Podcast appearances and mentions of Sendhil Mullainathan

Jens Ludwig has an idea for how to fix America's gun violence problem — and it starts by rejecting conventional wisdom from both sides of the political aisle.  SOURCES:Jens Ludwig, professor of economics at the University of Chicago and director of the University of Chicago Crime Lab. RESOURCES:Unforgiving Places: The Unexpected Origins of American Gun Violence, by Jens Ludwig (2025)."Scope Challenges to Social Impact," by Monica Bhatt, Jonathan Guryan, Jens Ludwig, and Anuj Shah (National Bureau of Economic Research, 2021)."Citywide cluster randomized trial to restore blighted vacant land and its effects on violence, crime, and fear," by Charles Branas, Eugenia South, Michelle Kondo, Bernadette Hohl, Philippe Bourgois, Douglas Wiebe, and John MacDonald (Proceedings of the National Academy of Sciences, 2018)."Thinking, Fast and Slow? Some Field Experiments to Reduce Crime and Dropout in Chicago," by Sara Heller, Anuj Shah, Jonathan Guryan, Jens Ludwig, Sendhil Mullainathan, and Harold Pollack (Quarterly Journal of Economics, 2016).Thinking, Fast and Slow, by Daniel Kahneman (2013)."Homicide and Suicide Rates Associated With Implementation of the Brady Handgun Violence Prevention Act," by Jens Ludwig and Philip Cook (Journal of the American Medical Association, 2000).The Death and Life of Great American Cities, by Jane Jacobs (1992).The University of Chicago Crime Lab."Becoming a Man" (University of Chicago Crime Lab). EXTRAS:"Do the Police Have a Management Problem?" by Freakonomics Radio (2023)."From prison to Ph.D, this activist fights for peace in Chicago," by Kenya Downs (PBS News, 2016).

Rachel Nesbit talks about the effects of mandating mental health treatment for probationers. “The Role of Mandated Mental Health Treatment in the Criminal Justice System” by Rachel Nesbit. OTHER RESEARCH WE DISCUSS IN THIS EPISODE: “Calgary Diversion Program: A Community-Based Alternative to Incarceration for Mentally Ill Offenders” by Craig Mitton, Liz Simpson, Leslie Gardner, Fran Barnes, and Gerald McDougall. “Mental Health Treatment and Criminal Justice Outcomes” by Richard G. Frank and Thomas G. McGuire. “Thinking, Fast and Slow? Some Field Experiments to Reduce Crime and Dropout in Chicago" by Sara B. Heller, Anuj K. Shah, Jonathan Guryan, Jens Ludwig, Sendhil Mullainathan, and Harold A. Pollack. “Effectiveness of Using Incentives to Improve Parolee Admission and Attendance in Community Addiction Treatment” by Michael L. Prendergast, Elizabeth A. Hall, Jason Grossman, Robert Veliz, Liliana Gregorio, Umme S. Warda, Kory Van Unen, and Chloe Knight. “A Randomized Trial of the Effectiveness of Using Incentives to Reinforce Parolee Attendance in Community Addiction Treatment: Impact on Post-treatment Outcomes” by Elizabeth A. Hall, Michael L. Prendergast, and Umme Warda. “A Randomized Trial of Probation Case Management for Drug-involved Women Offenders” by Joseph Guydish, Monica Chan, Alan Bostrom, Martha A. Jessup, Thomas B. Davis, and Cheryl Marsh. “The First 90 Days Following Release from Jail: Findings from the Recovery Management Checkups for Women Offenders (RMCWO) Experiment” by Christy K. Scott and Michael L. Dennis. "Can Recidivism Be Prevented From Behind Bars? Evidence From a Behavioral Program" by William Arbour. Probable Causation Episode 102: William Arbour. “Reducing the Burden of Mental Illness on the Criminal Justice System: Evidence from Light-Touch Outreach” by Mary Kate Batistich, William N. Evans and David C. Phillips. Probable Causation Episode 67: David Phillips. “Mental Health and Criminal Involvement: Evidence from Losing Medicaid Eligibility” by Elisa Jácome. Probable Causation Episode 60: Elisa Jácome. "In-Kind Welfare Benefits and Reincarceration Risk: Evidence from Medicaid" by Marguerite Burns and Laura Dague. Probable Causation Episode 103: Marguerite Burns and Laura Dague.

Everyone is talking about A.I. now, but what we haven't heard is an updated, informed discussion of what, exactly, it will do to the sports world. So in our first on-stage episode, at the MIT Sloan Sports Analytics Conference, Pablo hosts an actual verified genius... and a pioneering NBA executive who gets to be sarcastically referred to as one. We discover how the Philadelphia 76ers already consult large language models, why artificial general intelligence is actually unambitious and much more. But rest assured: At this moment of tension between entertainment and efficiency, the forecast is Kyle Lowry with a chance of Gasol. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Everyone is talking about A.I. now, but what we haven't heard is an updated, informed discussion of what, exactly, it will do to the sports world. So in our first on-stage episode, at the MIT Sloan Sports Analytics Conference, Pablo hosts an actual verified genius... and a pioneering NBA executive who gets to be sarcastically referred to as one. We discover how the Philadelphia 76ers already consult large language models, why artificial general intelligence is actually unambitious and much more. But rest assured: At this moment of tension between entertainment and efficiency, the forecast is Kyle Lowry with a chance of Gasol. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Peter Hull talks about the effects of a jail-based education program called IGNITE. “'Something Works' in U.S. Jails: Misconduct and Recidivism Effects of the IGNITE Program” by Marcella Alsan, Arkey Barnett, Peter Hull, and Crystal Yang. OTHER RESEARCH WE DISCUSS IN THIS EPISODE: “What Works? Questions and Answers about Prison Reform” by Robert Martinson. “Incarceration, Recidivism, and Employment” by Manudeep Bhuller, Gordon B. Dahl, Katrine V. Løken, and Magne Mogstad. “Thinking, Fast and Slow? Some Field Experiments to Reduce Crime and Dropout in Chicago” by Sara B. Heller, Anuj K. Shah, Jonathan Guryan, Jens Ludwig, Sendhil Mullainathan, and Harold A. Pollack.

This week, Elon Musk—amidst his other duties of gutting United States federal government agencies as head of the “Department of Government Efficiency” (DOGE)—announced a hostile bid alongside a consortium of buyers to purchase control of OpenAI for $97.4 billion. OpenAI CEO Sam Altman vehemently replied that his company is not for sale.The artificial intelligence landscape is shifting rapidly. The week prior, American tech stocks plummeted in response to claims from Chinese company DeepSeek AI that its model had matched OpenAI's performance at a fraction of the cost. Days before that, President Donald Trump announced that OpenAI, Oracle, and Softbank would partner on an infrastructure project to power AI in the U.S. with an initial $100 billion investment. Altman himself is trying to pull off a much-touted plan to convert the nonprofit OpenAI into a for-profit entity, a development at the heart of his spat with Musk, who co-founded the startup.Bethany and Luigi discuss the implications of this changing landscape by reflecting on a prior Capitalisn't conversation with Luigi's former colleague Sendhil Mullainathan (now at MIT), who forecasted over a year ago that there would be no barriers to entry in AI. Does DeepSeek's success prove him right? How does the U.S. government's swift move to ban DeepSeek from government devices reflect how we should weigh national interests at the risk of hindering innovation and competition? Musk has the ear of Trump and a history of animosity with Altman over the direction of OpenAI. Does Musk's proposed hostile takeover signal that personal interests and relationships with American leadership will determine how AI develops in the U.S. from here on out? What does regulating AI in the collective interest look like, and can we escape a future where technology is consolidated in the hands of the wealthy few when billions of dollars in capital are required for its progress?Show Notes:On ProMarket, check out:Why Musk Is Right About OpenAI by Luigi Zingales, March 5, 2024Who Will Enforce AI's Social Purpose? By Roberto Tallarita, March 16, 2024

Most gun deaths aren't premeditated, so how can we stop gun violence before it happens? The University of Chicago economist Jens Ludwig makes the case for thinking differently about the source of America's gun-violence problem.  Further reading:  Unforgiving Places: The Unexpected Origins of American Gun Violence, by Jens Ludwig  Thinking, Fast and Slow, by Daniel Kahneman  Scarcity: Why Having Too Little Means So Much, by Sendhil Mullainathan and Eldar Shafir The study behind Ludwig's Good on Paper answer: “The Effect of Mentoring on School Attendance and Academic Outcomes: A Randomized Evaluation of the Check & Connect Program”   Get more from your favorite Atlantic voices when you subscribe. You'll enjoy unlimited access to Pulitzer-winning journalism, from clear-eyed analysis and insight on breaking news to fascinating explorations of our world. Subscribe today at TheAtlantic.com/podsub. Learn more about your ad choices. Visit megaphone.fm/adchoices

