scrolling. He emphasizes that engagement is only a few steps away from compulsive behavior and explains why some apps have come under fire for exploiting this. 00:34:57 - The Role of Users in Data Science and Behavior Modeling, The guest points out that while tech companies are often criticized for using data science unethically, users also play a role in this behavior modeling. He suggests that consumers need to be willing to pay for digital products and services if they want to see a change in the way data science is used. He compares it to the organic food movement, where consumers demanded and paid a premium for healthier options. 00:36:27 - Marketers' Responsibility in Understanding Neuroscience, The guest emphasizes the importance for marketers to understand neuroscience and psychology in order to create better products and experiences for consumers. 00:43:10 - Importance of Understanding Your Customers, Understanding your customers' goals and communication preferences is crucial in business. Avoid comparing yourself to others and focus on meeting your customers' needs. This is the foundation of Melina Palmer's book What Your Customer Wants and Can't Tell You. 00:43:37 - Conclusion, Melina's top insights from the conversation. 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 Prince:  Follow Prince on LinkedIn  Follow Prince on Twitter  PopNeuro website 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: Blindsight, by Prince Ghuman and Matt Johnson Neurobranding, by Peter Steidl Thinking, Fast and Slow, by Daniel Kahneman Crossing the Chasm, by Geoffrey Moore The Tipping Point, by Malcolm Gladwell Top Recommended Next Episode: Neuroscience and Behavioral Economics, with Matt Johnson (ep 160) Already Heard That One? Try These:  Indistractable, with Nir Eyal (ep 290) The Life-Saving Skill of Story, with Michelle Auerbach (ep 288) A More Beautiful Question, with Warren Berger (ep 200) Branding That Means Business, with Matt Johnson (ep 231) Disney: A Behavioral Economics Analysis (ep 292) Availability Bias (ep 310) Familiarity Bias (ep 149) Relativity (ep 12) Get Your DOSE Of Brain Chemicals (ep 123) Habits (ep 256) The Power of Habit (ep 22) Non-Obvious Thinking with Rohit Bhargava (ep 297) Surprise & Delight (ep 276) McDonalds' Irrational Loyalty Program (ep 279) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter We Asked: Why Does Oreo Keep Releasing New Flavors?

In this episode of The Brainy Business podcast, host Melina Palmer dives into the fascinating world of behavioral economics and its application in Peloton's marketing success. As a marketing expert, Melina understands the importance of effective messaging and branding strategies, and she shares her insights on how Peloton has leveraged behavioral economics concepts to create a strong connection with their target audience.  She explores the power of storytelling, community-building, and framing offers in a way that resonates with customers. Melina also discusses the impact of social proof, herding, and anchoring in Peloton's advertising and business strategies. If you're a marketer or business owner looking to enhance your branding and advertising strategies, this episode is a must-listen. Melina's expertise and analysis of Peloton's success will inspire you to apply behavioral economics principles in your own marketing efforts and build a loyal customer base. In this episode: Enhance your branding and advertising strategies by applying behavioral economics concepts for a Peloton-like success. Discover the importance of aligning your messaging with your target audiences for more effective advertising. Uncover the power of storytelling and community-building to create a strong brand identity and engage customers. Learn how to leverage social proof and herding to enhance motivation and engagement within your community. Understand the impact of ad controversy and mixed messaging, and how to avoid it in your own advertising campaigns. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces the podcast episode and explains the purpose of the Behavioral Economics Analysis series. She emphasizes the importance of understanding how companies apply behavioral economics concepts and provides ideas for implementing them in one's own business. 00:03:49 - Background on Peloton, Melina provides an overview of Peloton, a fitness company that sells workout equipment and offers streaming classes. She shares statistics on the company's membership, workout completion, and revenue. She also mentions the controversy surrounding a Peloton holiday ad and the mixed messaging in the company's marketing. 00:07:21 - Mixed Messaging in Peloton's Marketing, Melina discusses the issue of mixed messaging in Peloton's marketing. She explains that while the company aims to be inclusive, their ads primarily target wealthy individuals. This creates a disconnect with their message of building a community accessible to everyone. She suggests that Peloton should align their marketing with their target audience more clearly. 00:09:52 - Inclusivity vs. High-Income Targeting, Melina discusses the two paths Peloton could take in their marketing strategy: inclusivity or targeting high-income individuals. She emphasizes the importance of clarity and consistency in messaging and highlights the need for proper context in ads to avoid negative interpretations. 00:11:10 - Importance of Providing Context in Ads, Melina stresses the importance of providing context in ads, especially when it comes to sensitive topics like health and fitness. Without proper context, viewers may fill in the gaps. 00:15:07 - Utilizing Stories and Community in Advertising, Peloton has a wealth of stories and people that can be used in advertising to inspire others and promote the brand. They should engage their community and ask for stories to feature. 00:17:38 - Potential Benefits of Controversial Advertising, While Peloton received backlash for their controversial ad, it brought awareness to the brand and the problem they solve. Seeing the ad everywhere can increase focus on the company and prompt people to learn more. 00:19:55 - Peloton's Pricing Strategy, Peloton offers an expensive product, but they make it easier for customers to try with a 30-day trial and financing options. The 94% stay rate at the twelve month mark shows that once people have the equipment, they are likely to continue using it. 00:21:28 - Access to Content and Reciprocity, Peloton's monthly membership fee gives access to high-quality content, creating a sense of reciprocity. They bundle offers without discounting, providing additional benefits for customers who buy the bike or treadmill. 00:26:22 - Structuring Choices for Customer Satisfaction, Peloton structures their choices by allowing users to easily search and filter for classes based on their preferences. They have ten main categories to start with and provide recommended rides based on users' preferences. 00:31:08 - Herding and Social Proof on Peloton, Peloton's use of herding and social proof enhances the community experience, with features like showing how many people have taken a class before, following other users, and rating classes. This creates a sense of community without the awkwardness. 00:32:29 - Framing and Tracking Progress, Peloton's instructors guide users on what numbers to focus on during workouts, emphasizing resistance and cadence. By framing what matters and providing robust stats, Peloton makes it easy to track progress and strive for improvement. 00:35:45 - Incorporating Social Proof, Peloton creates a sense of community by incorporating social proof, such as calling out names and profiles of people hitting milestones during live workouts. Badges, achievements, and virtual high fives further enhance the feeling of being part of a larger community. 00:40:06 - The Impact of "I See You", Peloton's instructors use the phrase "I see you" when giving shout outs, creating a personal and inclusive atmosphere. This subtle phrasing adds to the social proof and makes users feel like part of a big family. Anchoring and commitments also help form good habits and keep users motivated. 00:46:20 - Key Takeaways from Peloton's Advertising Strategy, Key takeaways from Peloton's advertising strategy include knowing your target market, using real stories from your community, and making complex offerings easy for users. Context and storytelling are important, as well as anchoring and social proof to create a sense of community and connection. 00:47:46 - Importance of User Experience and Choice Structure, The user experience is crucial, especially when it comes to structuring choices. Making it easy for users to navigate and personalize their experience is key, particularly for those trying to change habits. Defaults and remembered settings can help facilitate this process. 00:48:28 - Anchoring and Social Proof for Building a Community, Anchoring with big numbers helps show what's possible and move people beyond their initial expectations. Social proof is essential for creating a sense of community, whether it's through personalized shoutouts or highlighting the presence of a larger community. 00:49:42 - Pricing Strategies and Knowing Your Audience, Pricing doesn't always have to be about discounts. Understanding your audience's mindset and what matters to them can help in setting prices. Not every business is for every person, and it's okay if some people don't resonate with your pricing. 00:51:52 - Personalized Virtual Experiences and the Potential for Business Growth, Peloton's ability to create a personalized virtual experience highlights the potential for businesses to offer virtual services with a subscription or membership model.  00:53:24 -  Conclusion, Melina's top insights from the conversation. 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 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 Purpose, by Gina Bianchini What Your Customer Wants and Can't Tell You, by Melina Palmer Atomic Habits, by James Clear Engaged, by Amy Bucher Top Recommended Next Episode: The Science of Subscriptions and Membership Models (ep 105) Already Heard That One? Try These:  Costco: A Behavioral Economics Analysis (ep 47) Disney: A Behavioral Economics Analysis (ep 292) Starbucks: A Behavioral Economics Analysis (ep 278) Apple Card: A Behavioral Economics Analysis (ep 42) Availability Bias (ep 310) Framing (ep 296) How to Stack and Bundle Products and Services To Sell More (ep 84) How to Raise Your Prices (ep 77) Reciprocity (ep 238) Structuring Complex Choices: The “S” in NUDGES (ep 41) Herding (ep 264) Anchoring & Adjustment (ep 11) Habits (ep 256) How to Get (and Stay) Motivated (ep 67) The Network Effect (ep 262) Creating a Habit of Curiosity with Pique (ep 119) Precommitment (ep 120) Get Your DOSE Of Brain Chemicals (ep 123) Good Habits, Bad Habits with Wendy Wood (ep 127) Find Your Purpose, with Gina Bianchini (ep 263) Surprise & Delight (ep 276) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter The real lesson your credit union should learn from Peloton's ad flop (it's not what you think) The Gift That Gives Back | Peloton Bike Commercial Peloton Investor Relations Peloton's nightmare before Christmas: $1.5 billion vanished from its market value in 3 days amid holiday ad backlash

BEHAVIORAL FINANCE SERIES: AVAILABILITY BIAS FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and special guests Tyler Kluge | CFP®, CPWA®, CDFA®, CEPS Financial Planner, BWFA Joseph DePatie | CFA,... Read More The post EP34: Behavioral Finance Series: Availability Bias – 10.27.23 first appeared on Baltimore Washington Financial Advisors. The post EP34: Behavioral Finance Series: Availability Bias – 10.27.23 appeared first on Baltimore Washington Financial Advisors.

“Ekonominin temeli, hatta tüm sosyal bilimlerin temeli, görülüyor ki psikolojidir." -Vilfredo Pareto, 1909Selam fularsızlar. Çok sevdiğim bir konuya geldik, teknik olarak "Yaz Kursu" serisinin devamı ama kendi başına da düşünülebilir. 70'lerden beri hayatımızın her yönüne etki eden davranışsal ekonominin (aslında tüm ekonomi zaten davranışsaldır) ortaya çıkışına ve Kahneman'ın öncülük yaptığı ilk deneylere bakıyoruz: Sınırlı akılcılık, bulunabilirlik, çapa, kayıptan kaçınma, sahiplik, tüm bu etkilere kısaca bakacağız, 1980'lere gelince duracağız. Zira sonraki bölümün farklı kahramanları olacak. Tüm kaynaklar aşağıda her zamanki gibi, patronlarıma patroniçelerime teşekkürler, hepinize iyi Pazarlar!.Konular:(00:05) 5000 yıllık kayıp aranıyor ilanı(05:23) Tüm ekonomi davranışsaldır(08:33) Neoklasik Ekonomi(09:49) Pesto maceram (Sınırlı Akılcılık / Bounded Rationality)(13:44) K ile başlayan harfler (Bulunabilirlik Eğilimi / Availability Bias)(16:09) Dünyanın en uzun ağacı (Çapa Etkisi / Anchoring)(21:08) Ek garanti almayın! (Prospect Theory ve Kayıptan Kaçınma / Loss Aversion)(25:08) Bu fincanı kaça satarsın (Sahiplik Etkisi / Endowment Effect)(26:18) İrrasyonellik?(27:50) Patreon kodamanlarına teşekkürler.Kaynaklar:Video: the entire history of behavioral economicsVideo: Richard Thaler on Behavioral Economics: Past, Present, and Future.Makale (PDF): Adam Smith, Behavioral EconomistMakale: Bargains and Ripoffs (1977)Makale: Availability: A heuristic for judging frequency and probability (1973)Makale (PDF): Judgment under Uncertainty: Heuristics and Biases (1974)Makale (PDF): Prospect Theory: An Analysis of Decision under Risk (1979)------- Podbee Sunar ------- Bu podcast Salus hakkında reklam içerir.Sağlığınıza gereken önemi Salus'la verin. Psikolog, fizyoterapist ve diyetisyenlerle görüşüp, içerik dünyasını keşfetmek için buradan Salus'un websitesini ziyaret edebilirsin. TERAPI10 koduyla %10 indirimden hemen faydalanmak için şimdi buradan app'i indirebilirsin.Bu podcast TAKK hakkında reklam içerir.Günlük kişisel bakımını TAKK'a bırak. Çünkü TAKK, senin için gerçekten önemli olan şeylere odaklanırken hayatındaki seçenek karmaşasını filtrelemene yardımcı olur. Buradan TAKK'ı keşfedebilirsin.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A company's success nowadays is so reliant upon pitching–whether you are looking to land a new client or get quoted in the media. Having a credible source say positive things about you and your company can be pivotal when it comes to whether your brand is going to be seen or not. That is exactly why this episode of The Brainy Business is dedicated to giving you some concise tips on how to use behavioral economics to pitch your brand. Pitching yourself can feel awkward, but when you understand the brain science it doesn't have to be, especially if you follow Melina's tips! In this episode, Melina Palmer discusses different brain biases such as social proof, authority bias, familiarity bias, and availability bias. Availability bias gets a big focus because it is one of the most critical to pitching success. You can take advantage of it by predicting and paying attention to trends and finding a way to offer people a fresh perspective on them. The episode closes with three key points to keep in mind when pitching: (1) keep it short (2) be happy with your language and (3) follow directions. This is just scratching the surface of what you'll get in this episode, one of the top 10 downloaded episodes of The Brainy Business of all time. Listen now to learn how to use behavioral economics to successfully pitch yourself and your business… In this episode: Gain knowledge on crafting compelling business pitches that seize opportunities. Unearth techniques to fight self-doubt, imposter syndrome, and potential slants in your business pitches. Learn how to leverage social proof to boost business credibility, attracting a wider customer base. Learn to spot niche perspectives and fresh ideas that attract media attention for your business. Understand why it is important to plan ahead much further than you think is necessary, with tips for how to get started immediately. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces the episode, which focuses on how to successfully pitch your business. She mentions that pitching can be uncomfortable and discusses the brain biases that often hold people back from pitching themselves. 00:03:12 - Overcoming Biases and Procrastination, Melina acknowledges that pitching oneself can be challenging and discusses how various brain biases, such as imposter syndrome and the focusing illusion, can hinder the pitching process. She encourages listeners to focus on the positive aspects and prioritize pitching as a goal. 00:08:27 - The Importance of Pitching, Melina explains the three main benefits of pitching the media: social proof, familiarity bias, and availability bias. She emphasizes the value of social proof and how being featured in the media can enhance credibility and trust in your brand. 00:11:50 - Availability Bias, Melina delves into the concept of availability bias and its relevance to pitching. She provides examples, such as flood insurance and crime rates, to illustrate how frequent exposure to certain topics can skew our perception of risk and importance. 00:15:18 - The Power of a Unique Perspective, Having a unique perspective can help you stand out in the media. By offering a fresh angle on a popular topic, you can become the go-to expert in your field. Melina shares a real-world example of how a handwriting expert found success by providing insights on the signatures of Prince William and Kate Middleton before their wedding. 00:17:01 - Reporters are People Too, Overcoming the fear of pitching reporters is crucial. They are just people doing a job and are constantly in need of content. By understanding their needs and offering valuable insights, you can become their solution and build a positive relationship with them. 00:18:35 - Finding Your Unique Perspective, To find your unique perspective, look at upcoming events, trends, and topics in various fields. Even if it seems unrelated to your work, there may be a niche you can carve out for yourself. By thinking outside the box, you can offer valuable insights on seemingly random topics. 00:19:44 - The Importance of Personalized Pitches, Sending generic pitches to reporters is ineffective. It's essential to do research and understand what each writer and/or outlet covers. By personalizing your pitches and showing how your expertise aligns with their audience's interests, you increase your chances of being featured in the media. 00:26:42 - Using Help a Reporter Out (HARO), HARO is a free service that connects reporters with expert sources. Signing up for HARO and responding to relevant inquiries is a great way to start getting some media coverage because it isn't a cold pitch. 00:30:10 - Tips for Pitching, Melina summarizes her tips for pitching, emphasizing that these tips can be applied to pitching anything, not just traditional news media. She advises deciding if pitching is a main goal for your business, making a list of top outlets and reporters, and practicing looking at trending topics or events. She also encourages getting out of your own way and just starting, even if it feels scary. 00:31:42 - Pitching as an Achievable Task, Melina reassures listeners that pitching is achievable and encourages them to realize their story's potential. She highlights the various opportunities for pitching, whether it's for publications, clients, promotions, or projects. Melina emphasizes the importance of taking initiative and making your own opportunities. 00:32:34 - Conclusion, Melina's top insights from the conversation. 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 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: Influence, by Robert Cialdini What Your Customer Wants and Can't Tell You, by Melina Palmer You're Invited, by Jon Levy The Hype Handbook, by Michael F. Schein The Speed of Trust, by Stephen M.R. Covey Top Recommended Next Episode: Availability Bias (episode 310) Already Heard That One? Try These:  Priming (ep 252) Framing (ep 296) Herding (ep 264)How To Set, Achieve, and Exceed Brainy Goals (ep 70) Familiarity Bias (episode 149) Confirmation Bias (episode 260) Optimism Bias (episode 34) Social Proof (episode 87) Reciprocity (episode 238) Herding (episode 19) Focusing Illusion (episode 330) Prefactual Thinking (episode 232) Bikeshedding (episode 99) Survivorship Bias (episode 110) Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (episode 157) Magic Words, with Jonah Berger (ep 301) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter HARO – Help A Reporter Out Certificate in Applied Behavioral Economics at Texas A&M