Roman Rivera talks about the effects of electronic monitoring for US pretrial defendants. “Release, Detain, or Surveil? The Effect of Electronic Monitoring on Defendant Outcomes” by Roman Rivera. OTHER RESEARCH WE DISCUSS IN THIS EPISODE: "The Effects of Pretrial Detention on Conviction, Future Crime, and Employment: Evidence from Randomly Assigned Judges" by Will Dobbie, Jacob Goldin, and Crystal S. Yang. “Criminal Recidivism after Prison and Electronic Monitoring” by Rafael Di Tella and Ernesto Schargrodsky. “Better at Home Than in Prison? The Effects of Electronic Monitoring on Recidivism in France” by Anaïs Henneguelle, Benjamin Monnery, and Annie Kensey. “Can Electronic Monitoring Reduce Reoffending?” by Jenny Williams and Don Weatherburn. Probable Causation Episode 79: Jenny Williams. “The Effects of Electronic Monitoring on Offenders and Their Families" by Julien Grenet, Hans Grönqvist, and Susan Niknami. "Human Decisions and Machine Predictions" by Jon Kleinberg, Himabindu Lakkaraju, Jure Leskovec, Jens Ludwig, Sendhil Mullainathan. "Algorithmic Risk Assessments and the Double-Edged Sword of Youth" by Megan T. Stevenson and Christopher Slobogin. "The Effects of Parental and Sibling Incarceration: Evidence from Ohio" by Samuel Norris, Matthew Pecenco, and Jeffrey Weaver.

Jess here, hosting my entire extended family for the holiday weekend and sending love to you and yours. Enjoy this #WriterGift flashback!It's the gifts episode! Here are the links you're looking for:KJ:Redbubble ❄️ Stamp blocks ❄️ Stamp blanks and stencils ❄️ Frixion Pens ❄️ Leuchterm plannerJess:Sarina's Socks ❄️ Half Broke by Ginger Gaffney (for KJ, but Jess loved it, too!) ❄️ Fillion planner cover by Little Mountain Bindery ❄️ Jess's favorite sticky tabs ❄️ Pens by Schneider ❄️ Sarina's stamp with the kinda-sorta True North Series three pine tree logo ❄️ The “Begin” mug Jess wants a case of.Sarina:Hedgehog Pencil Holder ❄️ Post-its that fit over planner months ❄️ Corkicle (it doesn't come with the sticker, sorry…)#AmReadingJess: Scarcity: The New Science of Having Less and How It Defines Our Lives by Sendhil Mullainathan and Eldar ShafirKJ: The Other Bennet Sister by Janice HadlowSarina: The Girl with Stars in Her Eyes by Xio AxelrodZowie! Thanks for listening. If you want to check out our last gift episodes (and guides), click the years: 2019 2018 2017.If you've got other ideas we should know about, share them in the #AmWriting Facebook group.And if you'd like to subscribe to the shownotes email or support the podcast, click the button.To give a subscription as a gift, click THIS button!Big news, #AmWriters: our guided Blueprint for a Book Challenge was such a hit this past summer that we're going to run it again in January! Plus, we're adding even more interactive elements so you can connect with other writers.It's a great way to start or refine a book idea, get some professional guidance from our Author Accelerator coaches, and stay motivated to do the hard work of thinking before you write.Whether you're writing fiction, nonfiction or memoir - this challenge could be just the thing you need. We will be launching in early January, so stay tuned to these podcasts for all the details, check the show notes, and make sure that you are a supporter of the #AmWriting Podcast, so that when it comes to January, you'll be ready to go. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit amwriting.substack.com/subscribe

Neel Doshi reveals how to build and sustain high performing cultures through total motivation. — YOU'LL LEARN — 1) The six motives at the root of culture 2) How to use metrics the wrong and right way 3) The questions that kill motivation Subscribe or visit AwesomeAtYourJob.com/ep1013 for clickable versions of the links below. — ABOUT NEEL — Neel is the co-founder of Vega Factor and co-author of bestselling book, Primed to Perform: How to Build the Highest Performing Cultures Through the Science of Total Motivation. Previously, Neel was a Partner at McKinsey & Company, CTO and founding member of an award-winning tech startup, and employee of several mega-institutions. He studied engineering at MIT and received his MBA from Wharton. In his spare time, he's an avid yet mediocre woodworker and photographer.• Book: Primed to Perform: How to Build the Highest Performing Cultures Through the Science of Total Motivation• Website: Factor.ai— RESOURCES MENTIONED IN THE SHOW — • Study: “Poverty impedes cognitive function” by Anandi Mani, Sendhil Mullainathan, Eldar Shafir, and Jiaying Zhao• Book: Pattern Breakers: Why Some Start-Ups Change the Future by Mike Maples and Peter Ziebelman— THANK YOU, SPONSORS! —• Lingoda. Visit try.lingoda.com/Awesome and save up to 20% off your sign up fee! Plus, get an extra $25 off with the code AWESOME • LinkedIn Jobs. Post your job for free at LinkedIn.com/beawesome• Jenni Kayne. Use the code AWESOME15 to get 15% off your order!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Revisiting Steve's 2021 conversation with the economist and MacArthur “genius” about how to make memories stickier, why change is undervalued, and how to find something new to say on the subject of scarcity. SOURCE:Sendhil Mullainathan, university professor of computation and behavioral science at the University of Chicago Booth School of Business. RESOURCES:"Fictional Money, Real Costs: Impacts of Financial Salience on Disadvantaged Students," by Claire Duquennois (American Economic Review, 2022)."Do Financial Concerns Make Workers Less Productive?" by Supreet Kaur, Sendhil Mullainathan, Suanna Oh, and Frank Schilbach (NBER Working Paper, 2022).Subtract: The Untapped Science of Less, by Leidy Klotz (2021)."Heads or Tails: The Impact of a Coin Toss on Major Life Decisions and Subsequent Happiness," by Steve Levitt (NBER Working Paper, 2016).Scarcity: Why Having Too Little Means So Much, by Sendhil Mullainathan and Eldar Shafir (2013)."The End of History Illusion," by Jordi Quoidbach, Daniel T. Gilbert, and Timothy D. Wilson (Science, 2013). EXTRAS:"Leidy Klotz on Why the Best Solutions Involve Less — Not More," by People I (Mostly) Admire (2021)."Sendhil Mullainathan Explains How to Generate an Idea a Minute," by People I (Mostly) Admire (2021).

As AI continues to permeate various aspects of society, its impact on decision-making, bias, and future technological developments is complex. How can we navigate the challenges posed by AI, particularly when it comes to fairness and bias in algorithms? What insights can be drawn from the intersection of economics, computer science, and behavioral studies to guide the responsible development and use of AI?In this episode, Sendhil Mullainathan, a prominent economist and professor, delves into these pressing issues. He shares his journey from computer science to behavioral economics and discusses the role of AI in shaping the future of decision-making and societal structures. Sendhil provides a nuanced view of algorithmic bias, its origins, and the challenges in mitigating it. He also explores the potential and pitfalls of AI in healthcare and policymaking, offering insights into how we can harness AI for the greater good while being mindful of its limitations.0:00 - Start1:51 - Introducing Sendhil14:20 - Algorithmic bias29:20 - Handling Bias41:57 - AI and Decision Making57:01 - AI in our Future1:02:29 - Conclusion and the last question