Understanding cognitive biases can inform marketing and advertising strategies in businesses. Availability bias causes individuals to rely on immediate information, which is easily accessible, instead of thorough research. If it comes to mind easily, we think it is more true or likely than if it doesn't come to mind as easily. Of course, that isn't always the case. Availability bias can deeply influence decision-making processes both within a company and for its customers. For businesses, understanding this bias can provide pivotal insights about consumer behavior--one great way to use this, which host Melina Palmer discusses in detail throughout the episode, is in pitching your business and getting PR. During the podcast, Melina vividly illustrates the concept through examples, such as the typically contrasting associations with the words "shark" and "cow." She points out that these associations are borne out of the easily available information about these animals, rather than a comprehensive understanding of their respective behaviors. (Which do you think is more deadly? If you said a shark...you're in for a surprise!) Understanding availability bias and how it can be leveraged is essential for business owners and marketers to craft strategies that share the right message at the right time. In this episode: Unlock insights into availability bias and its impact on decision-making. Hear some fun examples -- like, should you be more scared of sharks or cows? -- that will show how your own mind is tricking you regularly. Learn why you should be following trends (and predicting them) so you communicate the right messages at the right time. Hear the fascinating story of the diamond industry and how they used availability bias to shape the narrative. Find out what HARO is, and how it can help your business to gain visibility along with availability bias. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces the episode and explains that availability bias is one of her favorite concepts from behavioral economics. She mentions that availability bias is the tendency to judge the likelihood of something happening based on how easily examples come to mind. 00:01:10 - Importance of Availability Bias, Melina explains that availability bias is important because it affects our perception of risk and influences our decision-making. She gives examples of how availability bias can impact our view of certain events or situations. 00:09:06 - Swapping Out Questions, Melina discusses how our brains often swap out difficult or unfamiliar questions with easier ones (known as satisficing). She uses the example of solving a complex math problem and how our brains substitute it with a range of possible numbers instead. This swapping out can lead to / go hand-in-hand with availability bias. 00:11:21 - Impact of Stories and Personal Experiences, Melina explains that stories and personal experiences have a significant impact on availability bias. Our brains are more likely to remember and be influenced by vivid examples and stories rather than statistics or abstract information. 00:14:01 - Applying Availability Bias in Business, Melina advises businesses to be mindful of availability bias when developing their strategies. She emphasizes the importance of using social media as a tool to support other business objectives rather than relying solely on it for monetary gain. (Will 1 million YouTube downloads a month make you rich?) 00:18:00 - How Our Brains Associate Information, Our brains associate information in very literal ways. Melina shares examples of travel to Norway increasing dramatically because of a cartoon, and skyrocketing sales in Mars bars when the Mars rover was in the news. Aligning your business with popular topics can help boost your visibility and engagement. 00:19:07 - Being Aware of Trends, Stay aware of what's trending in social media, news, and pop culture. Find ways to connect your business to these trends and get associated with what people are talking about and searching for. Especially in areas that may seem unrelated (more on that as we go). 00:20:46 - The Power of Rose Gold, Rose gold has become a popular trend, and businesses that offer products in this shade can attract customers who are actively seeking it. By using scarcity and availability, you can create a buzz and fuel interest in your offerings. If rose gold isn't cool anymore by the time you are listening to this – or not aligned with your brand – what is the new “it” color? What is the Pantone color of the year, for example? 00:23:50 - Making Your Own Luck, Instead of waiting for opportunities to come your way, actively seek ways to connect your business to current conversations and trends. Look for unique and unexpected angles that can make you stand out from the crowd. 00:26:19 - Combinatorial Thinking, Combining seemingly unrelated ideas or concepts can lead to innovative and novel solutions. Don't limit yourself to obvious connections; think outside the box and explore new possibilities for your business. 00:37:36 - The Success of the Diamond Advertising Campaign, The advertising agency reported impressive results in its campaign, with diamond sales increasing by 55% in the United States from 1938 to 1941. The campaign focused on the emotional value of diamonds and created a new form of advertising that has been widely imitated. 00:38:48 - The Impact of De Beers' Advertising, De Beers continued to innovate its advertising approach, creating the "Diamonds are Forever" line in 1947 and utilizing television and a diamond information center. They even changed marriage traditions in Japan to incorporate diamond engagement rings. De Beers' advertising efforts led to a significant increase in diamond sales and a 100-fold increase in sales value by 1979. 00:42:12 - Importance of Research and Timing, De Beers understood the importance of solid research and finding new ways to reach consumers. They leveraged the popularity of influential figures, such as the royal family, to increase interest in their products.  00:44:04 - Conclusion,  Melina's top insights from the conversation. 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 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: Contagious, by Jonah Berger Magic Words, by Jonah Berger A More Beautiful Question, by Warren Berger Thinking Fast and Slow, by Daniel Kahneman The Hype Handbook, by Michael F. Schein Top Recommended Next Episode: How to Successfully Pitch Your Business (ep 177) Already Heard That One? Try These:  Anchoring & Adjustment (ep 11) Relativity (ep 12) The Truth About Pricing (ep 5) Priming (ep 252) Framing (ep 296) Herding (ep 264) Social Proof (ep 87) Scarcity (ep 270) Questionstorming, with Mars (ep 215) The Life-Saving Skill of Story, with Michelle Auerbach (ep 288) Behavioral Storytelling, with David Paull (ep 289) Non-Obvious Thinking, with Rohit Bhargava (ep 297) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Cows Are Deadlier Than You Ever Knew Human Shark Bait In the War Between Sharks and People, Humans Are Killing It Why ‘Success' on YouTube Still Means a Life of Poverty Frozen Has Massively Increased Tourism to Norway Rose gold: The fashion trend that just won't go away HARO Have You Ever Tried to Sell a Diamond? The ‘Oprah effect:' Does everything she touch turn to gold?

In this episode of the Awareness to Action Enneagram podcast, Mario Sikora, María José Munita and Seth "Creek" Creekmore continue their mini-series on critical thinking and discuss availability bias. They explain how availability bias shapes the way we think and why it's important to know about it. They also discuss fundamental attribution error and what is helpful about drawing conclusions.“Everything that we do that involves thinking in any way is enhanced by understanding how the mind works.” -Mario [01:04]“When we are used to seeing certain things, they're more available to us, we tend to think that that's what we're seeing.” -María José [04:55]“Availability bias could be they just don't have the data available to know how to push further into and refine what it is that they're teaching.” -Creek [05:07]TIMESTAMPS[00:01] Intro[01:48] What is availability bias[06:54] Fundamental attribution error[10:57] OutroConnect with us:Awareness to ActionEnneagram on DemandIG: @ataenneagramMario Sikora: IG: @mariosikoraWeb: mariosikora.comPod: Enneagram in a MovieMaria Jose Munita: IG: @mjmunitaWeb: mjmunita.comSeth "Creek" Creekmore: IG: @_creekmorePod: Fathoms | An Enneagram PodcastPod: Delusional Optimism

Eskom's Energy Availability Factor a week ago was 56.3%, a long way from where Eskom and the government keep telling it is or jolly well should be. The cold plays havoc with good intentions and the result seems to be a spiralling diesel bill. Who is paying it?, asks Peter Bruce in this edition of Podcasts from the Edge. The bigger question is this: The democratic state bounced back from a deep apartheid-induced recession after 1994. Can it do it again now? Is the state strong enough? Are the skills still there? Why are we waiting?

On this episode of Brainfluence, we explore how behavioral science can be utilized in both B2C and B2B marketing. Guest Nancy Harhut shares how campaigns that focus on emotional impact over product features can increase purchase intent. Video, text, and resources: https://www.rogerdooley.com/nancy-harhut-behavioral/ We also discuss information gap theory and how marketers can use it to pique interest, availability bias, and autonomy bias. We dive into how giving people choices can increase the likelihood of a buying decision, and how the use of the word "because" can increase compliance. In addition, we cover temporal landmarks, guiding customer choice, and the importance of coming off as engaged and interested in clients' work. Join us as we dive into these fascinating behavioral science principles and their applications in marketing. [00:00:00] Intro [00:00:44] Acceptance of Behavioral Science in Marketing [00:01:20] Skepticism in B2B Marketing [00:06:04] Autonomy Bias in Marketing [00:06:42] The Power of Choices [00:10:05] Temporal Landmarks and Discounting [00:12:36] Retirement Age Progression Tool [00:14:07] Information Gap Theory [00:18:17] Availability Bias [00:18:53] Availability Bias [00:21:18] Overcoming Bias in B2B Purchases [00:24:08] Automatic Compliance Triggers [00:24:43] The Power of "Because" [00:25:26] The Credibility of Charts and Graphs [00:27:39] Using Behavioral Science Principles in Marketing Nancy Harhut is the Chief Creative Officer at HBT Marketing. She specializes in blending creative with decision science to prompt responses and has spoken at industry conferences around the world. Prior to co-founding HBT Marketing, she held senior creative management positions with Hill Holliday, Mullen, and Digitas, and has won over 175 awards for digital and direct marketing effectiveness.

Check out part 1 here: "Intro To Cognitive Biases"

Check out part 1 here: "Intro To Cognitive Biases"

In today's conversation, I am joined by Dr. Merle van den Akker. Merle is a behavioral scientist who has recently completed a Ph.D. at the Warwick Business School, studying the effect of different payment methods on personal finance management. She decided to leave academia to apply behavioral insights in the real world and has become a behavioral science manager at a financial well-being unit in an Australian bank. She continues to research and apply behavioral science to improve financial services and consumer (financial) well-being. Next to this, Merle is a science communicator, running the blog Money on the Mind, and the MoneyPsychologist TikTok account, where she disseminates insights from the intersection of behavioral science and personal finance. Last, to not leave academia behind fully, Merle also still teaches behavioral science as well as courses on fintech developments at top Australian universities. Merle was also a finalist for Content Person of the Year in the Habit Weekly Awards in 2022 along with myself and many other amazing content creators in the space including next week's guest who won the award last year. In today's conversation, we are talking about personal finance – both for individuals and how it applies to any business. Stress at home can impact performance at work, and there are some ways businesses can be helping their employees feel more comfortable -- and do better work -- if they are thoughtful about personal finances and what is going on in the world around them. Even if your company doesn't believe it is impacted by inflation or the massive layoffs that have been happening recently...think again. Merle and I dig in on how social media and other availability-bias- and herding-fueled messaging is impacting everyone, and what companies can be doing to help their employees to feel more secure and less stressed. Show Notes: [00:42] In today's conversation, I am joined by Dr. Merle van den Akker. Merle is a behavioral scientist who has recently completed a Ph.D. at the Warwick Business School studying the effect of different payment methods on personal finance management.  [02:21] Stress at home can impact performance at work and there are some ways businesses can help their employees feel more comfortable and do better work.  [04:34] Merle shares about herself, her background, and the work she does. She runs the Money on the Mind blog, where she writes about how behavioral science applies to personal finance.  [06:42] Spending on a credit card is incredibly different than spending with cash.  [07:37] With contactless payments, people tend to spend a bit more and then they actually have a much worse recall of what they spent.  [09:32] Mental accounting is expenditure and research tracking in your head.  [11:51] It is important to ask thoughtful questions in business and research.  [14:25] You have a mental and a physical account for savings and your credit whether you are in debt or not.  [16:54] Behavioral science can contribute positively to the cost of living crisis in major ways. When people act out of fear they don't make great decisions.  [18:54] Learned helplessness is a very dangerous state to get into. You need to be able to get into a mindset where you are still able to act.  [21:50] Having too much pressure on people's time is impacting their ability to do really good, thoughtful work.  [24:28] The present bias is a very inconvenient bias and is something you should be aware of.  [27:31] As an employee, it is important to know what would and would not work and ask for that from your employer. An employer should be open and expectant to have these conversations.  [30:36] There can be more thoughtful and creative solutions for ways employers can help that don't cost them a lot of money.  [32:45] You can help be a solution for customers and employees by having this overall awareness of what is happening in the world and how that is going to be impacting behavior.  [34:09] If your brain is in overload the last thing it wants is ambiguity.  [35:42] You don't want people to act out of fear because they will make decisions that don't benefit anyone in the long run. That is something we should really try to avoid.  [37:53] Social media algorithms give you more of what you show interest in. Something may feel like it is everywhere, when in reality the algorithms are just showing it to you a lot.    [39:46] Always take the time in stressful moments to breathe and get out of that hot state to look and see what you can do differently.  [41:01] It is a win-win situation to have employees that are not just cowering under an enormous load of stress and fear and as a result being rendered almost nonfunctional.  [42:34] Melina's closing thoughts. [43:01] If you focus on helping your people with more aspects of their lives then just what feels immediately relative to your bottom line can have really great impacts financially and otherwise.  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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! 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: Nudge, by Richard Thaler and Cass Sunstein What Your Customer Wants and Can't Tell You, by Melina Palmer Scarcity, by Sendhil Mullainathan and Eldar Shafir  Subtract, by Leidy Klotz The Power of Scarcity, by Mindy Weinstein Connect with Merle:  Money on the Mind Merle on Twitter Merle on LinkedIn Top Recommended Next Episode: Common Errors in Financial Decision Making with Dr. Chuck Howard (ep 213) Already Heard That One? Try These:  The Pain of Paying (ep 240) Hindsight Bias (ep 167) Time Discounting (ep 51) Common Errors in Financial Decision Making with Dr. Chuck Howard (ep 213) How To Set Up Your Own Experiments (ep 63) Mental Accounting (ep 282) That Time I Went Viral… with Dr. Daniel Crosby (ep 212) Survivorship Bias (ep 110) Herding (ep 264) Availability Bias (ep 15) Time Pressure (ep 74) The Overwhelmed Brain and Its Impact on Decision Making (ep 32) Loss Aversion (ep 9) Past, Present, and Future Biases  (ep 246) Expect Error: The "E" in NUDGES (ep 39) Give Feedback: The "G" in NUDGES (ep 40) Ambiguity Aversion (ep 243) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Learned Helplessness Invest now, drink later, spend never: On the mental accounting of delayed consumption

In this episode we explore the thinking problem known as 'availability bias'. Availability bias is the tendency to pay more attention to - and give more credence to - information that springs to mind quickly.KEY TAKEAWAYSOur memories are more fallible than many of us realise. For the vast majority of us, enduring episodic memories are only formed for events that have a strong impact on us.We also discuss the error of 'substitution' - the tendency to subconsciously reframe a difficult question so that we're answering something subtly different to the question we were asked.LINKSInterested to learn more about how our memory works? Check out the fascinating book 'Remember' by Lisa Genova.WHAT TO DO?Remember that your memory isn't always reliable (which given your memory's weaknesses might be hard to do!!) Just because a 'fact' or an incident jumps into your mind, that doesn't mean it is the most accurate or useful information to support a judgment or decision.IN OUR NEXT EPISODE...In our next episode we examine the unusual tendency towards 'hindsight bias'. You'll find it fascinating - just remember we told you so :)For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

Today's episode is all about herding. We humans are a herding species, just like cows and sheep and guppies, and this has a big impact on our behavior. We are tribal and we look to others to help us stay safe and make good decisions. Or, at least, what our subconscious tells us is a good decision. :) This is why things like testimonials are so important.  Herding has a dedicated chapter in my first book, What Your Customer Wants and Can't Tell You because they are so important for businesses to understand.  The reason I chose to refresh this episode is because of the guest who is joining me this coming Friday, Nick Epley. We talk about the importance of social connection and why we often don't do the things that will help us to be happier because we perceive them as being uncomfortable or awkward or against the social norms in the moment.  In the business context, imagine how much value could come from having a simple chat with your colleagues or people at a conference. Most people probably stick to their groups where they are already comfortable and don't strike up a conversation, but what could happen if you did? There is a lot of value in breaking from the herd and having that conversation, even for less than a minute, which we will talk about more on Friday when episode 265 with Dr. Nick Epley comes out. And as you listen today, I encourage you to reflect on all the times you thought about striking up a conversation or asking a question and didn't. What aspects of herding made you feel like you shouldn't and what can you do in the future to engage with others more? It is valuable for you both professionally and personally, I promise. Show Notes: [00:39] Today's episode is all about herding. We humans are a herding species, just like cows and sheep and guppies, and this has a big impact on our behavior. [02:21] In the business context, imagine how much value could come from having a simple chat with your colleagues or people at a conference. [04:07] Humans herd in the same way as other species for most of the same reasons. The main reason animals herd is for protection.  [05:41] Herding is in our nature.  [08:02] Herding helps us learn by observation. Watching where others go and following the group keeps you safe.  [09:38] As humans have evolved, herding behavior has not always served us well. Herding is there to protect individuals, not the group or a complex society as a whole.  [11:41] We choose restaurants by online reviews and crowdedness. We think the people must know something we don't.  [12:58] People are more likely to leave tips when others have done it.   [15:51] Herding mentality is much more likely to come out when people feel vulnerable or are unsure of themselves.    [17:23] It is better to be conventionally wrong than unconventionally right.  [18:58] Studies have shown that up to 75% of participants will give an answer they know is wrong to go with the group.  [21:07] When everyone follows the herd and doesn't take the time to do their own research stocks or companies get artificially inflated by the confidence of others.   [23:42] Crypto is absolutely impacted by the herd mentality.  [24:16] Always beware if your brain is making you feel anxious to take steps and do something just because everyone is doing it or having your FOMO triggered in a way that makes you want to do less research before investing your time, energy, or other resources.   [27:48] People like to be part of the group and this is increased when the other people in the group are comparable and more like you.  [28:14] Whatever your business does, you are in the business of solving problems. The only reason people buy anything is to solve a problem.  [30:52] Being in a group makes us feel safe and happy because of this release of oxytocin. When we are not part of the group, our brains do whatever they can to get that bliss feeling back by seeking out more group relationships to help us feel safe and warm.  [33:28] while we can't change our natural tendency to herd, you do have options to change your behavior.  [34:28] Understanding what will trigger herd mentality in your customers for both good and bad can help you to message better and more effectively.  [36:52] If you really care about starting a movement, have the courage to follow and show others how to follow. When you find a lone nut doing something great, have the guts to be the first one to stand up and join in.  [37:09] Melina's closing thoughts [40:52] Be thoughtful with the numbers you put out into the world, and consider the herding implications for what you want people to do in the long run. [41:59] Consider how social norms and herding instincts may keep you from having conversations with other people.  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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! 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: Influence, by Robert Cialdini What Your Customer Wants and Can't Tell You, by Melina Palmer How Customers Think, by Gerald Zaltman The Power of Us, by Jay Van Bavel and Dominic Packer You Have More Influence Than You Think, by Vanessa Bohns Top Recommended Next Episode: Social Proof (ep 87) Already Heard That One? Try These:  Framing (ep 16) Priming (episode 18) Get Your D.O.S.E. of Brain Chemicals (ep 123) Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (ep 157) Unity (ep 216) The Power of Us with Dr. Dominic Packer (ep 178) You Have More Influence Than You Think, Vanessa Bohns (ep 197) Unlocking The Secrets Of The Brain (ep 1) Unlocking the Power of Numbers (ep 17) Availability Bias (ep 15) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Poll: Despite Record Turnout, 80 Million Americans Didn't Vote. Here's Why 6 in 10 Americans don't have $500 in savings Presidential Election Voting  Human Herding: How People are Like Guppies The Unwisdom of Crowds Herding, social influence and economic decision-making: socio-psychological and neuroscientific analyses Herd behavior in consumers' adoption of online reviews Which restaurant should I choose? Herd behavior in the restaurant industry Watch These Awkward Elevator Rides From an Old Episode of Candid Camera Herding Behavior in Social Media Networks in China Herd Instinct Warren Buffett explains one thing people still don't understand about bitcoin Herding behavior in cryptocurrency markets Science Of Persuasion Oxytocin The Brain and the Herd Mentality How to Start a Movement Derek Sivers

Habits are foundational to everything we do. When we think about habits we tend to think about the “bad” ones, things we want to change but there is so much more to it. Our brains run on habits, and without them, we couldn't function. Many episodes of this podcast that have been dedicated to habits and related topics throughout the years, and this is the first one, which originally aired in the fall of 2019.  Since then, I've interviewed habits expert Wendy Wood and discussed habits with Richard Chataway (links to their episodes in these notes). I included habits heavily in my books and the reason I chose to refresh this episode right now is because of this upcoming Friday's guest.  Cassie Holmes, the author of Happier Hour is my guest on Friday, and I thought that some reflection on habits is the best way to set you up to get the most out of that conversation. When you look at your day, what makes you happy? What is serving you and what isn't? What has become a habit and what you should be more thoughtful about? This episode will help you in that process to understand further what a habit is, how they work, and what to keep in mind as you look to reinforce some and change others.  The main thing to remember is that we need habits. They aren't inherently bad. Most of them are good. Understanding them and leveraging them is where the opportunity lies. Show Notes: [00:37] Today's episode is all about habits. Habits are foundational to everything we do.  [02:45] You have a lot more good habits than bad ones. You just aren't consciously aware of the vast majority of them.  [04:27] Sorting by color is a form of habitual purchasing. Even with infrequent purchases, the place you go and look is based on habits.  [06:25] The human brain essentially works on many many associations.   [09:03] Up to 95% of all buying decisions are habitual.  [11:09] Unfortunately the idea that it takes us 21-30 days to create a habit is wrong.  [13:33] 21 days is not the magic number for making or breaking a habit.  [15:16] A 2009 study from the European Journal of Social Psychology found the average number of days it took to form a habit was 66 days. (But don't let that fool you…the range of data points matters!) [16:58] We approach habit changing all wrong.   [18:20] Habits are made up of four phases: cue, craving, response, and reward. [19:31] Habits form because your brain is trying to find predictable ways to get rewards. A cue is a signal to the brain that there is a reward around and that instantly leads to craving/desire/filter for that item.  [21:21] If you want to change a habit or start a new one, the cue and reward phases are driving the behavior.  [22:44] Cues have been found to fall into one of five categories: location, time, emotional state, other people, and an immediately preceding action.  [24:27] You aren't craving the thing, but rather the reward it provides.  [27:05] When we know the cue and the reward our brain wants we can work to change the habit.  [29:31] One other crazy brain trick is word choice.  [31:27] Saying “I don't” is empowering. This was your choice. It affirms the choice you made and makes you feel determined and full of willpower. (This is very different from “I can't.”) [33:12] You should be confident that you made this choice so you can firmly say “No, I don't do that.” [35:04] We can check our notifications and emails every couple of hours or a couple of times a day (instead of every instant as we get continuous pings, dings and buzzes) and it will be fine. Once the cue is gone, we won't look at our phones as much and we can be more productive.   [38:07] Interrupting shoppers' habitual sequence can be a problem depending on your business positioning.   [39:05] As the brand leader you don't want to do too much to shake things up or rock the boat.  [41:59] The habits of your current and potential customers are important to consider when building out your strategies.  [42:28] Melina's closing thoughts [43:29] We are all surrounded by habits all day, they are a huge portion of the 35,000 decisions we all make each day. Understanding the rules of your habits is the first step in identifying which are working well for you and which you might want to let go of because they aren't serving you well. [44:58] You want to focus on the right stuff at the right time and not changes habits that you don't need to.  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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! 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: What Your Customer Wants and Can't Tell You, by Melina Palmer What Your Employees Need and Can't Tell You, by Melina Palmer Good Habits Bad Habits, by Wendy Wood Atomic Habits, by James Clear The Power of Habit, by Charles Duhigg Top Recommended Next Episode: Good Habits, Bad Habits, with Dr. Wendy Wood (ep 127) Already Heard That One? Try These:  The Power of Habit (ep 22) Framing (ep 16) Priming (episode 18) Get Your D.O.S.E. of Brain Chemicals (ep 123) Decision Fatigue (ep 132) Defaults: The "D" in NUDGES (ep 38) Herding (ep 19)  Availability Bias (ep 15) Unlocking The Secrets Of The Brain (ep 1) Status Quo Bias (ep 142) Using Behavioral Science to Tackle Addiction, with Richard Chataway (ep 134) Using Behavioral Science in Healthcare, with Aline Holzwarth (ep 135) Sitting Down with Habit Weekly founder, Samuel Salzer (ep 90) How To Be Indistractable, with Nir Eyal (ep 78) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Three Purchase States How Long Does it Actually Take to Form a New Habit? (Backed by Science) Psycho-Cybernetics, A New Way to Get More Living Out of Life How Are Habits Formed: Modeling Habit Formation in the Real World How Long Does it Really Take to Break a Habit? The Amazing Power of ‘I Don't' vs. ‘I Can't' 5 Ways To Change A Habit Tiny Habits, by BJ Fogg