Chapter 1What is ScarcityIn the thought-provoking book Scarcity by Sendhil Mullainathan, readers are taken on a journey to explore the powerful effects of scarcity on our decision-making and behavior. Through engaging storytelling, Mullainathan highlights how experiencing scarcity – whether it be for time, money, or any other resource – can lead to tunnel vision, making it difficult to see beyond immediate needs. This narrow focus can have profound implications, leading to poor decision-making and reinforcing a cycle of scarcity. By understanding the psychology behind scarcity, readers are encouraged to reevaluate how they approach scarcity in their own lives and make more informed choices. Scarcity is not just about lacking something; it's about how that lack impacts our thoughts and actions. Mullainathan's insights provide a fresh perspective on an age-old problem, shedding light on the complexities of scarcity and its far-reaching consequences.Chapter 2 Meet the Writer of ScarcitySendhil Mullainathan masterfully utilizes his writing skills and language style to effectively convey the emotions and meanings of scarcity. Through his concise and engaging writing, he is able to capture the feeling of lack and deprivation that comes with scarcity, while also highlighting the impactful consequences it can have on individuals and societies. Mullainathan's use of clear and relatable language helps readers easily connect with the subject matter, driving home the importance of understanding and addressing the challenges of scarcity. Overall, his adept use of writing and language enhances the reader's experience and deepens their understanding of this complex and pervasive issue.Chapter 3 Deeper Understanding of ScarcityScarcity has had a profound influence on literature, culture, and society throughout history. The concept of scarcity, or the limited availability of resources, has often been a central theme in literature, reflecting the struggles and tensions that arise when resources are limited. This concept has also played a significant role in shaping cultural values and societal structures.In literature, scarcity is often a driving force behind characters' actions and motivations. Whether it be a scarcity of food, money, or love, authors use scarcity to create conflict and drive plots forward. In dystopian literature, scarcity is often a central theme, highlighting the consequences of a society where resources are scarce and competition for them is fierce.In culture, scarcity has influenced everything from art to fashion. In times of scarcity, people have had to find creative ways to make do with limited resources, leading to the development of unique art forms and styles. Scarcity has also shaped cultural values, with some societies valuing frugality and resourcefulness in the face of scarcity.In society, scarcity has had a significant impact on fields such as economics and politics. The concept of scarcity is central to economic theory, influencing decisions about resource allocation and distribution. Scarcity has also played a role in shaping political systems, with debates about how to address scarcity often at the center of policy discussions.Overall, scarcity has had a lasting influence on literature, culture, and society, shaping the way people think and behave in the face of limited resources. As societies continue to grapple with issues of scarcity, its influence is likely to remain a central theme in a wide range of fields.Chapter 4 Other Accessible Resources1. "Scarcity: The New Science of Having Less and How It Defines Our Lives" by Sendhil Mullainathan on Amazon2. "Scarcity: The New Science of Having Less and How It Defines Our Lives" book review on The New York Times3. "The Mental Strain of Making Do With Less" article on NPR discussing Sendhil...

Greetings listeners! It is a pleasure to introduce this week's guest on the podcast, Ashesh Rambachan, an assistant professor of economics at MIT. I wanted to talk to Ashesh for two main reasons. First, because I wanted to, and second, because I was aware of some of his recent work in econometrics. His recent article on evaluating the fragility of parallel trends in difference-in-differences just came out in the Review of Economic Studies. I'm also intrigued by his work with Sendhil Mullainathan on machine learning, algorithmic fairness as well as generative AI. Having a specialist in both causal inference, artificial intelligence and machine learning is rare, so I thought sitting down with him to learn more about his story would be a lot of fun, not just for me, but for others too. With that said, here you go! I hope you enjoy the interview! Thank you again for all your support!Scott's Substack is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Get full access to Scott's Substack at causalinf.substack.com/subscribe

In this episode I'm joined by Collette Philip who runs multi award-winning anti-racist brand and strategy consultancy, Brand By Me. Brand by Me help organisations harness the power of brand strategy to embed anti-racism, drive equity and tackle injustice. In the first half of the podcast we hear from Collette about social justice, social responsibility through the work of her consultancy, we discuss what this means for small and micro businesses and Collette leads by example sharing how she's audited her own consultancy which is now in it's eighth year, and how you can do the same. In the second half we start to think about online spaces, racism, psychological safety and positionality (and why this is more helpful than thinking of privilege), and we do this by taking a look the words one of my black participants used to describe being 'pushed up a ladder' and how harmful ultra visibility can be for black women in online spaces when leaders expect minoritised people to work for free to effect change. This is honestly such a brilliant conversation, with metaphors about sharks, scarcity mindset and much more. Collette and I mention the following people, and reccomend their books and blogs as further readingSkin In The Game by Nassim Nicholas Taleb Nova Reid on substack Sway by Pragya AgarwalScarcity by Sendhil Mullainathan and Eldar ShafirYou can also find Collettes blog 'Doing the work' over on substack For more psychological insights and to connect with Leila Ainge, visit www.leilaainge.co.uk and follow her on Instagram @leilaainge / Linkedin and substackPsychologically Speaking is proudly produced by Buckers at Decibelle Creative www.decibellecreative.com / @decibelle_creative / Linkedin

Oeindrila Dube is the Philip K. Pearson Professor at the University of Chicago's Harris School of Public Policy. http://odube.net In this episode, we discuss Prof. Dube's research on a cognitive behavioral training program for police.   “A Cognitive View of Policing” by Oeindrila Dube, Sandy Jo MacArthur, and Anuj Shah. https://www.dropbox.com/scl/fi/ktomnokei9m85dodec63b/A_Cognitive_View_of_Policing_August11.pdf?rlkey=npv33jc9pd639q9ebq95ljktg&dl=0 Other research we discuss in this episode:  "Thinking, fast and slow? Some field experiments to reduce crime and dropout in Chicago" by Sara B. Heller, Anuj K. Shah, Jonathan Guryan, Jens Ludwig, Sendhil Mullainathan, and Harold A. Pollack. https://doi.org/10.1093/qje/qjw033 "Can You Build a Better Cop?" by Emily Owens, David Weisburd, Karen L. Amendola, and Geoffrey P. Alpert.  https://doi.org/10.1111/1745-9133.12337 "The Impacts of Implicit Bias Awareness Training in the NYPD" by Robert E. Worden, Sarah J. McLean, Robin S. Engel, Hannah Cochran, Nicholas Corsaro, Danielle Reynolds, Cynthia J. Najdowski, and Gabrielle T. Isaza.  https://www.nyc.gov/assets/nypd/downloads/pdf/analysis_and_planning/impacts-of-implicit-bias-awareness-training-in-%20the-nypd.pdf "The impact of implicit bias-oriented diversity training on police officers' beliefs, motivations, and actions" by Calvin K. Lai and Jaclyn A. Lisnek. https://doi.org/10.1177/09567976221150617 "Does De-escalation Training Work?" by Robin S. Engel, Hannah D. McManus, and Tamara D. Herold.  https://doi.org/10.1111/1745-9133.12467 "Assessing the Impact of De-escalation Training on Police Behavior: Reducing Police Use of Force in the Louisville, KY Metro Police Department" by Robin S. Engel, Nicholas Corsaro, Gabrielle T. Isaza, and Hannah D. McManus. https://doi.org/10.1111/1745-9133.12574 “Reducing crime and violence: Experimental evidence from cognitive behavioral therapy in Liberia” by Christopher Blattman, Julian C. Jamison, and Margaret Sheridan. https://www.aeaweb.org/articles?id=10.1257%2Faer.20150503 "Can Recidivism Be Prevented From Behind Bars? Evidence From a Behavioral Program" by William Arbour. https://github.com/williamarbour/JMP/blob/main/JMP_WilliamArbour_recent.pdf Probable Causation Episode 102: William Arbour https://www.probablecausation.com/podcasts/episode-102-william-arbour "Peer Effects in Police Use of Force" by Justin E. Holz, Roman G. Rivera, and Bocar A. Ba. https://www.aeaweb.org/articles?id=10.1257/pol.20200227 "The Effect of Field Training Officers on Police Use of Force" by Chandon Adger, Matthew Ross, and CarlyWill Sloan. https://github.com/carlywillsloan/FTO/blob/main/training_220314%20(11).pdf Probable Causation Episode 90: Matthew Ross https://www.probablecausation.com/podcasts/episode-90-matthew-ross

Sendhil Mullainathan does a lot of things, and he does them well. He's a professor of Computation and Behavioral Science at the University of Chicago's Booth School of Business. I originally talked to Sendhil for our podcast series, They Thought We Were Ridiculous. He was well-positioned to give his perspective on a contentious, interdisciplinary field of social science called “behavioral economics.” But nowadays, behavioral economics is mainstream, but Sendhil has continued to study big questions that cut across the typical academic boundaries between disciplines. We talk about AI, economics, and racial bias.You can listen to our full series on behavioral economics here (Sendhil's voice pops up in episodes 3 and 4).Also, the study we discuss testing racial discrimination in hiring practices was first reported in this 2003 paper in American Economic Review.For a transcript of this episode, visit this episode's page at: http://opinionsciencepodcast.com/episodes/Learn more about Opinion Science at http://opinionsciencepodcast.com/ and follow @OpinionSciPod on Twitter.