In today's conversation, I am joined by Luke Freeman, who is the executive director of Giving What We Can, an organization dedicated to creating a culture where people are inspired to give to the world's most effective charities. Giving What We Can was one of the first organizations in the world focused on effective altruism: the project of using evidence and reason to figure out how to best help others, and taking action on that basis. I specifically asked Luke to be on the show today to discuss behavioral science concepts and how they line up with nonprofits. Sometimes, concepts perform exactly as they would in a traditional customer/company relationship when there is money being exchanged…but in other cases, research has found this isn't the case. When people are volunteering or donating some tactics that would show you are grateful or appreciative of a customer (like giving a gift) may backfire and feel…off. Knowing this is a time of year when people who work in nonprofits or volunteer on boards are gearing up for year-end asks or doing strategic planning for next year and people may be thinking of their annual donations, it seemed like the perfect time for this episode to help everyone be more effective with their support of others now and into the future. Show Notes: [00:45] In today's conversation, I am joined by Luke Freeman, who is the executive director of Giving What We Can. [03:08] Luke shares his background and the work that he does. His background is in marketing and he has recently moved to the nonprofit sector. [05:14] When Giving What We Can was looking for an executive director, it was a perfect opportunity to do work that was really important to him.  [06:18] Typically, when people are giving to charity they are giving to something right in front of them or things that they have had some experience with.  [07:39] When people think about charity effectiveness generally the two things that they think of are overheads or administrative costs and impact.  [09:48] The first bar is trying to get people to look outside of themselves and try to improve the lives of others. Once you are there then you narrow in on where you can make the most impact.  [12:27] We can take time to think about what we care about, whose life/lives we are looking to impact, and what is going to be the best use of money to help.   [13:16] We often look at neglectivness because popular problems are often getting a lot of resources already. A lot of stuff is neglected because it fits in the prevention space. [14:44] People are often willing to give right away out of pity or guilt, but that isn't sustainable giving.   [16:32] Sometimes behavioral science concepts that work in traditional buying relationships don't necessarily go the same way when looking at nonprofits and charities.  [18:45] Donors want to feel confident in their donations. Showing other humans giving and why they give is also quite motivating.  [22:29] If your company gets the right story it can really work for the company in terms of their own sales as well. People prefer that there be a logical story that is told of why that charity makes sense for the company they are partnering with.  [24:55] With any brand messaging when you can be specific and narrow the story down or follow the story of someone it has a bigger impact. [27:33] Donation matching is also popular but there isn't a lot of strong evidence of its effect.   [28:52] Recurring donations make more sense for many donors and are much more sustainable.   [30:30] The door in the face technique and artificial surveillance cues don't tend to be as effective with donations. Explanation about context from Melina and why this might be happening – don't generalize results!  [33:25] Recognizing volunteer contributions and having a more human connection can be very helpful for keeping and increasing volunteers. Volunteering strategies are going to be very specific to the organization's context.  [35:00] Some volunteer opportunities are also donor nurturing programs in disguise (in a good way). It showcases the work that the charity does and even if they cost more to run, they are worth it because they create new donors.  [37:51] Don't give people reasons not to do the thing you want them to do. Also, after the fact appreciate it.   [39:10] If you do nothing else this month, what does Luke recommend? You really need to get in the head of your user and in this case that is a donor. Your existing donor base is the biggest asset you have.  [40:15] People really care that they are able to help others and they want their money to go as far as possible. A game of “hot or not” with Luke's rapid-fire tips. [43:41] Melina shares her closing thoughts.  [43:51] I love the idea of being more thoughtful before supporting the most popular organization you might see or hear about the most. 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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! 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: The Speed of Trust, by Stephen M.R. Covey Influence, by Robert Cialdini Predictably Irrational, by Dan Ariely You Have More Influence Than You Think, by Vanessa Bohns How Minds Change, by David McRaney Connect with Luke:  Giving What We Can Website Luke on LinkedIn Luke on Twitter Giving What We Can on Twitter Top Recommended Next Episode: Reciprocity: The Amazing Power of Giving (episode 238) Already Heard That One? Try These:  What is Value? (episode 234) Precommitment (episode 120) Availability Bias (episode 15) Framing (episode 16) Time Discounting (episode 51) Biases Toward Novelty and Stories (episode 54) Reciprocity (episode 23) Loss Aversion (episode 9) Social Proof (episode 87) The Speed and Economics of Trust, an Interview with Stephen M.R. Covey (episode 148) Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (episode 157) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Member Motivations: Why people pledged to give 10% of their income to effective charities Marketing Messages Trial for GWWC Giving Guide Campaign Can money buy happiness? A review of new data What Works to Increase Charitable Donations? A Meta-Review with Meta-Meta-Analysis

Today's episode is all about prefactual thinking. Prefactual thinking is closely related to counterfactual thinking, which was episode 68 of the podcast, and this episode originally aired as number 71. In its simplest form, counterfactual thinking is our “what ifs” and “if onlys” where we look back and wonder what might have been if only something had been different. This can be from outside factors or things within ourselves that might have changed an outcome, and our brains are really good at coming up with idealized scenarios where things would have been amazing and perfect “if only” this one thing had been different.  Prefactual thinking is when we do something very similar but are looking into the future. Why did I hand pick this episode for you to listen to and reflect upon today? This coming Friday, my guest in episode 233 is Leigh Caldwell. He will talk about why he believes there is actually a System 3. You've heard me talk about System 1 and 2 (or rather, the subconscious and conscious processing of the brain...our elephant and rider) and Leigh says there is something else in there that should be its own category altogether. It has to do with imagining and thinking into the future, so it felt like a good idea for you to have a nice refresher on prefactual thinking today so you are all set and ready to be thinking about this possible System 3 question on Friday. So, as you listen today, think about the possibilities and what might come, and be ready to reflect on this when you tune in for episode 233. (And, if you haven't already, now is a great time to subscribe to the podcast to be sure you don't miss it!) Show Notes: [00:38] Today's episode is all about prefactual thinking. Prefactual thinking is closely related to counterfactual thinking. [01:25] While counterfactual thinking is looking back at how things in the past might have been different “if only”...prefactual does something similar, but looking into the future. [03:39] Goals are so important. As the year is ending you are looking back at what you did, and what you could have done, and also looking forward to what you can do in the future.   [04:33] Counterfactuals are looking back at something that has already happened and essentially undoing it in some way in your mind. Prefactuals are when you look to the future and think about what could be.   [05:54] When you think about what could happen or how you might succeed in the future, studies show you can actually have great benefits in all sorts of tasks.    [07:06] Your brain is driven by its desire to get these chemicals and there are different rewards with each.  [08:15] The treat for the brain is in the build-up, the prefactual, so it wants to think through scenarios over and over and it isn't always wired to do this in a positive way unless you put in some interventions.    [09:26] Melina shares a real-world email example.  [12:05] There are countless examples because our brains dwell on stuff all the time – they are wired for it. And they don't happen in isolation; it is easy to jump from counterfactual to prefactual and back again.  [13:18] To use prefactuals for positive behavior change you want to look at the “if / then” and future outcome action ties.   [14:04] The specifics give your brain something to process and remember in the future.  [16:12] After she received an email letting her know about the error, Melina was able to take some time to think about what could happen (prefactual) and because she didn't dwell too much on what might have been (counterfactual) she could take steps to make it better.   [17:38] One key to using counterfactuals and prefactuals for your benefit is to look for the learning opportunity. [20:56] Knowing the true impact is really important before you send anything out. Your brain is going to blow anything out of proportion with the tools it has in its arsenal.  [22:25] Breathe, assess, question, action, and reflection.  [23:19] Studies have found that people perform better on a task after doing prefactual thinking even if they have no prior experience. This is why role playing and visualization techniques are so important.  [25:34] Moving out of the negative counterfactuals and prefactuals into the positive space is such a useful and versatile skill for everyone.   [26:35] There is always something to learn and always a way through to the other side. You will get there faster and easier if you structure your counterfactuals and prefactuals to the positive.   [26:49] Melina's closing thoughts 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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! 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: The Psychology of Price, by Leigh Caldwell Get it Done, by Ayelet Fishbach How to Change, by Katy Milkman Thinking, Fast and Slow, by Daniel Kahneman Nudge, by Richard Thaler & Cass Sunstein Top Recommended Next Episode: Counterfactual Thinking  (episode 68) Already Heard That One? Try These:  Get Your D.O.S.E. of Brain Chemicals (ep 123) Expect Error: The "E" in NUDGES (ep 39) The Overwhelmed Brain & Its Impact on Decision Making (ep 32) Peak-End Rule (ep 97) Priming (ep 18) How to Set, Achieve & Exceed Brainy Goals (ep 70) The Power of Habit (ep 22) Availability Bias (ep 15) Framing (ep 16) How To Set Up Your Own Experiments (ep 63) The Top 5 Wording Mistakes Businesses Make (ep 2) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  How to Break the Negative Cycle of 'What If' Thinking Correction: Improving Physical Task Performance with Counterfactual and Prefactual Thinking When Thinking It Means Doing It: Prefactual Thought In Self-handicapping Behavior Fixing Your Brain: A Guide to Balancing Neurotransmitters

Today's episode is all about branding — and specifically, my insights for how to incorporate brain science and behavioral economics insights so you can have a brainy brand that resonates better with your potential customers, clients, members, etc., and is one of those coveted “favorite brands” in the mind of your consumer.  When your brand is thinking about becoming a beloved “favorite” it is important to consider the experience people have with you. Becoming a favorite is a lot like dating and marriage. On a first date, you are looking for all sorts of data to help categorize someone as a hero or a zero — you want to be able to cut your losses before you invest too much. It's the same with brands. It is important to not make mistakes. You especially want to be on your best behavior early on in the customer relationship to build up that “favorite” status. The tips in this episode will help you leverage behavioral economics to do just that (including what your brand needs to learn from your favorite actors). Now is a great time to be thinking about your brand and goals for the next year. What changes can your brand make and where is it worth the investment in becoming a more brainy and beloved brand? Keep that in mind as you listen today. Show Notes: [00:41] Today's episode is all about branding — and specifically, on my insights for how to incorporate brain science and behavioral economics insights so you can have a brainy brand that resonates better with your potential customers, clients, members, etc., and is one of those coveted “favorite brands” in the mind of your consumer. [01:26] When your brand is thinking about becoming a beloved “favorite” it is important to think about the experience people have with you, and becoming a favorite is a lot like dating and marriage. [04:14] A brand can take a generic item and turn it into something more.  [05:37] Marketing and branding are not the same things. Marketing is all the one-off things that you do to get your name out there.  [07:45] A brainy brand knows what it is trying to achieve and builds quantitative and qualitative research projects to test, learn, and grow.  [08:26] Truly great marketers (like great scientists) are great questioners. [10:55] Our brain makes associations whether we ask it to or not.  [12:35] Priming is really related if you want to make sure you have a brainy brand. You want to make sure you are associating your brand properly with the right things.  [15:01] It is important to be strategic and thoughtful about what it is you are doing for your company.   [16:51] You need to use the associations of the brain to make it as easy as possible on the customer. Be strategic. Think about how you can make it easy, as well as where they might make an error so you can help them avoid missteps and make the right choice.  [18:31] Above all, a brainy brand knows that everything matters.   [19:47] Brands have personalities just like people and for good reasons. Known personalities create expectations in our brains.   [21:09] Smart brands know the work is never done.   [24:04] Method acting is a lot like business branding because they both require a lot of preparation and understanding of things that may never be brought up. [25:16] Brainy brands know everything about who their brand is as if it were a person or a character.  [26:31] The other important thing to remember if you want a brainy brand is that perception is reality.   [27:28] Brainy brands need to have everyone on board rowing the boat in the right direction.   [28:35] Behavioral economics and other studies of the brain look into why people do the things they do and how to use insight to predict what they might do in the future.   [29:14] Melina's closing thoughts 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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! 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: Branding that Means Business, by Matt Johnson & Tessa Misiaszek What Your Customer Wants and Can't Tell You, by Melina Palmer Blindsight, by Matt Johnson & Prince Ghuman Contagious, by Jonah Berger How Brands Grow, by Byron Sharp Top Recommended Next Episode: Matt Johnson (episode 227) Already Heard That One? Try These:  Why We Like the Things We Like, with Prince Ghuman, coauthor of Blindsight (episode 172) Peak-End Rule (episode 97) Priming (episode 18) How to Set, Achieve & Exceed Brainy Goals (episode 70) The Power of Habit (episode 22) Availability Bias (episode 15)) Framing (episode 16) Surprise and Delight (episode 60) Reciprocity (episode 23) Disney: A Behavioral Economics Analysis (episode 144) Apple Card: A Behavioral Economics Analysis (episode 42) Starbucks: A Behavioral Economics Analysis (episode 73) Questionstorming at KIND / Mars with Beatrix Daros  (episode 215) The Overwhelmed Brain and Its Impact on Decision Making (episode 32) Get Your D.O.S.E. of Brain Chemicals (episode 123) Expect Error: The "E" in NUDGES (episode 39) How To Set Up Your Own Experiments (episode 63) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Unconventional Wisdom How to Make Your Content Go Viral Dogs on the Street, Pumas on Your Feet: How Cues in the Environment Influence Product Evaluation and Choice 15 Actors Who Went to Seriously Extreme Measures for a Role HR and Marketing: A Natural Partnership

Today we are digging in on inequity aversion – which is featured in chapter 12 of my new book, What Your Employees Need And Can't Tell You, titled “That's Not Fair!”  Fairness is a fascinating topic and one that is really important in business. We strive to have fair standards in our business practices, in how we pay our employees, and in the offers we provide to customers…but should everything always be perfectly “fair”?  Does it have to be fair? And…what the heck is “fair” anyway? Who decides what is fair? (and is that fair?) Tune in to hear all about it. You will also get to hear why fairness is like air, and what a bunch of capuchins can teach us about work (and why your employees might be ready to throw cucumbers). Listen in to learn all about inequity aversion, why it matters to business, and some tips for how to keep this from being a big problem in your work. Show Notes: [00:40] Today we are digging in on inequity aversion – which is featured in chapter 12 of my new book, What Your Employees Need And Can't Tell You, titled “That's Not Fair!” [02:32] Inequity aversion is a pretty easy concept on the surface. We want things to be equal (unless we are the ones getting the benefits…then we tend to be a little more lax in our demands for equality, right?) [03:19] I want to point out that fair and equal are not the same, and furthermore, equality is not the same as equity – remember this is inequity aversion, not inequality aversion. Equality means that everyone is given the same resources and opportunities. Equity recognizes that not everyone has the same circumstances and therefore provides resources in a way that can help receive an equal outcome. [06:02] What is “fair” and who gets to decide? One of my favorite quotes on this is from Mathew Liebermann who said, “Fairness seems a bit like air—its absence is a lot more noticeable than its presence.” [08:22] When we realize we aren't being treated or paid fairly – or even if we just suspect that something isn't fair everything else can come to a grinding halt. [11:25] According to a Bloomberg article and research by Joblist of 15,000 workers who quit during this time, 40% said the job market was more difficult than they expected, 20% miss people at their old company (and many of them didn't think that was going to impact them as much as it did), 17% said their new job is not what they hoped for, 16% realized their old job was better than they realized, and 9% have found themselves in a company with bad culture and management. 14% of those surveyed who had quit their jobs said they regretted it. [14:01] One thing we do know is that we pretty universally dislike and reject things that are unfair, the problem (as you are seeing here) is that what is fair is relative. [16:54] This brings up another interesting facet of inequity aversion – because we hate the inequitable, unfair and unequal, we will sometimes put ourselves in harm's way or give ourselves a worse outcome to keep someone else from getting an even better one. [19:07] A perceived slight from years back could combine with confirmation bias and the focusing illusion so one employee is sabotaging themselves and your team to keep someone in their or another department from “winning” anything. [21:00] Whenever there is a question of fairness, motivation will tank. We become distracted and disengaged regardless of whether we are intrinsically or extrinsically motivated. Incentives and motivation are so important when we think about job performance. [22:01] When it comes to our aversion to inequity, the best thing to do is to make sure your practices and policies (whether it is pay or anything else) are, of course, fair, and equitable to begin with. [23:37] Remember, of course, that something may not be equal and still be fair and equitable. [24:52] Start by asking what you are trying to achieve. [26:12] Next, what are your priorities? [28:04] Understanding the why behind the decision is really important. Some people might still feel slighted, but that is ok you just need to align that with your priorities and the different groups you are working with. [29:18] You have to be looking for the worst way this could be interpreted and what you might have missed. Who aren't you thinking about? What aren't you thinking about? Do not skip this step. [30:01] Don't rush something out and expect people will give you the benefit of the doubt–it doesn't often work that way. [30:50] Be as open, clear and transparent as you can be with as much as you can. This doesn't mean you need to publicize how much everyone makes, but you can explain what the wage bands are for each role and why, or if there is an algorithm to determine who gets a bonus or what their base level salary will be or where the cap is, make that publicly known. [32:06] Once you can make it equitable, explainable, AND transparent, it allows the focus to come off of the external motivations and incentives (those grapes and cucumbers) and focus instead on the purpose of their work and hopefully doing a job they love. Everything becomes easier when people aren't concerned about fairness, inequality, or inequity. 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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! 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: Drive, by Dan Pink Power of Regret, by Dan Pink What Your Employees Need and Can't Tell You, by Melina Palmer How to Have Difficult Conversations About Race, by Kwame Christian Top Recommended Next Episode: Game Theory (episode 62) Already Heard That One? Try These:  Availability Bias (episode 15)) Herding (episode 19) Social Proof (episode 87) Confirmation Bias (episode 75) Focusing Illusion (episode 89) Optimism Bias (episode 34) Cobra Effect (episode 220) Counterfactual Thinking  (episode 68) Prefactual Thinking (episode 71) How to Have Difficult Conversations About Race, with Kwame Christian (episode 221) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Monkey's Reject Unequal Pay Why Monkeys (and Humans) are Wired for Fairness Millions of Americans Regret the Great Resignation Anomalies: The Ultimatum Game

We're all guilty of it, basing decisions on the most recent event. It's surely part of our wiring. The question is - what do we do about it? In this episode, Justin Morgenstern breaks down availability bias: what it is, how it shows up in life and medical practice, the difference between learning and bias, research showing availability bias happening in real time, and ways to turn availability bias from a bug into a feature.     Guest Bio: Justin Morgenstern is a community emergency physician with a passion for education, resuscitation, and evidence based medicine, Purveyor of the amazing First10EM blog, Justin works in the Greater Toronto Area.  On a personal note, Justin and I met years ago at a conference in the Bahamas. He was in the audience and was such an incredible contributor to a group conversation that I had him come up on stage and be a panel member. Since then, I've found that he is a rare mix of humility, genius, and kindness.   For full show notes visit our podcast page Interested in one-on-one coaching? Learn more at roborman.com To support the show - our Patreon site is https://www.patreon.com/stimuluspod   We discuss: Availability Bias and how it relates to everyday decision making.  What is availability bias; Where this shows up in clinical practice; Learning is not availability bias; Whether more testing is the right path for subtle presentations of life threatening diseases; Testing thresholds; Tips for avoiding availability bias in our practices; Real world example of availability bias; Justin's tools for addressing bias; Ways to hack the bias.

We're all guilty of it, basing decisions on the most recent event. It's surely part of our wiring. The question is - what do we do about it? In this episode, Justin Morgenstern breaks down availability bias: what it is, how it shows up in life and medical practice, the difference between learning and bias, research showing availability bias happening in real time, and ways to turn availability bias from a bug into a feature.     Guest Bio: Justin Morgenstern is a community emergency physician with a passion for education, resuscitation, and evidence based medicine, Purveyor of the amazing First10EM blog, Justin works in the Greater Toronto Area.  On a personal note, Justin and I met years ago at a conference in the Bahamas. He was in the audience and was such an incredible contributor to a group conversation that I had him come up on stage and be a panel member. Since then, I've found that he is a rare mix of humility, genius, and kindness.   For full show notes visit our podcast page Interested in one-on-one coaching? Learn more at roborman.com To support the show - our Patreon site is https://www.patreon.com/stimuluspod   We discuss: Availability Bias and how it relates to everyday decision making.  What is availability bias; Where this shows up in clinical practice; Learning is not availability bias; Whether more testing is the right path for subtle presentations of life threatening diseases; Testing thresholds; Tips for avoiding availability bias in our practices; Real world example of availability bias; Justin's tools for addressing bias; Ways to hack the bias.

In this installment, we discuss: Tribute to Nipsey Hussle, Difference Between Educating and Informing and Being Our Own R.O.L.E. M.O.D.E.L. The term Availability Bias and The Conditioned Mind is also highlighted.

Typische Denkfehler bei Power BI, die Sie kennen sollten: Lassen Sie sich vom Availability Bias keinen Streich spielen. In Unternehmen hält sich der Mythos, Power BI sei kostenlos, hartnäckig. Und das hat seinen Grund: Microsoft baut mit seiner Testversion auf einen Effekt, der in der Kognitionswissenschaft als Availability Bias bekannt ist: Die leichte Verfügbarkeit der Testversion erzeugt den Eindruck, dass es bei einem Power BI-Projekt wenig zu beachten gäbe und die Umsetzung intuitiv sei. Schnell wird übersehen: Vor einem Projekt müssen Sie unter anderem festlegen, welche Datenquellen sie nutzen, wie die Datenarchitektur aussehen soll und wie die Integration funktioniert. Solche Entscheidungen gehören zu jedem Power BI-Projekt, das verwertbare und nachhaltige Ergebnisse erzielen soll.  Es zeigt sich immer wieder: Die richtigen „Verbündeten“ und ein sauberer Projektplan sind der beste Schutz gegen den Availability Bias. Wie Sie Ihr Power BI-Projekt erfolgreich zum Ziel führen, erfahren Sie hier: https://www.atvisio.de/blog/typische-denkfehler-rund-um-power-bi-availability-bias/     Der Performance Manager Podcast ist der erste und einzige deutschsprachige Podcast für Business Intelligence und Performance Management. Controller und CFO erhalten hier Inspirationen, Know-how und Impulse für die berufliche und persönliche Weiterentwicklung. Weitere Informationen zu Peter Bluhm, dem Macher des Podcast, finden Sie hier: https://www.atvisio.de/unternehmen/ Unsere Bitte: Wenn Ihnen diese Folge gefallen hat, hinterlassen Sie uns bitte eine 5-Sterne-Bewertung, ein Feedback auf iTunes und abonnieren diesen Podcast. Zeitinvestition: Maximal ein bis zwei Minuten. Dadurch helfen Sie uns, den Podcast immer weiter zu verbessern und Ihnen die Inhalte zu liefern, die Sie sich wünschen. Herzlichen Dank an dieser Stelle!  Sie sind ein Fan unseres Podcast? Sie finden uns auch auf diesen Kanälen: Exklusive Xing-Gruppe zum Podcast: https://bit.ly/3eKubH6 Exklusive LinkedIn-Gruppe zum Podcast: https://bit.ly/2zp6q7j Peter Bluhm auf LinkedIn: https://bit.ly/2x0WhwN Peter Bluhm auf Xing: https://bit.ly/2Kkxhne Webseite: https://atvisio.de/podcast Facebook: https://www.facebook.com/ATVISIO/ Twitter: https://twitter.com/atvisio Instagram: https://bit.ly/2KlhyEi Apple Podcast:  https://apple.co/2RUMwaK Soundcloud: https://soundcloud.com/atvisio

In this episode, we explore the concept of the availability bias. Is our perspective clouded by things that just happen? How can we balance our perspectives?

In this week's episode, Ricardo talks about availability bias. He explains that when a risky event is repeatedly exposed on the news or by a group of people next to us, our perception is altered by that exposure, which often makes us lose rationality about the real probability or impact. One of the examples is the panic seized by the delay of flights all over the world. Of course, there is a delay, but there is at the same time a perception that 100% of flights are delayed or canceled, and all bags and luggage have been lost. This assessment is not necessarily correct. The reality is that we live in a world with abundant information and availability, and this amount of information can radically affect our perception. Ricardo also gives some tips on how to mitigate the effects of availability bias. Listen to this week's #5minpodcast to learn more.