In the episode of The Brainy Business podcast, Cass Sunstein, a renowned legal scholar and behavioral economist, joined host Melina Palmer to discuss his new book, Look Again, and the concept of habituation and its impact on decision-making. Cass' extensive work in government and with businesses has provided him with a deep understanding of human behavior, making his insights invaluable for business leaders and decision-makers. The conversation delved into the significance of habituation, exploring how individuals become less sensitive to stimuli over time.  Cass highlighted the value of exploration and exploitation in learning and decision-making, emphasizing the impact of emotions on behavior and the role of diversity in decision-making processes. The episode provides valuable insights into how businesses can apply behavioral economics principles to enhance decision-making processes, ultimately shaping choices presented to individuals and influencing behavior in beneficial ways. Cass' expertise and perspectives make this episode a must-listen for business leaders seeking to understand and leverage human behavior insights for enhanced decision-making. In this episode: Understand the psychology behind decision-making for strategic advantage. Harness habituation to gain insights into customer perception and behavior. Appreciate the power of dishabituation for uncovering hidden opportunities. Master the balance between exploration and exploitation for effective learning. Leverage nudges to influence decision-making and drive positive outcomes. Show Notes: 00:00:00 - Introduction, Melina introduces Cass Sunstein, his background in behavioral economics, and his newest book Look Again. 00:04:26 - The power of habituation Cass explains the concept of habituation and its impact on how we perceive the world around us, using examples from everyday life. 00:06:15 - The importance of dishabituation Cass discusses the importance of dishabituation in appreciating the good things in life and addressing challenges, using examples from personal experiences and historical figures. 00:13:27 - Creativity and the Fosbury Flop Cass explores the concept of creativity and the importance of critical distance from existing practices, using the example of Olympic athlete Dick Fosbury and his innovative high jump technique. 00:15:56 - Fosbury Flop in Government Cass shares examples of how the Fosbury Flop concept has been applied in the government to drive innovation and improve efficiency, using specific policy examples. 00:16:36 - Creativity and Disruption Cass discusses how global entry and TSA precheck were developed by creative people, like disruptors who refuse to habituate and bring ideas from other areas. 00:17:43 - Exploration vs. Exploitation Cass explains the difference between exploiters and explorers, where exploiters stick to what they know, while explorers seek new experiences and habituate quickly. 00:21:07 - Bill Gates vs. Warren Buffett Cass shares how Bill Gates' wide-ranging reading list reflects an explorer, while Warren Buffett's focused recommendations align with an exploiter. 00:25:19 - Tips for Writing and Co-Authoring Cass advises to follow your excitement for a project, start writing even if it's difficult, and find co-authors who are enjoyable to work with and bring out the best in each other. 00:33:38 -  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 Cass:  X  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: Look Again, Cass Sunstein and Tali Sharot Nudge, Richard Thaler and Cass Sunstein Scarcity, Sendhil Mullainathan and Eldar Shafir  Possession, A.S. Byatt Radical Uncertainty, John Kay and Mervyn King Top Recommended Next Episode: Optimism Bias (ep 34) Already Heard That One? Try These:  Nudge (ep 35) Incentives (ep 272) Understanding Mapping (ep 294) Defaults (ep 38) Give Feedback (ep 40) Expect Error (ep 362) Sludge (ep 179) Normalcy Bias (ep 370) Habits (ep 256) Wendy Wood Interview (ep 127) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  

Aurelie Ouss talks about using insights from behavioral economics to reduce failures-to-appear in court. This episode was first posted in January 2020. "Nudging Crime Policy: Reducing Failures to Appear for Court" by Alissa Fishbane, Aurelie Ouss, and Anuj K. Shah. (Available from the authors upon request.) Related policy paper: "Using Behavioral Science to Improve Criminal Justice Outcomes: Preventing Failures to Appear in Court" by Brice Cook, Binta Zahra Diop, Alissa Fishbane, Jonathan Hayes, Aurelie Ouss, and Anuj Shah. OTHER RESEARCH WE DISCUSS IN THIS EPISODE: "Bail, Jail, and Pretrial Misconduct: The Influence of Prosecutors" by Aurelie Ouss and Megan T. Stevenson. “Distortion of Justice: How the Inability to Pay Bail Affects Case Outcomes” by Megan T. Stevenson. “The Effects of Pretrial Detention on Conviction, Future Crime, and Employment: Evidence from Randomly Assigned Judges” by Will Dobbie, Jacob Goldin, and Crystal S. Yang. “The Unintended Impact of Pretrial Detention on Case Outcomes: Evidence from New York City Arraignments” by Emily Leslie and Nolan G. Pope. “The Downstream Consequences of Misdemeanor Pretrial Detention” by Paul Heaton, Sandra Mayson, and Megan Stevenson. Episode 4 of Probable Causation: Megan Stevenson "Thinking, Fast and Slow? Some Field Experiments to Reduce Crime and Dropout in Chicago" by Sara B. Heller, Anuj K. Shah, Jonathan Guryan, Jens Ludwig, Sendhil Mullainathan, and Harold A. Pollack. “Behavioral Biases and Legal Compliance: A Field Experiment” by Natalia Emanuel and Helen Ho.

In this episode of The Brainy Business Podcast, Melina Palmer digs into the psychology of time pressure and its effects on decision-making. She explains how time pressure creates a sense of scarcity and triggers loss aversion in the brain, leading to impulsive choices, especially during holiday shopping. Melina shares strategies to combat this, like setting a budget and creating a gift list to resist impulse buying. She also delves into how businesses can use time pressure to drive sales but emphasizes the need to test different approaches.  Melina also touches on the impact of time pressure on creativity and productivity, highlighting the importance of clear communication to reduce misunderstandings and time pressure. Her advice is helpful for anyone looking to make informed decisions and resist impulse buying during holiday shopping. Plus, her insights on leveraging time pressure for business are equally valuable. So, if you want to understand the psychology of time pressure and how to navigate it, this episode is definitely worth a listen! In this episode: Discover the psychology of time pressure to understand its impact on decision-making. Explore the influence of time pressure on consumer behavior and decision-making processes. Learn effective strategies to resist impulse buying and make informed purchasing decisions. Uncover how to leverage time pressure in marketing to drive consumer engagement and action. Find ways to reduce time pressure for increased productivity and better decision-making. Show Notes: 00:00:00 - Introduction This episode introduces the topic of time pressure and its impact on consumer behavior and decision-making. Melina shares her personal experience of feeling time pressure while buying concert tickets. 00:03:35 - The Complexity of Decision-Making The subconscious brain makes the majority of our decisions due to its faster processing speed. However, considering every facet of a decision would be overwhelming. Time pressure can lead to less effective decision-making and reduce creativity. 00:07:41 - Time Pressure and Consumer Behavior Time pressure during the holidays can influence consumer behavior. Limited quantities, daily deals, and shopping cart clocks create a sense of urgency. Under time pressure, people are more likely to make impulsive purchases and choose familiar, expensive options. 00:09:52 - Shifting Decision-Making Under Time Pressure Time pressure can reverse how we evaluate choices. With plenty of time, we tend to be risk-averse and focus on the risks of making a choice. However, under time pressure, we become loss-averse and fear missing out (FOMO), leading to impulsive buying behavior. 00:10:43 - Tips for Managing Time Pressure To manage time pressure during holiday shopping, create a gift list with spending limits. Plan ahead and have a list of stores to visit or browse online. Having a plan helps resist impulsive purchases and stay within budget. 00:15:52 - Importance of Promotions and Offers Promotions and offers are beneficial for businesses as they help consumers make decisions. Time pressure can be incorporated through discounts or limited-time offers, creating a sense of urgency. Countdowns and limited quantities also drive action. 00:18:15 - Effect of Time Pressure on Consumer Behavior Time pressure impacts decision-making by shifting individuals from being risk averse to loss averse. The perception of limited time changes behavior and motivates action. People are more likely to act quickly when faced with the possibility of missing out on an opportunity. 00:20:25 - Black Friday Deals and Year-End Offers Small businesses should consider if participating in Black Friday or year-end offers is necessary or beneficial. While big retailers are expected to have such deals, small businesses might get lost in the clutter. It's important to be thoughtful and not feel pressured to offer discounts that may result in operating at a loss. 00:22:53 - Impact of Time Pressure on Decision-Making Time pressure causes individuals to focus on extremes and make decisions based on worst-case and best-case scenarios. This may lead to less creativity and accuracy in decision-making. Working with more time allows for better planning and higher-quality outcomes. 00:26:41 - Overcoming Mindset Blocks and Alleviating Time Pressure Constantly being under time pressure can hinder productivity and quality of work. Overcoming mindset blocks and planning effectively can alleviate time pressure and improve creativity and decision-making.  00:31:02 - Evaluating Time Pressure Taking time to evaluate the impact of time pressure and asking key questions can help make confident decisions and use time pressure to your advantage. 00:31:53 - The Effects of Time Pressure Time pressure can hinder creativity, openness to change, and solid work in businesses. Clear communication and reducing unnecessary tasks can help alleviate time pressure. 00:33:02 - Misunderstood Emails Misunderstood emails contribute to wasted time and decreased productivity. Improving email clarity and simplicity can help reduce time pressure. 00:33:39 - Tips to Reduce Time Pressure Implementing strategies like clearer communication, simpler answers, and reducing unnecessary tasks can save significant time for employees. 00:34:46 - 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: Two Weeks Notice, by Amy Porterfield What Your Customer Wants and Can't Tell You, by Melina Palmer What Your Employees Need and Can't Tell You, by Melina Palmer The Power of Scarcity, by Mindy Weinstein Scarcity, by Sendhil Mullainathan and Eldar Shafir  Top Recommended Next Episode: What Your Employees Need and Can't Tell You launch (ep 225)  Already Heard That One? Try These:  The Overwhelmed Brain and Its Impact on Decision Making (ep 358) Behavioral Economics Foundations: Loss Aversion (ep 316) Behavioral Economics Foundations: Framing (ep 296) How To Set Up Your Own Experiments (ep 63) How to Set, Achieve & Exceed Brainy Goals (ep 70) Behavioral Economics Foundations: Nudges and Choice Architecture (ep 35) Overview of Personal Biases (ep 45) Behavioral Economics Foundations: Scarcity (ep 270) What is Value? (ep 234) Behavioral Economics Foundations: Herding (ep 264) Mindy Weinstein Interview (ep 271) What Your Customer Wants and Can't Tell You (ep 147) The Truth About Pricing (ep 356) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Judgment and Decision Making Under Time Pressure Decision Making Under Time Pressure: A Model for Information Systems Research This Is Your Brain ‘On Sale' Decisions under Time Pressure: How Time Constraint Affects Risky Decision Making Searching for a Better Deal: on the Influence of Group Decision Making, Time Pressure and Gender in a Search Experiment The Effects of Time Pressure and Completeness of Information on Decision Making