Today I am very excited to introduce you to Wiam Hasanain. Wiam is a seasoned social impact consultant, with 20 years of experience operating at the intersection of policy reform, societal development, behavior change, and civic engagement. She is a problem solver, utilizing data-driven insights to create practical approaches to resolving pressing social challenges on a range of projects and industries. She built her foundation at Unilever, and over the last decade, she has spearheaded nationwide programs in the areas of unemployment, health, financial literacy, sports, and career planning. She has established the structure and strategy for nudge units, set their national agendas, and designed behavioral interventions to serve public policy.  After consulting with Bain and Company Middle East she moved onto a senior role in her native Saudi Arabia; leading the Corporate Social Responsibility (CSR) function at a Mckinsey subsidiary and creating nationwide community programs. From there, she spent a decade as a partner at the foremost boutique consultancies in the GCC, leading social impact and behavior change efforts. Her passion is advising on behaviorally informed policies across sectors. Wiam believes strongly in spreading knowledge about the implementation of behavioral change across industries and has published a variety of articles on the practical application of behavioral science and has an MBA from UC Berkeley as well as a master's from the London School of Economics and Political Science. In continuing to have a more global view of the representation here on The Brainy Business, Wiam is our first guest from Saudi Arabia. I'm excited to share some of her work with you on a specific CSR project on the show today. Show Notes: [00:40] Today I am very excited to introduce you to Wiam Hasanain. Wiam is a seasoned social impact consultant, with 20 years of experience operating at the intersection of policy reform, societal development, behavior change, and civic engagement. [01:58] Her passion is advising on behaviorally informed policies across sectors. [04:27] Wiam shares about herself, her background, and how she found herself in this space.  [07:30] She is from Saudi Arabia and has spent the majority of her life there.  [08:16] She worked with a client on a corporate responsibility program that focused on helping the youth in Saudi Arabia find their career path.  [10:41] They agreed that they could help open the youths' eyes to other careers that were out there as opposed to the traditional STEM careers.  [12:04] Their project was such a success that it ran for three years in a row and kept growing each year.  [14:29] It is really nice for her to see how the social norm has changed and know that they were part of this change.  [16:31] The parents along with the career counselors had to work together to really help the students bridge the intention to action gap. It was also important for the parents to see that these other jobs were acceptable as well.  [18:20] The parents had a different hang-up than the youth. (Know all your audiences and plan accordingly!) [19:55] Wiam shares how they reduced sludge and friction in their project and made things easier.  [21:41] They had over double-digit changes in their perceptions of certain careers. The short-term response was very promising.  [22:27] An RCT is a randomized control trial.   [24:03] You are always adding sludge and removing sludge in various ways. [24:54] Wiam shares how they added some sludge to help with the problem they were trying to solve. They made it difficult for students to leave without going through all the exhibits (to help increase exposure to careers that wouldn't have been a focus previously).  [26:57] They utilized augmented reality in some of the exhibits so that would be where the majority of the students were drawn (and these were typically for the non-traditional careers to broaden horizons). The most desired careers were also at the end, so you had to have some exposure to the other careers no matter what.  [28:08] There are times when customer experience, behavioral science, and corporate responsibility all come together so be more concerned with your end objective.  [30:18] Whether you think about it or not you are influencing the decisions that people make with the way you put the booths in the space even – so you should definitely think about it! [31:43] Don't think anything is too small to be considered a small step towards behavioral change. Be thoughtful and intentional.  [32:52] Melina's three tips for setting up your own experiment are to keep it small, be thoughtful, and test often.  [34:29] Melina shares her closing thoughts. [35:41] My upcoming book, What Your Employees Need and Can't Tell You, is now on presale and will be in a bookstore near you on October 11, 2022. [36:21] If you enjoy the experience I've provided here for you, will you share about it? That could mean leaving a rating/review or sharing the episode with a friend (or 10!) 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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

We will always disagree with and question someone's thoughts and actions when they don't align perfectly with ours. That seems perfectly natural, expected, and understood. What is difficult to understand is how some people will not change their mind even after receiving compelling information or evidence that is contrary to their original thoughts. This is because of #Heuristics and #Biases that are built into being human. Anchoring Bias shows that we rely on the first information that we receive disproportionately. Confirmation Bias shows that we tend to look for conformation more than contradiction. Availability Bias shows that we lean towards the most available evidence first. Prospect Theory Shows that often value outcomes irrationally. No one enjoys being wrong and we tend to avoid change. We seek out companionship with like-minded people. So, sticking to our opinions and with our tribe feels comfortable and right. So how do we change someone's mind? We don't. It's tough to remember that we cannot change other people. We can only change ourselves. You will be more successful trying to get someone to open their mind and maybe nudge them into a new direction. Just like it's almost impossible to stop a rolling boulder, it's easier to run alongside someone and bump them in the direction of a different path. So, open your mind and listen in as we discuss some tactics in the Art of Persuasion. How to gently nudge... B – Benefits must be clear so that there is a win/win A – Ask questions and argue logically and emotionally C – Confidence and credibility O – Open their minds by opening your mind N – Nudge, don't force. My beliefs would not let me budge, For the opposition, I was holding a grudge, But then, over time, I opened my mind, And changed my thoughts as they gave me a nudge. www.MasterHappiness.com www.WhatsYourBacon.com #SalesCoach #PublicSpeaking #Keynote #Career #Relationships #MasterHappiness #Jalove #Bacon #WRLR #BaconBits #MartyJalove #WhatsYourBACON #Argue #Nudge #Debate

Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: The availability bias in job hunting, published by Vaidehi Agarwalla on April 30, 2022 on The Effective Altruism Forum. TL:DR; EA talent is currently suboptimally allocated, resulting in lower impact for the movement. There are many reasons for this, and in this post I talk about one reason: attention misallocation - and specifically, availability bias around certain careers and paths. Linguistic note: I will refer to career paths that are given the most attention in EA “highlighted paths”. The availability bias is “a mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision.” Many factors cause some facts to be recalled more easily than others (e.g. if the fact is recent, frequent, extreme, vivid, negative etc.) In the EA context, people exhibit the availability bias towards a small subset of very competitive, geography-limited, low absorbency career paths and roles (henceforth highlighted paths). How certain are we that this is actually happening? One proxy for understanding attention is to look at job applications. These are pretty strong signals of intent on the part of community members. Jobs at some EA-aligned organisations are notoriously hard to get and getting rejected from such opportunities comes with costs. The mismatch of attention and opportunities illustrated in the stylized sankey plot below: How does the availability bias work? Highlighted paths get disproportionate attention and status from the community, but cannot absorb enough people. The way that these opportunities are perceived and experienced creates the conditions for availability bias. Additionally, there are limited resources and support for other, higher absorbency paths so the lack of information and support around these paths further exacerbates the condition. It makes highlighted paths... socially acceptable EA changes peoples' perceptions of different opportunities. In particular, it raises the bar for what counts as effective. People consider a smaller set of opportunities to be acceptable and may feel like a given opportunity needs endorsement from the EA community to be acceptable. Because there are so few opportunities that are defined as clearing this bar, they get disproportionate attention. (socially) desirable As people get more involved with EA and deepen their engagement, the more likely they are to want direct impact as well. It actually is more desirable to work for an EA organisation because EA jobs provide scarce non-monetary goods such as: Social status Meaning-making / life orientation A sense of having a near-maximal impact Being part of a value-aligned group easier to access (not to actually get) Job opportunities for highlighted paths at existing EA organisations, feel more accessible because they are publicised repeatedly, concrete, and convenient. Repetition: You are much likely to apply if you hear about a role at a careers fair, on job boards, on social media and the Forum, and by referrals from group organisers and friends. Concrete: work at an org vs create your own role (e..g in policy this can happen) Convenient: Some publicity methods like job boards or career fairs make finding some opportunities very convenient. Curated job boards present you with relevant and up-to-date openings, are convenient to search, and appear comprehensive (sometimes listing hundreds of vacancies). Careers fairs give you the ability to network with staff from the represented organisations which both increasing the likelihood of people applying and may appear to (and actually) improve their chances of getting the job. It also makes it easy to anchor on such methods, because the alternative to a job board is to search up lots of organisations yourself, and the alternative to a careers fair is to...

Episode 3 of the series on cognitive bias!  There are a few of the different cognitive biases that have a powerful influence on how you think, how you feel, and how you behave. Each episode will touch on a different bias. So make sure you tune in to them all! This week Peter and Mirta talk about the Availability Bias, which is the human tendency to think that examples of things that come readily to mind are more representative than is actually the case. Naturally, the things that are most memorable can be brought to mind most quickly. However, there are a number of factors that influence how well we remember things. For example, we tend to remember things that we observed ourselves more easily than things that we only heard about. If your enjoying the series and getting value out of the episodes please remember to share it around! The hosts also love to hear any feedback or answer questions you may have, so feel free to send them a message!  Peter Cronin - peter.cronin@viago.co.nz  Mirta Fagundes dos Santos - mirta@viago.co.nz

Season 3 is officially under way! Jason joins Brad for a breakdown of a powerful mental model known as "Hanlon's Razor." In this new 双语吐思 format, one dude only speaks English, the other only speaks Chinese. Your job? Think about meaningful stuff using your target language! ALL the 链接s!New https://mianbao.fm/podcast/btc (BreadToast Chinese 面包吐思 website) https://www.mianbao.fm/ (Mianbao.FM) Official Site 官网; Follow关注MianbaoFM的 https://www.facebook.com/mianbaofm (Facebook) Follow Brad on Weibo 关注主播微博：https://weibo.com/u/2893211751 (@叫我浩哲吧) 互动/评论/吐槽/分享anything：mianbaofm@outlook.com If your podcast player doesn't have a transcript feature, here's one of https://mianbao.fm/podcast/btc/episode/hanlon (all the 中文 spoken in this episode!) Time Markers 时间轴(with two premium, organic, non GMO hand-selected vocab words in each section, in case you want something to focus on) 00:20 Jason is visiting from https://mianbao.fm/podcast/qingwa (井底之挖 (Check it out here!)) - 2词s: 井底之蛙，挖掘 01:49 A unique approach to thinking in English/Chinese - 2词s: 思维，情境 02:53 Hanlon's Razor, https://en.wikipedia.org/wiki/Hanlon%27s_razor?msclkid=95ac199dc0ec11ec8d02a020774d417b (defined) - 2词s: 小心眼儿，恶意 06:55 Hanlon's Razor, https://www.techtello.com/hanlons-razor/#:~:text=%E2%80%9CNever%20attribute%20to%20bad%20intentions%20that%20which%20is%20adequately%20explained%20by%20ignorance%2C%20incompetence%2C%20negligence%2C%20misunderstanding%2C%20laziness%20or%20other%20probable%20causes%E2%80%9D (elaborated) - 2词s: 含义，判断 09:07 https://www.techtello.com/hanlons-razor/#:~:text=Combating%20cognitive%20biases%20with%20Hanlon%E2%80%99s%20razor (Dealing with biases): Confirmation Bias（证实性偏见）, Fundamental Attribution Error/Correspondence Bias（基本归因错误), and Availability Bias （可得性偏差）- 2词s: 主观能动性, 思维模式 13:32 Critical thinking exercise (pick your language!): https://www.techtello.com/wp-content/uploads/2020/07/hanlons-razor-at-work.png (Razor-sharp questions) - 2词s: 前提，冒犯 17:53 Natural Chinese conversation: Hanlon's Razor and Will Smith/not punching people in general - 2词s: 旁观者，瞅你咋地 23:27 Final 吐思：https://effectiviology.com/hanlons-razor/#:~:text=What%20are%20the,implementing%20Hanlon%E2%80%99s%20razor. (Weighing the costs of incorrect assumptions) - 2词s: 代价， 情景

Why are we so absolutely sure of things that aren't true? How do questions make life better? In this episode, we'll talk about how asking questions can enhance relationships, increase confidence, and prevent us from being easily triggered or led down a road of falsehood—whether in religion, relationships, politics, the workplace, or our personal beliefs.

Wonach entscheiden deine Chefs, wen sie befördern? Die Antwort ist erschreckend simpel: Nach jenen Erinnerungen und Fakten, die ihnen leicht einfallen. Doch dieses psychologische Phänomen könnt ihr auch für euch nutzen – selbst, wenn ihr schüchtern seid.

What is it really like to be a successful writer, producer or showrunner in Hollywood? I am joined by the masterful David H. Steinberg who is incredibly generous with his time to the script writing community and shares many insights on this podcast episode. David provides practical advice that is useful to all creatives, not just writers. Covering topics such as writer's room structures, the benefits of working on multiple projects at once, NFT's and the potential role they will play in the film and tv industry, imposter syndrome as well as busting a few myths. David has a great platform on twitter in which he is always assisting, mentoring and supporting script writers. If you love his comedy works, you will want to hear this! Twitter @DavidHSteinberg