William Arbour talks about how prison-based behavioral programs in Canada affect recidivism. "Can Recidivism Be Prevented From Behind Bars? Evidence From a Behavioral Program" by William Arbour. OTHER RESEARCH WE DISCUSS IN THIS EPISODE: “Thinking, fast and slow? Some field experiments to reduce crime and dropout in Chicago” by Sara B. Heller, Anuj K. Shah, Jonathan Guryan, Jens Ludwig, Sendhil Mullainathan, and Harold A. Pollack. “Reducing crime and violence: Experimental evidence from cognitive behavioral therapy in Liberia” by Christopher Blattman, Julian C. Jamison, and Margaret Sheridan. Probable Causation Episode 23: Lelys Dinarte. "One Size Doesn't Fit All – The Heterogeneous Effects of Prison Programs" by Michael LaForest-Tucker. [Working paper available from the author.] "Can Restorative Justice Conferencing Reduce Recidivism? Evidence From the Make-it-Right Program" by Yotam Shem-Tov, Steven Raphael, and Alissa Skog.

The firing, and subsequent rehiring, of OpenAI CEO Sam Altman raises fundamental questions about whose interests are relevant to the development of artificial intelligence and how these interests should be weighed if they hinder innovation. How should we govern innovation, or should we just not govern it at all? Did capitalism "win" in the OpenAI saga?Bethany and Luigi sit down with Luigi's colleague Sendhil Mullainathan, a professor of Computation and Behavioral Science at Chicago Booth. Together, they discuss if AI is really "intelligent" and whether a profit motive is always bad. In the process, they shed light on what it means to regulate in the collective interest and if we can escape the demands of capitalism when capital is the very thing that's required for progress.

Should you become an artist or an accountant? Did Sylvia Plath have to be depressed to write The Bell Jar? And what can Napoleon Dynamite teach us about the creative life? RESOURCES:"The Science of Why You Have Great Ideas in the Shower," by Stacey Colino (National Geographic, 2022)."So, You Think You're Not Creative?" by Duncan Wardle (Harvard Business Review, 2021)."The Correlation Between Arts and Crafts and a Nobel Prize," by Rosie Cima (Priceonomics, 2015)."Report: State of the American Workplace," by Gallup (2014)."Poverty Impedes Cognitive Function," by Anandi Mani, Sendhil Mullainathan, Eldar Shafir, and Jiaying Zhao (Science, 2013)."Forks in the Road: The Many Paths of Arts Alumni," by the Strategic National Arts Alumni Project (2011)."A Meta-Analysis of 25 Years of Mood-Creativity Research: Hedonic Tone, Activation, or Regulatory Focus?" by Matthijs Baas, Carsten K. W. De Dreu, and Bernard A. Nijstad (Psychological Bulletin, 2008)."The Relationship Between Creativity and Mood Disorders," by Nancy C. Andreasen (Dialogues in Clinical Neuroscience, 2008)."The Broaden-and-Build Theory of Positive Emotions," by Barbara Fredrickson (Philosophical Transactions of the Royal Society B, 2004)."Happiness and Creativity: Going With the Flow," by Mihaly Csikszentmihalyi (The Futurist, 1997).EXTRAS:"Why Are Rich Countries So Unhappy?" by No Stupid Questions (2022)."Do You Really Need a Muse to Be Creative?" by No Stupid Questions (2021)."Does All Creativity Come From Pain?" by No Stupid Questions (2020)."How To Be Creative," series by Freakonomics Radio (2018-2019)."How to Be Happy," by Freakonomics Radio (2018).Napoleon Dynamite, film by Jared Hess (2004).The Bell Jar, by Sylvia Plath (1963).Connections, game by The New York Times. 

Episode 114: Kender du at være lav på ressourcer?  Når man mangler noget, så får man et knaphedsmindset og det betyder at man hele tiden har fokus på lige netop den ressource som man ikke har nok af. Og når man har så meget fokus på en ting, så ser man ikke alt det andet der også er i ens liv. At leve i knaphed gør at man mister perspektivet og lever meget fra den ene dag til den næste. Og det er det vi taler om i denne episode.  Hack:  Tænk langsigtet og vid at knaphed gør at man tænker kortsigtet. Vær bevidst om at det er omstændighederne og ikke dig, der er årsag til vedvarende knaphed i dit liv.Vid at det er svært og dine omstændigheder ville også gøre det svært for andre i samme situation. Det er omstændighederne der spænder ben for dig og derfor gælder det om at søge mod ændring af omstændighederne. Gør det du kan og som virker for dig: 1. Udvid dit perspektiv, din horisont, dit syn på alle leder og kanter. Søg at undgå tunnelsynet,  som opstår, når man oplever knaphed i sit liv. 2. Spørg om hjælp. Ræk ud. Outsource til dine ressourcer med at få dig på ret fode igen.   Referencer: Tedx Midatlantic2011: 'Living under Scarcity' with Eldar Shafier. Hidden Brain:  'Tunnel Vision' (Podcast vært Shankar Vedantam)Sekundære kilder:De kommer på inden for de næste 14 dageTak til Yuiliana Wijaya fra Yuliana Music Studio for musikken.Følg os eventuelt på Misforståetpodcast på InstagramOg endnu vigtigere T A K fordi du lytter med. Venlig hilsen Laura og Pia fra Misforstået-podcast

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Elisa Jácome talks about how access to mental health care affects criminal behavior. This episode was first posted in November 2021. “Mental Health and Criminal Involvement: Evidence from Losing Medicaid Eligibility” by Elisa Jácome. OTHER RESEARCH WE DISCUSS IN THIS EPISODE: “Homeward: Life in the Year After Prison” by Bruce Western. “Thinking, Fast and Slow? Some Field Experiments to Reduce Crime and Dropout in Chicago” by Sara B. Heller, Anuj K. Shah, Jonathan Guryan, Jens Ludwig, Sendhil Mullainathan, and Harold A. Pollack. ”Youth depression and future criminal behavior” by D. Mark Anderson, Resul Cesur, and Erdal Tekin. “Substance Abuse Treatment Centers and Local Crime” by Samuel R. Bondurant, Jason M. Lindo, and Isaac D. Swensen. ”The FDA and ABCs Unintended Consequences of Antidepressant Warnings on Human Capital” by Susan Busch, Ezra Golberstein, and Ellen Meara. ”Consequences of Eliminating Federal Disability Benefits for Substance Abusers” by Pinka Chatterji and EllenMeara. ”Long-Term Consequences of Childhood ADHD on Criminal Activities” by Jason Fletcher and Barbara Wolfe. “A Cure for Crime? Psycho-Pharmaceuticals and Crime Trends” by Dave E. Marcotte,Sara Markowitz. ”Psychiatric Disorders in Youth in Juvenile Detention” by Linda A. Teplin, Karen M. Abram, Gary M. McClelland, Mina K. Dulcan, and Amy A. Mericle. ”Access to Health Care and Criminal Behavior: Short-Run Evidence from the ACA Medicaid Expansions” by Jacob Vogler. ”The effect of medicaid expansion on crime reduction: Evidence from hifa-waiver expansions” by Hefei Wen, Jason M. Hockenberry, Janet R. Cummings. ”The Effect of Public Health Insurance on Criminal Recidivism” by Erkmen Giray Aslim, Murat C. Mungan, Carlos Navarro, and Han Yu. ”The effect of health insurance on crime: Evidence from the affordable care act medicaid expansion” by Qiwei He and Scott Barkowski. “Local access to mental healthcare and crime” by Monica Deza, Johanna Catherine Maclean, and Keisha T. Solomon. “The Impact of Youth Medicaid Eligibility on Adult Incarceration” by Samuel Arenberg, Seth Neller, and Sam Stripling. “The Health Effects of Prison” by Randi Hjalmarsson and Matthew Lindquist. Probable Causation Episode 41: Matthew Lindquist.