As a lover of questions, I get asked a lot of things on all sorts of topics. One that comes up often is this idea about machine learning, AI, big data, data analytics, and how it combines with the behavioral sciences. Is there an overlap or are they competing? How can they work together?  Around the same time as I was prepping to be part of a debate at the Insights Association's CONVERGE conference on a similar topic, I had my conversation and interview with Manuj Aggarwal. He went from making $2/day to the boardrooms of Fortune 500 companies as a business mentor. He now has four patents, two published books, and more than 180K students across the globe. He has worked with multiple businesses including Microsoft, Pearson, IBM, and many others. He even developed an AI-based system to help students avoid dropping out of degree programs that were praised and mentioned by Barack Obama and Bill Gates. He is the host of the Bootstrapping Your Dreams podcast, where I was honored to be a guest recently and I am delighted to have him with me here on the show to talk about the value of AI and how it can overlap with behavioral science. Listen in as we discuss all about combining AI with behavioral science. You don't want to miss the many great insights!  Show Notes: [00:08] I'm delighted to introduce you to Manuj Aggarwal to discuss the opportunity of combining AI with behavioral science. [01:07] In December 2021 I (Melina) had the honor of being part of a debate put on at the Insights Association's CONVERGE conference where my team was arguing that "When it comes to capturing consumer insights, AI is never going to work." [03:59] Manuj shares about himself and the work that he does. [06:42] We are all experts in something and we are always trying to improve ourselves.  [07:17] Technology moves at a very rapid pace.  [10:18] Blockchain can decentralize and negotiate that trust between us as a technology; we don't need the bank or any third party. Instead, we can put our promise on a blockchain, and when that promise is fulfilled the technology is going to complete that transaction.  [11:35] Manuj shares two of his favorite projects. The first project was a mining project they did with UPS. [13:27] In the second project they applied behavioral science and AI with universities to keep students from dropping out of their degree programs after the first year. The system they created was talked about and supported by Barack Obama and Bill Gates. (Awesome!) [15:47] It is about understanding what people are thinking and what the reference point is that they have in their mind to get that concept.  [16:20] We need to find out the objective and work backward.  [18:38] Monitoring the data and enhancing the models in real-time lets things get even more accurate.  [20:10] Instead of focusing on the problem you think exists, they start by asking, “What are the results you are looking for?' [21:15] Figure out what the result is that you are looking for and then work backward on the root cause.  [23:50] There are so many common problems that people are having. Scaling happens gradually.  [25:46] There has never been a greater time than this to create a globally scalable company or solution.     [26:34] At the fundamental level when we break open AI it is actually a network of networks.  [28:33] You have to clean the data and you have to continuously do many experiments to fine-tune your data.  [30:09] You don't have to become an AI expert to apply it.  [32:12] As a business owner or individual, you need to look for repeated patterns in real life and that is where AI can be really helpful to optimize a business.  [33:03] Not sure where to start? Look at some repeated patterns where something happens consecutively three times.  [35:41] 95% of our decisions are made by our subconscious mind.  [36:44] Mediation allows you to connect with other human beings at a much more meaningful level.  [38:08] Mediation is really about unplugging and doing something that you would do any day of the week for the sake of having fun.  [41:34] The script needs to be flipped around. First, we need to feel fulfilled and happy and clear off all these negative emotions which then leads to amazing opportunities. (Melina calls this “calming the elephant” often) [43:46] It is all about having conversations, building connections, and relationships.  [45:08] Nobody cares how much you know until they know how much you care.  [46:17] Melina shares her closing thoughts.  [49:05] If you enjoy the experience I've provided here for you, will you share about it? That could mean leaving a rating/review or sharing the episode with a friend (or 10!) 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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Were you a fan of The DaVinci Code? I loved that book, and quickly read everything by Dan Brown, which led to a fascination with the world of signs and symbols. I never really thought about how that aligns with my love of brain associations and behavioral economics, but they are very much rooted in the same fascinating topic.  When I was introduced to Rachel Lawes, by recent guest Elina Halonen, and I got to check out her first book Using Semiotics in Marketing and then an early read of this new book Using Semiotics in Retail, I was hooked and knew I had to share it with you all here on the show. Rachel is here to talk about the ins and outs of semiotics, and some fun stories about how they impact us all the time even when we might not realize it. I really love everything to do with semiotics and I think you will too.  One of my favorite insights from our conversation is, “Where there is choice, there is meaning.” Take a moment to ruminate on that, and let's start the show. Show Notes: [00:47] Sometimes things come up that get me beyond fascinated and this is one of those episodes. It is because of the entire field of semiotics. Signs, symbols, and brain associations and how they impact businesses and buying decisions, it is truly fascinating.  [03:15] Rachel shares about herself and her background, and how she got into the field of semiotics. As a social psychologist, she is all about relationships and how people communicate with each other. [04:24] Semiotics starts out from the view that people in conversation with each other actively and cooperatively build and construct versions of reality.   [06:24] Semiotics is the study of how people interpret and make sense of signs.  [08:15] Rachel shares about the Game Stop stock market saga.   [10:47] Millions of people bought shares in Game Stop with the result that by January of 2021 it was one of the most high-ranking businesses in the world in terms of its shares.  [13:07] Game Stop is a great story about business and how people create meaning amongst themselves.  [16:01] People were very quick to use the tools of language to create a sense of group identity.  [19:01] It simply changed the rules of the game because the stock market was not designed that way.  [21:05] Rachel shares the story from her book about a jam business gone terribly wrong.  [23:41] She went to the jam business and took photos to find out what was keeping people away. [24:03] An essential question in semiotics is “Where have I seen this before?”  [25:13] She shares her findings when she visited the jam business. (Listen for a laugh!) [28:07] When you hear it all explained, it sounds classy, but when you get the comparison you can see the flaws.   [28:57] Trust your instincts. If there is something making you uncomfortable, you need to take that seriously until you find out what that is.  [30:12] “Where have I seen this before?” is one of Rachel's favorite questions because it is one that her clients can start to use right away. It is also user-friendly for people just beginning semiotics.  [30:45] Where there is choice, there is meaning.  [31:19] She shares an example of Donald Trump's hair.  [33:50] Rachel shares the hilarious videos of Jeff Bezos and Leonardo DiCaprio. [36:56] No matter how much money you have, money will never trump good looks. [40:32] Melina shares her closing thoughts.  [41:42] If you enjoy the experience I've provided here for you, will you share about it? That could mean leaving a rating/review or sharing the episode with a friend (or 10!) 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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Hello! I'm Dr. Eric Perry. I specialize in future-focused coaching for individuals who exhibit narcissistic tendencies. My goal is to help you live a more empathic, compassionate, and fulfilling life. The intention of this podcast is to provide insight, support, and encouragement to anyone who exhibits these tendencies. My other areas of expertise include relationship issues, stress management, career development, performance, health, and overall happiness. To learn more about my methodology or to schedule a free consultation, please visit https://drericperry.com/. Thank you for listening! Disclaimer: The materials and content contained in this podcast are for general information only and are not intended to be a substitute for professional advice, diagnosis, or treatment. Listeners should not rely on the information provided for their own health needs. All specific questions should be presented to your own health care provider. Listening to this podcast in no way creates a professional/working relationship between the listener and Dr. Eric Perry. If at any time you have an emergency while listening, please contact your local emergency center immediately.

A company's success nowadays is so reliant upon pitching and getting media coverage. Having a credible source say positive things about you and your company can be pivotal when it comes to whether your brand is going to be seen or not. That is exactly why this episode of The Brainy Business is dedicated to giving you some concise tips on how to use behavioral economics to pitch your brand. I know pitching yourself can feel awkward, but when you understand the brain science it doesn't have to be, especially if you follow my tips! I discuss different brain biases such as social proof, authority bias, familiarity bias, and really focus on availability bias. Availability bias is critical to pitching success. You can take advantage of it by predicting and paying attention to trends and finding a way to offer people a fresh perspective on them. We close with three key points to keep in mind when pitching: (1) keep it short (2) be happy with your language and (3) follow directions. This and so much more in this episode, which will help you use behavioral economics to successfully pitch yourself and your business, so listen now... Show Notes: [00:06] In today's episode, I talk about using brain science to successfully pitch to media. [02:22] Pitching yourself can be awkward and uncomfortable, and there are brain biases that can explain why that is. Understanding them can help you turn them around and use them to your advantage. [05:05] There is good news – pitching doesn't have to be so hard if you use my tips! [07:20] I explain why media coverage and pitching are so important, beginning with social proof. [08:43] Authority bias leads us to believing that anything that the news or media reports is true or else it wouldn't be featured. [09:32] Familiarity bias makes us lean toward things that we already know or know of. [10:26] The final (and I would argue, most important) brain bias that is to your benefit when pitching is availability bias. [12:48] One of my favorite examples of availability bias is how travel to Norway drastically increased following the release of Disney's movie Frozen! [14:20] In order to take advantage of availability bias, you need to predict trends and offer something unique in relation to them. [16:30] Pitching to reporters can be stressful, but remember that reporters are people doing a job. You can be a resource to them they are thankful for if you connect with them properly. [19:06] A simple and easy habit you can create to make you a master at pitching by taking advantage of availability bias. [21:55] Recognize where you fit and where you can fill in gaps. [24:23] Remember to take advantage of familiarity bias! Get people to know who you are and like you before you ask for anything [25:41] I recommend signing up for HARO (Help a Reporter Out). [27:10] It's important to remember that not all of your pitches will land, but that only makes it that much more rewarding when they do. [27:43] I give you some key tips to keep in mind: (1) keep your pitch short and sweet, (2) be sure that you're satisfied with how your pitch is worded, and (3) follow directions that reporters put into their requests and do what they ask. [29:30] A quick and simple summary of all the tips in the episode. [31:03] Registration is now open for my Setting Brainy Goals course! 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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Get the Books Mentioned on (or related to) this Episode: Influence, New and Expanded: The Psychology of Persuasion, by Robert B Cialdini PhD Presuasion, by Robert B. Cialdini, PhD You're Invited, by Jon Levy The Hype Handbook, by Michael F. Schein The Speed of Trust, Stephen M.R. Covey Top recommended next episode: Availability Bias (episode 15) Already heard that one? Try these: Familiarity Bias (episode 149) Confirmation Bias (episode 102) Framing (episode 16) Priming (episode 18) Optimism Bias (episode 34) Social Proof (episode 87) Reciprocity (episode 23) Herding (episode 19) Focusing Illusion (episode 89) Prefactual Thinking (episode 71) Bikeshedding (episode 99) Survivorship Bias (episode 110) Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (episode 157) Other Important Links: HARO - Help A Reporter Out Certificate in Applied Behavioral Economics at Texas A&M Check out Melina's award-winning book, What Your Customer Wants and Can't Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia. Also, be sure to register for her upcoming Setting Brainy Goals course!

Have you ever had a disruption in your routine – moving to a new house, taking a new route to work – and found yourself exhausted every day?  This is common when our habits are upended (the subconscious can't use its rules anymore so your conscious is having to do a lot more work!). And while it may feel annoying, this is also a great opportunity to innovate and change your life for the better.  Today, I'm joined by Adam Hansen, VP of behavioral innovation at Ideas To Go and coauthor of Outsmart Your Instincts who happened to be in the midst of a move, so we talk about how to reframe an annoying disruption in habits to make it work for you. We also discuss the curse of knowledge and how it impacts businesses, risks of omission versus risks of commission, and other fun behavioral goodness sprinkled throughout (including my new favorite term of being an “omnivore of information”). Listen now... Show Notes: [00:07] In today's episode, I'm excited to introduce you to Adam Hansen, VP of behavioral innovation at Ideas To Go and coauthor of Outsmart Your Instincts. [03:18] Adam shares about himself and his background. He always knew that innovation would be part of his career.  [05:18] When working on the book, they started looking at all the cognitive biases to figure out which ones were causing most of the mayhem in innovation.  [06:16] If you adopt the behavioral innovation approach, you can see three to four times improvement in performance and quality of ideas very early on in innovation. You can get to better ideas faster.  [09:01] All of the thousands of small decisions we make every day that have been automated are lost when you move. Each little thing is so minor that we don't realize what the cumulative effect of all those small decisions is.  [10:02] It is important for us to automate everything we can.  [12:19] It is impossible for us to place ourselves fully back in the shoes of our first-time clients. Our version of dumbing things down to meet them where they are is still going to be more advanced than where we need to get to. We can work on this by following up with first-time clients and asking what you could have done better.  [13:46] There is so much more jargon in your business than you think there is. [16:10] Our need for tangibility is much greater than we assume. Most people need help to break down abstraction. The more tangible you can be the better.  [18:13] The curse of knowledge is the idea that once you become knowledgeable in a given area, you can't unknow what you know and you can't fully place yourself back in the shoes of the subject.  [23:27] Negativity Bias is the idea from our ancestors of thinking of all novelty as threat and not opportunity.  [25:12] Especially in innovation, we need to be as opportunity minded as possible. We need to be aware of threats and take smart action to minimize and mitigate those threats.  [27:43] When we are in moments of threat, to still be able to take swift decisive action is fantastic (and sometimes life-saving!)  [28:29] The research shows that negativity can appear super profound. Too often we are shooting down ideas and not coming up with alternatives. That is not progress.  [30:31] We are predisposed to go toward the negative any time a new idea comes up.  [31:38] The more you can value ideas early on for their provocative value rather than for their immediate merits the better. Then you are in a better frame of mind to take on the negatives.  [33:54] When you approach challenges to problems in this way, there is real value. The language is brilliant, priming to get people to deal with problems and concerns in a much better way.  [35:10] If you are an optimistic person it doesn't mean that you don't have a negativity bias and pessimistic people still have optimism bias.  [36:44] Go in understanding that there will be some differences and then the task becomes “How do we get the most out of the differences?” The more you can approach differences with curiosity than defensiveness...the better.  [37:48] Curiosity is very smart and super adaptive. Be curious even when it is hard to be curious.  [39:07] Curiosity kills the cat, satisfaction brought it back. (Did you know there was more to that saying?!) [41:49] It is hard to gather data on what you don't do.  [43:42] Every year to 18 months every person should “fire themselves.” If you fire yourself and come into your job as if you had new eyes...what would you do differently? When you start a new job you are looking for all these opportunities of growth and then you become stagnant.  [45:07] We need to be more intentional and realize we can choose better because we have all these nonconscious instincts so we can choose otherwise.  [46:49] Meaning is created dialogically not monologically.  [47:35] Melina shares her closing thoughts.  [47:42] One of Melina's favorite things is this idea of being an “omnivore of information.” It's such a great way to think about learning and essentially devouring all kinds of topics from various origins. [50:07] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  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 Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Get the Books Mentioned on (or related to) this Episode: Outsmart Your Instincts: How The Behavioral Innovation Approach Drives Your Company Forward, by Adam Hansen Good Habits, Bad Habits: The Science of Making Positive Changes That Stick, by Wendy Wood How To Change, by Katy Milkman Connect with Adam:  Ideas To Go Adam on Twitter Past Episodes & Other Important Links:  Top recommended next episode: Good Habits, Bad Habits: an Interview with Wendy Wood (episode 127) Already heard that one? Try these:  Availability Bias (episode 15) Familiarity Bias (episode 149)   Status Quo Bias (episode 142) Confirmation Bias (episode 102) Framing (episode 16) Stressed and Overcommitted? Tips to Tackle Planning Fallacy (episode 114) 95% Of Decisions Are Habitual – Which Side Is Your Business On? (episode 21) Priming (episode 18) How To Change, an Interview with Katy Milkman (episode 151) Curse of Knowledge - coming soon! Negativity Bias - coming soon! Risk of Omission vs. Risk of Commission - coming soon! Check out Melina's award-winning book, What Your Customer Wants and Can't Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia

Availability bias, also known as the availability heuristic, is the idea that we tend to value --  overweight even -- information that comes to mind quickly when making decisions. It's a mental shortcut in processing information. Recent events, those that touch us personally, and those that are highly unusual come to mind more readily.In a conflict, if two people are trying to reach a decision, it's to be expected that both people are affected by availability bias. And, it's only logical, that this brain shortcut will lead them to slightly different or tremendously different results. Because they are processing different data. An awareness of this type of bias is an important first step by in itself. Next, we can slow ourselves down in the decision-making process. We can consider if we are giving too much weight to a piece of information or occurrence because it affected us, individually; because it was highly unusual (and thus the subject of lots of attention); or because it happened recently.Do you have comments or suggestions about a topic or guest? An idea or question about conflict management or conflict resolution? Let me know at jb@dovetailresolutions.com! And you can learn more about me and my work as a mediator and a Certified CINERGY® Conflict Coach at www.dovetailresolutions.com and https://www.linkedin.com/in/janebeddall/.Enjoy the show for free on your favorite podcast app or on the podcast website: https://craftingsolutionstoconflict.com/And you can follow us on Twitter @conflictsolving. 