Chapter 1 What is Scarcity about"Scarcity: Why Having Too Little Means So Much" is a book written by Sendhil Mullainathan and Eldar Shafir. It explores the concept of scarcity and its impact on individuals' thoughts, behaviors, and overall well-being. The authors argue that scarcity, whether it is related to time, money, or other resources, creates a cognitive load that impairs decision-making and leads to a perpetuation of poverty and disadvantage. The book delves into various aspects of scarcity, including its effects on attention, focus, and cognitive bandwidth. It also examines how scarcity affects individuals across different domains of life, such as education, health, and personal finances. The authors provide numerous real-life examples and research findings to illustrate the profound and often unexpected consequences of living with limited resources. Through their analysis, Mullainathan and Shafir highlight the importance of understanding the psychology of scarcity and offer insights into how policies and interventions can be designed to mitigate its negative effects. By shedding light on the complexities of scarcity, the book encourages readers to reconsider their perceptions of poverty and consider new strategies for addressing its underlying causes. Overall, "Scarcity: Why Having Too Little Means So Much" offers a thought-provoking exploration of the psychological, social, and economic implications of scarcity. It provides valuable insights into the ways in which scarcity shapes our lives and presents opportunities for creating positive change.Chapter 2 Is Scarcity A Good Book"Scarcity: Why Having Too Little Means So Much" by Sendhil Mullainathan and Eldar Shafir is generally well-regarded and has received positive reviews. The book explores the concept of scarcity and its impact on various aspects of our lives, such as cognitive bandwidth, decision-making, and poverty. It delves into how scarcity affects our ability to focus, plan for the future, and make rational choices. By examining scarcity through psychological and economic lenses, the authors provide insights into its consequences and potential solutions. If you're interested in understanding the effects of scarcity and gaining a deeper understanding of its implications, "Scarcity" may be worth considering. However, reading reviews, summaries, or excerpts can help you decide if it aligns with your specific interests and expectations.Chapter 3 Scarcity ReviewThis article delves into the concept of scarcity and its profound effects on various aspects of our lives, drawing inspiration from the book titled [Book Title]. Through an exploration of scarcity's implications on economics, psychology, decision-making, and resource allocation, we uncover the complexities and challenges associated with limited resources. By understanding the principles behind scarcity, readers can gain valuable insights into how it shapes our behavior, influences markets, and offers opportunities for innovative solutions.Chapter 4 Author of Scarcity The book "Scarcity: Why Having Too Little Means So Much" is co-authored by Sendhil Mullainathan and Eldar Shafir. It was first published in 2013. Sendhil Mullainathan is an economist and professor of Computation and Behavioral Science at the University of Chicago Booth School of Business. He has made significant contributions to the field of behavioral economics and has received numerous awards for his work,...

Marcella Alsan talks about how Secure Communities affected take-up of safety net programs. “Fear and the Safety Net: Evidence from Secure Communities” by Marcella Alsan and Crystal S. Yang. *** Probable Causation is part of Doleac Initiatives, a 501(c)(3) nonprofit. If you enjoy the show, please consider making a tax-deductible contribution. Thank you for supporting our work! *** OTHER RESEARCH WE DISCUSS IN THIS EPISODE: “Immigration Enforcement and Economic Resources of Children with Likely Unauthorized Parents” by Catalina Amuedo-Dorantes, Esther Arenas-Arroyo, and Almudena Sevilla. “Distributing the Green (Cards): Permanent Residency and Personal Income Taxes After the Immigration Reform and Control Act of 1986” by Elizabeth Cascio and Ethan Lewis. “Inside the Refrigerator: Immigration Enforcement and Chilling in Immigrant Medicaid Participation” by Tara Watson. “Immigration and the Welfare State: Immigrant Participation in Means-Tested Entitlement Programs” by George Borjas and Lynette Hilton. “Network Effects and Welfare Cultures” by Marianne Bertrand, Erzo Luttmer, and Sendhil Mullainathan. “Understanding the Quality of Alternative Citizenship Data Sources for the 2020 Census” by J. David Brown, Misty Heggeness, Suzanne Dorinski, and Lawrence Warren. “Does Welfare Prevent Crime? The Criminal Justice Outcomes of Youth Removed from SSI” by Manasi Deshpande and Michael Mueller-Smith. “Does Immigration Enforcement Reduce Crime? Evidence from Secure Communities” by Thomas J. Miles and Adam B. Cox. “Unintended Consequences of Immigration Enforcement: Household Services and High-Educated Mothers' Work” by Chloe East and Andrea Velasquez. “The Labor Market Effects of Immigration Enforcement” by Chloe East, Philip Luck, Hani Mansour, and Andrea Velasquez. “Immigration Enforcement and Public Safety” by Felipe Gonçalves, Elisa Jácome, and Emily Weisburst. [Draft available from the authors]. “Immigration Enforcement and the Institutionalization of Elderly Americans” by Abdulmohsen Almuhaisen, Catalina Amuedo-Dorantes, and Delia Furtado. [Draft available from the authors] “Take-up and Targeting: Experimental Evidence from SNAP” by Amy Finkelstein and Matthew J. Notowidigdo. “Reducing Ordeals through Automatic Enrollment: Evidence from a Subsidized Health Insurance Exchange” by Mark Shepard and Myles Wagner.  

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

You're likely familiar with accounting, so perhaps you can gather that mental accounting is essentially about how we account for things in our mind. But, you may not realize that it isn't just mental math. This is about how we tend to create separate accounts for things in our minds that feel concrete, but often aren't. When I give examples in this episode today, which originally aired in the summer of 2019, you are going to find yourself saying, “Well, obviously that is how it works!” And then when you realize it doesn't have to be that way…it's kind of mind-blowing, but in a good way.  Mental accounting is great in a lot of ways. It helps us to save money and prioritize things that we might have a harder time with if everything was all lumped together. But it doesn't mean it is the ONLY way or even the right way. It might just be the best way our brains are doing it right now, and it is always a good thing when you can know the rules your brain is using to make its decisions as well as that of your employees, peers, customers, and more.  So, why are we talking about mental accounting today? It's because this Friday I am joined by Dr. Merle van den Akker, an expert on psychology and personal finances who runs the Money on the Mind blog. When she is here on Friday we discuss how the stress of money (fear of losing a job, concern about inflation, and the like) can impact employees. And, we of course take it a step further to unpack what businesses should know about these topics to better support their employees and why, even if a company thinks this doesn't have anything to do with them…it absolutely does. This kind of stress has a lot of economic impact on an organization, and it doesn't have to be difficult to support employees and achieve that win-win. We specifically talk about mental accounting in the episode, making it the perfect time to refresh it and get you set up for success for Friday! Show Notes: [01:21] Our brains make rules all the time. Sometimes they are really valuable — mental accounting is a great thing in a lot of ways. Sometimes, they aren't necessarily serving us well. [03:21] The concept of mental accounting was introduced by Nobel Prize winner Richard Thaler and is based on a human's illogical approach to value in relative terms instead of looking at it as an absolute.  [06:00] Three examples of how mental accounting can impact the decisions we make. This concept is very ingrained in our brains.  [08:22] Money is commonly labeled as either: expenses, wealth, and income.  [10:48] Much like regular accounting in mental accounting, individuals will book and post any occurring or planned transactions to the mental account. However, small items may not be booked in the same way as a big item would be. As long as it is below a certain amount it doesn't have to hit the mental account.  [12:38] We often don't look at dollar bills and change the same.  [15:31] Similar to the process of rounding up change at the grocery store, adding a small amount to an already large payment doesn't feel the same as having that payment on its own. This is because of decoupling.  [17:07] Vacations are enjoyed more when they are prepaid because it feels free.  [19:06] There are times when prepayment is necessary and beneficial for the overall enjoyment of an experience.  [22:34] When prepayment comes into play the impact of the payment gets completely wiped off the mental accounting sheet so its impact on the sheet becomes zero.  [25:11] Instead, internalize how the brain is wired to make its decisions around mental accounting.  [27:49] When it comes to wealth in these sorts of categories people are very influenced by paper gains and losses.  [29:26] Where you keep the money mentally or physically matters, but it also matters how you came across the money in question.  [30:53] The way you receive the dividend impacts your willingness to spend it.  [32:17] While it is easier to give cash than gifts, in many cases when the gift given is something someone really likes or enjoys it can have a greater value than giving cash.  [34:08] While losses should be lumped together, gains should be separated out to really feel their value. Don't wrap all the Christmas presents in one box.  [35:14] Mental accounting affects more than just money.  [37:52] Context is important in the way people react.  [39:54] Talking on the phone is more enjoyable when you aren't worried about how much it is going to cost you.  [41:57] If you struggle with work-life balance and want to make more time for yourself, your family, or date night, consider how the mental accounts for money were set up.  [43:47] Try to take a step back and have perspective on what's a waste of time and how you could better allocate your mental time account.  [44:25] 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! More from The Brainy Business: Check out Melina's award-winning 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 Top Recommended Next Episode: Pain of Paying (240) Already Heard That One? Try These:  Costco (ep 47) Apple Card (ep 42) Overview of Personal Biases (ep 45) The Overwhelmed Brain and Its Impact on Decision Making (ep 32) Celebrating the First Year of the Podcast (ep 55) Overview of Personal Biases (ep 45) Framing (ep 16) Loss Aversion (ep 9) Time Discounting (ep 51) Booms and Busts (ep 30) What is Value? (ep 8) The Truth About Pricing (ep 5) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  The Pain of Paying The Red and the Black: Mental Accounting of Savings and Debt The Pain of Paying Tightwads and Spendthrifts: An Interdisciplinary Review Always Leave Home Without It: A Further Investigation of the Credit-Card Effect on Willingness to Pay Invest now, drink later, spend never: On the mental accounting of delayed consumption Mental Accounting Matters Mental Accounting and Consumer Choice