Availability Heuristic aka Availability Bias is a very powerful cognitive bias which can influence our day to day decision making process and even our world view.

In this episode, I share how you can combat availability bias (something recent, frequent, or vivd) to help your clients make the best decisions.   The I Love Mortgage Brokering Network is now brought to you by Finmo. To learn more, visit: www.finmo.ca/ilmb   If you have any questions you want me to answer, send me an email at scott@ilovemortgagebrokering.com   I Love Mortgage Brokering: www.ilovemortgagebrokering.com   Find out more about the 10 Loans A Month Academy: www.10loansamonth.com   Find out more about ILMB Mortgage Pros: www.get10funded.com   Find out more about the $25 Million Dollar Blueprint: www.get25million.com

In this episode, I share how you can combat availability bias (something recent, frequent, or vivd) to help your clients make the best decisions.   If you're looking exclusively for "10 Loans a Month" episodes, subscribe to the "10 Loans a Month" podcast, available wherever you get your podcasts.   The I Love Mortgage Brokering Network is now brought to you by Finmo. To learn more, visit: www.finmo.ca/ilmb   If you have any questions you want me to answer, send me an email at scott@ilovemortgagebrokering.com   I Love Mortgage Brokering: www.ilovemortgagebrokering.com   Find out more about the 10 Loans A Month Academy: www.10loansamonth.com   Find out more about ILMB Mortgage Pros: www.get10funded.com   Find out more about the $25 Million Dollar Blueprint: www.get25million.com

On this episode of The Impatient Investor, Andrew explains what availability bias is and how it can impact investing choices. Whatever is dominating social media, the news or water cooler talk can easily influence investors' decision-making, and is in part how bubbles are created.

Huge transitions are happening for most people right now. As this occurs, our environments will change. Partially as a result of the availability bias, we'll also see peoples' behaviors and thought patterns will also change. We'll talk about how this bias works in today's episode.✨ Sponsor: LaunchDarklyToday's episode is sponsored by LaunchDarkly. LaunchDarkly is today’s leading feature management platform, empowering your teams to safely deliver and control software through feature flags. By separating code deployments from feature releases, you can deploy faster, reduce risk, and rest easy.

Series 2, Episode 16 and we look at the difference between working with sharks and cows by looking at the Availability Bias.

In this episode I talk about the availability bias.

Why we prefer a wrong map to no map at all

This week, we answered questions live about the topic "Availability bias".

Learning the truth about Availability Bias and how it affects your life.

Learn this week about the function inside our brain called availability bias.

We all have biases, and whether we are aware of them or not, they are directing our decisions moving forward or not moving at all. Jason Hartman shares the pros and cons of a few choice biases that play a significant role in your investment. As well as breaking down bias shared worldwide, Jason introduces some named and explicitly designed for investing. While regular listeners may be able to see the connection from episode to episode, these biases have multiple applications.  Meet The Masters Virtual: July 31 – August 2 JasonHartman.com/Masters Guests: Harry Dent, George Gammon, Sean Carroll Key Takeaways: [4:00] “If you choose not to decide, you have made a choice.” -Rush [8:30] Discussing the bogus real estate metric, that is, “return on equity. “ [10:00] Biases from the Chartered Financial Institute, CFA. [11:30] The Savings Bias [15:15] Opportunity Cost Bias [17:00] Over-confidence Bias [18:30] The Virtue of Selfishness, Ayn Rand [20:24] Love is Letting Go of Fear by Gerald G. Jampolsky [21:35] Availability Bias [22:15] Loss Aversion Bias [25:15] Breaking down bias into two categories; cognitive and emotional. [25:25] Endowment Bias [30:00] Introducing; The Compared To What Bias [33:00] Understanding the importance of a checklist, from the perspective of a pilot.  Websites: 1-800-HARTMAN JasonHartman.com/Webinar www.JasonHartman.com www.JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes)

Availability bias states that we put the most importance on our most recent or emotionally-laden memory. This can lead to us having difficulties coming up with solutions to issues that pop up in our relationships. Stephanie Sarkis PhD is the host of Talking Brains. www.stephaniesarkis.com

In this mini-series, we are going to talk about five cognitive biases and how they affect us in our financial decisions. Anchoring Bias refers to when a person latches onto the first piece of information they see or hear and end up being an "anchor" for new information that follows. Nathaniel mentioned how that effects him then it comes to investing in the stock market. To combat this bias: analyze historical data, but don't hold onto those historical conclusions. As one of our favorite quotes goes: "history doesn't repeat itself but it often rhymes." A cousin of the Anchoring Bias is Recency (Availability) Bias. This is a tendency to overvalue the latest information available. Dan pointed out how people are overly optimistic, and assume the market will always go up when times are good, and then go to the opposite extreme when times are bad. The key to avoid both biases is to gather information from different sides so that you can have a more comprehensive understanding. Tim explained how we can actually utilize these biases to our benefit when negotiating salary, buying a house, etc. We ended the podcast by recommending some of our favorite authors' books on these cognitive biases.

In this episode, I talk about six biases of our intuition that leads to poor decisions. They include- 1. Confirmation Bias. 2. Availability Bias. 3. Randomness Bias. 4. What you see is all there is. 5. Hindsight Bias. 6. Bias of false advice. To watch the subtitled version of this episode and to ask any questions, visit me on instagram @profundus.in

Weekly Grooves is the podcast where we explore topical issues through the lens of behavioral science. Tim Houlihan and Kurt Nelson, PhD have worked in the world of behavioral interventions for more than 20 years and we each run our own consultancies. In Weekly Grooves, we view the headlines through the lenses of behavioral science.The Iowa caucuses are on February 3, 2020, and the media is abuzz with who will win Iowa and take the “front runner lead” for the Democrats. So while we’re interested in the politics of this, we’re actually more interested in the psychology of being the “front runner” and what that entails.There are a number of behavioral factors that make the front-runner a great position:  The Bandwagon Effect – people want to be part of the winning team. The Availability Bias where the front runner gets more media exposure, making them more immediate in memory. The Mere Exposure Effect is how we tend to develop a preference for things merely because we are familiar with them. The Hot Hand Fallacy could also positively impact the person who wins – or even who beats expectations.  But being the front runner does not always lead to victory. In this episode, we’ll discuss how these play a role in our behaviors.© 2020 Weekly GroovesKurt Nelson, PhD: @whatmotivatesTim Houlihan: @THoulihanLinksAll Biases and Heuristics: https://docs.google.com/document/d/1XHpBr0VFcaT8wIUpr-9zMIb79dFMgOVFRxIZRybiftI/edit#Importance of being inspiring: http://www.leadershipchallenge.com/resource/inspire-a-shared-vision-how-important-is-inspiring.aspx

We all fall into this

What's more likely: death by shark attack, or death by lightning strike? The science suggests you'll choose “shark attack”… but that's not the right answer. So why do so many of us agree? It's called the availability bias: our tendency to assume that events that come easily to mind must be more common or true.

Here's a little memory test designed by psychologists Amos Tversky and Daniel Kahneman (1973) to reveal a cognitive blindspot. Try it for yourself, and listen to our podcast "The Availability Bias" to learn more about this quirky bias.

Post by Skyler J. Collins (Editor). Episode 006 looks at the Irrelevant Conclusion (ignoratio elenchi) fallacy, Availability Bias, our power to control our reaction to the seeming offenses of other people, and powering down your microwave for more even heating.

Learn what "Alignment Management" is all about and why it's critical for modern companies that want to stay competitive.

Alle machen es und fast keiner merkt es: Biases, Kognitive Verzerrungen oder auch sehr vereinfacht: Denkfehler. Bei über 20.000 Entscheidungen am Tag hat sich das Gehirn ein paar Pfade zurechtgetrampelt, die unbewusst ständig abgelaufen werden. Einige davon sind allerdings fehlerhaft bzw. führen zu Fehlentscheidungen oder -einschätzungen. Davon erzählen Sebastian und Jessica euch diesmal ausführlich und illustrieren diese mentalen Gehhilfen anhand einiger Beispiele. Von Überfällen im Park, Beyoncè, Amokläufen, Kindern im Keller, Liebe, Lotto und Darmspiegelungen - es ist alles dabei, was euer Herz höher schlagen lässt. Jetzt bleibt nur noch zu klären, wie oft Sebastian diesmal "eh" gesagt hat, wer mit Jessica das Seminar zum Thema "Debiasing" aufnimmt und warum gibt es HörsaalLeaks eigentlich, wo wir doch alle der digitalen Amnesie erliegen? Es bleibt spannend!Zur Nacharbeit:Die Woche kann man einiges nachlesen. Hier findet ihr schon mal Buster Bensons Übersicht bzw. Kodex.Und googelt mal: Kognitive Verzerrung, Biases, Kognition, Heuristik, Buster Benson, Christian Meyer, Availability Bias, Anchoring, Halo effect, Hindsight Bias, Escalation of commitment, Illusion of Control, Peak-End-Effect, Google effect, Third-person effect und den Bias blind spotEure Lieblings-Whistleblower

This week Dr. Alex talks about availability bias. Enjoy!   Have you known someone in your life that was pretty negative all the time? Or maybe, are you one of them? Today, you will hear a different kind of an episode. Dr Alex is going scientifically focused. He will explain why some people are more negative than others. How does one person get into a negative mindset? Is it innate for them or there are mechanisms on them that are not working. Dr. Alex is going to provide you with answers to your questions. You will hear him telling stories about the progress of humans. Listen in as you commit to living your life a different way. Not based on pleasure and avoiding pain, but based on what is right, true, and the best, no matter what. What you will discover on this episode What is availability bias The steps you have to take to recognize your bias How to adjust your point of view on your life issues Understanding how we get to where we at right now Ideas for improving our human mind condition Should we call memories an illusion Die or Kill?   Resources Enlightenment Now: The Case for Reason, Science, Humanism, and Progress by Steven Pinker Pessimists: The world is better than you think. Your brain makes you think otherwise

Why do the same bad investing decisions keep cropping up for some people? (1:00) - Are You a Trader or Long Term Investor? (5:00) - A Quiz on Your Psychology of Investing (10:45) - Should You Be Listening To Everything Your Advisor Says? (13:50) - What Should You Do With An Inheritance?  (21:15) - How To Navigate A Market Correction (25:10).- Loss Aversion, Confirmation and Availability Bias (35:40) - Long Term Investing vs. Short Term Trading (41:40) - Episode Roundup: Podcast@Zacks.com

Sometimes it seems as if danger lurks around every corner. News reports of events like plane crashes and shark attacks make grave risk to life and limb feel real and imminent. And while there’s no doubt that risk is a part of life, are these the types of events we should really be concerned about? On this episode of Choiceology with Dan Heath, we examine a bias that affects the way you perceive both risk and reward. We trace how this bias may have helped your ancestors avoid lions lurking in the tall grass—but may also negatively affect your decisions around things like vacations and lotteries. The episode begins with Ranie Pearce and her harrowing tale of adventure in the middle of the Pacific Ocean. Ranie Pearce is and accomplished open water swimmer and a member of the South End Rowing Club You’ll hear an experiment involving sharks—and something even more dangerous—at the Vancouver Aquarium in British Columbia. And Dan Gardner explains the psychological roots of our common misperceptions about risk and reward. He is the author of Risk: The Science and Politics of Fear You can find out how to reduce the influence of this bias in your financial decisions in an article called Easy Access: How the Availability Heuristic Hurts Our Judgments. Choiceology is an original podcast from Charles Schwab. For more on the series go to schwab.com/podcast If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts. (0418-8JKZ)

Beth Storz, President of Ideas To Go, joins colleague and co-author Adam Hansen on Episode 2 of the Outsmart Your Instincts Podcast. Listen as they discuss examples of—and define—Availability Bias and provide techniques to overcoming it during innovation. Availability Bias: how our minds retrieve information from the most recent memories first. Along with the most recent events, emotionally charged memories are also easily retrieved. In other words, what’s available is what’s easy to recall. Be sure to subscribe to stay up to date on everything Cognitive Biases and innovation!

Of all the mental tasks we suck at performing, estimating the likelihood of something really good or really bad happening is right up there. In this episode, Mel and Dan unpack the ingredients that lead to our terrible mental calculations, and discuss how we can reconfigure them to create more compelling ads

Have you ever heard the following: London is really safe – or I know someone who lives in the middle of the city and he never locks his door. Not even when he goes in holiday, his apartment has never being broken into. Or in the fly to New York, the pilot let the passengers know we that they have the map for California. Says this    We use phrase like these to try to prove something, but they actually prove nothing at all. This is the availability bias at work. Yes the availability bias: We create a picture of the world using the examples that most easily come to mind. we tend to be guided by our biology, and our attention flows effortlessly toward the sensational—not the relevant This has as direct consequence the fact that we travel through life with a wrong representation of risk map in our head. We see out there corporate executives in the boardroom- consultants, experts also victim of that, by using easy to obtain information than a more relevant and harder ones.    Just like the song of Frank Sinatra sang “OH, my heart is beating wildly/and it’s all because you are here/When I am not near the girl I love /I love the girl I am near”   How do you avoid the do you the availability bias? By spending time with people whose experiences and expertise are different than yours. Well we required others input to overcome the availability bias. Train yourself to spot the difference between the sensational and the empirical. This insulation from the toxicity of the world will have an additional benefit: it will improve your well-being. Above all, learn to avoid "tunneling." Those who spend too much time with their noses glued to maps will tend to mistake the map for the territory.Click on the link below to get your FREE Counter intuitive Natural Productivity Process