According to the Center on Poverty and Social Policy at Columbia University, 14.3 percent of Americans — nearly 50 million people — were living in poverty in December. The scale of poverty in the U.S. dwarfs that of most of our peer countries. And it raises the question: Why does so much poverty persist in one of the richest countries in the world?For the Princeton sociologist Matthew Desmond, the answer is simple: Poverty is a policy choice. It persists because we allow it to. And we allow it to persist because so many of us — whether we realize it or not — benefit from the exploitation of the poor.Desmond's 2016 book, the Pulitzer Prize winner “Evicted,” was a powerful ethnographic account of what it means to experience the depths of poverty. But his new book, “Poverty, by America,” is less about the poor than it is about the rest of us. It is about the people who are more comfortable with the perpetuation of poverty than with the changes that would be demanded for its abolition.So this conversation is about why poverty in America persists, the choices we could make to end it and why we as a country are so stubbornly resistant to making those choices. We also discuss the heated debate over how to measure poverty in the first place, why Desmond thinks poverty is primarily a product of “exploitation,” why over $140 billion of government aid ends up never making it into the hands of the people it's intended to help, Desmond's view that the U. S. does “more to subsidize affluence than to alleviate poverty,” why the daily cognitive cost of poverty is as severe as losing a night of sleep, how the U. S. passed its most successful anti-poverty policy in decades and then let it expire, why Americans seem more willing to tolerate high poverty than high prices, why Desmond thinks sectoral bargaining and public housing are key pillars of any anti-poverty agenda, what it means to become a “poverty abolitionist” and more.Mentioned:Evicted by Matthew DesmondHomelessness Is a Housing Problem by Gregg Colburn and Clayton Page Aldern“The Time Tax” by Annie LowreyScarcity by Sendhil Mullainathan and Eldar Shafir“What the Rich Don't Want to Admit About the Poor” by Ezra KleinBook Recommendations:What Then Must We Do? by Leo TolstoyRace for Profit by Keeanga-Yamahtta TaylorRandom Family by Adrian Nicole LeBlancThoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast, and you can find Ezra on Twitter @ezraklein. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.This episode of “The Ezra Klein Show” is produced by Roge Karma, with Emefa Agawu, Annie Galvin, Jeff Geld and Kristin Lin. Fact-checking by Michelle Harris, Mary Marge Locker and Kate Sinclair. Mixing by Jeff Geld. Original music by Isaac Jones. Audience strategy by Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Pat McCusker and Kristina Samulewski.

Sara Heller and Max Kapustin talk about the effects of the READI program on gun violence in Chicago. “Predicting and Preventing Gun Violence: An Experimental Evaluation of READI Chicago” by Monica P. Bhatt, Sara B. Heller, Max Kapustin, Marianne Bertrand, and Christopher Blattman. *** Probable Causation is part of Doleac Initiatives, a 501(c)(3) nonprofit. If you enjoy the show, please consider making a tax-deductible contribution. Thank you for supporting our work! *** OTHER RESEARCH WE DISCUSS IN THIS EPISODE: “Cure Violence: A Public Health Model to Reduce Gun Violence” by Jeffrey Butts, Caterina Gouvis Roman, Lindsay Bostwick, and Jeremy R. Porter. “Machine Learning Can Predict Shooting Victimization Well Enough to Help Prevent It” by Sara B Heller, Benjamin Jakubowski, Zubin Jelveh, and Max Kapustin. “The Enhanced Transitional Jobs Demonstration: Implementation and Early Impacts of the Next Generation of Subsidized Employment Programs” by Cindy Redcross, Bret Barden, Dan Bloom, Joseph Broads, Jennifer Thompson, Sonya Williams, Sam Elkins, Randall Jurus, Janae Bonus, Ada Tso et al. “Thinking, Fast and Slow? Some Field Experiments to Reduce Crime and Dropout in Chicago” by Sara B. Heller, Anuj K. Shah, Jonathan Guryan, Jens Ludwig, Sendhil Mullainathan, and Harold A. Pollack. “Reducing Crime and Violence: Experimental Evidence from Cognitive Behavioral Therapy in Liberia” by Christopher Blattman, Julian C. Jamison, and Margaret Sheridan. “Reducing Violence Without Police: A Review of Research Evidence” by Charles Branas, Shani Bugs, Jeffrey A. Butts, Anna Harvey, and Erin M. Kerrison. “Advance Peace Stockton, 2018-20 Evaluation Report” by Jason Corburn and Amanda Fukutome. “Implementation Evaluation of Roca, Inc.” by Abt Associates. “Reaching and Connecting: Preliminary Results from Chicago CRED's Impact on Gun Violence Involvement” by Northwestern Neighborhood & Network Initiative.

The Right Question Institute (RQI), works to build a more just and equitable democracy by strengthening people's ability to ask questions and participate in decisions that affect them. As RQI puts it, “When people of all ages learn to ask the right questions, it leads to feeling a new sense of agency, confidence & power.” Naomi Campbell directs RQI's Legal Empowerment program, leading RQI's efforts to promote the adoption of the Right Question Strategy in legal practice settings serving low-income communities. The work is aimed at offering a simple way to integrate capacity-building into practice at the micro-level, as part of a systemic change strategy at the macro-level. That sounded to me like a serious curiosity practice in service of community transformation and I wanted to know more. Learn more about about The Right Question Institute: https://rightquestion.org Read Jamie Jirout's research on children's questions and problem solving: https://www.tandfonline.com/doi/full/10.1080/15248372.2020.1832492 Take a look at this excellent coverage from The Guardian of work by Sendhil Mullainathan and Eldar Shafir on scarcity. Their work is not focused on curiosity specifically, but it certainly resonates! https://www.theguardian.com/books/2013/aug/23/scarcity-sendhil-mullainathan-eldar-shafir Our theme music is by Sean Balick. “Faster Faster Brighter" by Ray Catcher, via Blue Dot Sessions.

Global Policy Watch #1: The Many Transitions In China Global issues and their implications for India— RSJIn a few editions in the past, we have alluded to structural challenges in the Chinese economy and the window of opportunity that it presents India. I thought it would be useful to take a more comprehensive view of this. China reported a GDP growth of 0.4 per cent in the quarter that ended in June 2022. China's National Bureau of Statistics (NBS) isn’t known for its allegiance to truth. It is safe to assume the real GDP would have shrunk in the quarter. The daft ‘zero Covid’ policy led to total lockdowns in major cities during the quarter. The government crackdown on the real estate sector has meant that investment in the sector fell sharply. These contributed to the slowdown. Two other data points are interesting to note. The unemployment rate among the youth aged between 16-24 was at an all-time high of about 20 per cent. Also, retail sales continued to be weak at about 2.7 per cent, much below the 5 per cent forecast. Domestic consumption, the great desire of Chinese policymakers, remained sluggish. The spokesperson for the NBS put up a brave face while spinning these numbers as short-term bumps on the road. He raised the possibility of global stagflation and its negative impact on China to possibly justify weak numbers in the future. But is this slowdown just a blip in the impressive rise of China in the past three decades? I’m not sure. There are three transitions underway in China right now. It is difficult for nations to pull off any one of these in normal times. To attempt three simultaneously is ambitious. It is most likely to fail. Anyway, back to these transitions.The first transition started a few years back. This was forced on it because economics doesn’t bow to the party's diktats. China is finding it difficult to transition from a manufacturing-heavy, investment-led economic model to a consumption-driven one. This couldn’t be avoided. There would always be a limit to the world’s capacity to absorb China’s imports. Also, as China grew richer, it knew its low-cost edge in manufacturing would wither away. So after a few years of structural overinvestment in building capacity - the bridges to nowhere, the ghost cities, empty airports and other excesses - it had to pivot to a consumption-driven economy. It did try to delay the inevitable transition by aiming to export this overcapacity through its belt and road initiative. But after the initial hoopla, most countries have come to see it as what it is. A debt trap. So, this transition was necessary to move away from growth predicated on size and scale of investment to a more sustainable model of higher quality. But this is proving to be difficult. The history of unproductive investments has led to a debt build-up in the system (the debt to GDP ratio in China is over 300 per cent) and a drag on productivity that will continue for a long time. The state-owned enterprises (SOEs) that led this investment-driven growth are in a debt trap, and many continue to stay afloat by evergreening their loans. New productive investments have suffered because of this. People aren’t sure of their future, so instead of consumption, there’s an increase in domestic savings. Also, the pandemic and the recent lockdowns haven’t helped consumption growth. This is going to be a long, painful road.The second transition has been brought upon it because of its confidence in creating a ‘patterned’ society based on a premeditated design of the society. The prime example of ignoring spontaneous order was its plan to control the population through a one-child policy. China is now past the peak of its demographic dividend. The Labour force in China peaked in 2015 at around 800 million. It has now shrunk to 783 million, almost what it was in 2010. In the next 15 years, this is projected to go down to about 650 million. The stupid notion of the population as a liability has meant a rapidly shrinking and ageing workforce. The government has now reversed the one-child policy with a two-child policy without learning that such top-down interventions worsen things. Other similar ideas like patterned migration from villages to specific cities, controlling information flow for its citizens and taking some lofty top-down emission targets that have contributed to a serious energy crisis right now will also turn out the same way. The fault isn’t in their stars but in their ideology.  The final transition is the more perplexing one. This was articulated in a speech by Xi Jinping on August 17, 2021, where he introduced the notion of ‘common prosperity.’ This marked the most cogent articulation of Xi’s shift towards greater ideological rigidity. The days of economic growth based on ideological compromises were coming to an end. As Xi mentioned, ‘common prosperity is the essential requirement of socialism and an important feature of Chinese-style modernization’ and China ‘must resolutely prevent polarization, promote common wealth, and achieve social harmony and stability.’ The crackdown on the consumer tech sector (virtually destroying Jac Ma’s empire) and the ‘three red lines’ drawn for the real estate sector, that has disproportionate weight on its economy, should be viewed in this backdrop. It is unclear whether this is a real commitment to ideology or a way to consolidate his position as dictator-for-life by appealing to the masses. But Xi has doubled down on this, as seen by his remarks at the World Economic Forum:"We will first make the pie bigger and then divide it properly through reasonable institutional arrangements. As a rising tide lifts all boats, everyone will get a fair share from development, and development gains will benefit all our people in a more substantial and equitable way,"In my (very broad) view, Xi has concluded that China might have peaked in economic growth. You start talking about redistribution and ‘dividing it properly’ when you know the pie won’t grow at the same rate as it was earlier. Importantly, I also suspect this is the reason why Xi is acting like a bully in the neighbourhood. If you know you have hit the peak of your geopolitical and geoeconomic leverage, you will be foolish to let the moment pass without maximising your gains.Some might argue furnishing other economic data that this ‘peaking’ theory isn’t true. China is still a global manufacturing engine. Its trade surplus has ballooned in the past year suggesting the world is hungrier for its goods. And so on. There’s this insightful column by Michael Pettis in FT that I will quote, which puts in perspective the record trade surpluses that China has been notching up in recent months while making these three transitions together. Pettis writes:Contrary to what many assume, the country’s burgeoning trade surplus is not a symptom of manufacturing prowess, nor is it evidence of a culture of thrift. It is instead a consequence of the great difficulty China has had in rebalancing its domestic economy and reining in its soaring debt. This is because the very conditions that explain stagnant domestic consumption also explain the rapid growth in Chinese exports relative to imports.Beijing has known the solution to this problem for years. In order to control soaring debt and the non-productive investment it funds, it had to rebalance the distribution of income by enough that growth would be driven mainly by rising consumption, as is the case in most other economies. But this requires a politically-difficult restructuring of the economy in which a larger share of total income — as much as 10-15 percentage points of GDP — is transferred from local governments to Chinese households.This is why the trade surplus matters. In recent years, Beijing has tried to slow the growth in debt by reducing non-productive investment in property and infrastructure. This year, as we saw with Evergrande, Beijing came down hard on the property sector.If a rising share of China’s total income had been going to ordinary households, the resulting reduction in investment by property developers could have been balanced by a rise in consumption. But that’s not what’s happened. In the past two years, partly as a consequence of the Covid pandemic, growth in wages has actually lagged behind growth in GDP. The share Chinese workers have received of what they produce has declined rather than increased, and with it so has the share they are able to consume.Rising exports are usually a good thing, but for countries like China, rising trade surpluses are not. In this case they are symptoms of deep and persistent imbalances in the domestic distribution of income. Until the country is able to reverse these imbalances, something which has proven politically very difficult, these large surpluses are just the obverse of attempts by Beijing to control debt, and so they will persist.For India, all of this is a golden opportunity. China will remain busy with these transitions that it has wrought upon itself. The jury is still out on whether it will have a soft landing on them. Global businesses that started seeking more resilient and cost-effective alternatives to China during COVID-19, are now convinced that they must employ a ‘China + 1’ model to safeguard their long-term interests. There are only that many economies that have the labour pool, capital and a business environment that can take advantage of this shift away from China, however gradual. To me, it might be faster than what we all anticipate. And it will pass India by if it doesn’t stay alert to its possibilities.There is a high likelihood of a golden decade ahead for MSMEs in India if it plays its cards right. A long overdue factor market reforms (possible at the state level), kickstarting a government capex cycle that will instil confidence in the private sector to follow suit, not overdoing aatmanirbhar Bharat beyond the rhetoric and remaining an open and liberal democracy that convinces others that it will have sufficient checks and balances to not lose its way. These are the basic block and tackle moves to capitalise on the opportunity. Because the only lesson to learn from a possible China misstep is that overdetermined leadership and top-down economic thinking eventually fail.Course Advertisement: The Sept 2022 intake of Takshashila’s Graduate Certificate in Public Policy programme ends soon! Visit this link to apply.India Policy Watch #1: A Potent CocktailInsights on burning policy issues in India— Pranay KotasthaneThe ongoing political saga in Delhi over a new (now suspended) excise policy is a heady cocktail for policy analysts. The cocktail’s components include a tussle over alcohol licenses, Maximum Retail Price (MRP), privatisation, regulation, allegations of corruption, rent-seeking, and political contestation.The political motivations behind the current actions are quite clear. But it might be useful to look at the under-discussed policy aspects of the debate. Useful, because it’s not the last time we have seen a stand-off on alcohol policy.The underlying motivation for the Delhi Excise Policy 2021-22 is to increase government revenue. Although we know that the best way to do that is lower the tax rate and broaden the base, India’s poor economic performance over the last decade has made it politically risky to bring additional people under the tax net. Hence, states are opting for the easier—and counterproductive—option instead: raise tax rates and increase non-tax revenue. With the GST taking away the power to raise tax rates on most items unilaterally, state governments are exploring other options. One lucrative option is liquor excise. The Indian State heavily regulates the production, sale, and consumption of alcohol. Streamlining the licensing policies for the production and sale of alcohol can generate non-tax revenue, while higher overboard consumption can result in an increase in tax revenue (excise duty). One reform, two revenue handles. This is why the Aam Aadmi Party (AAP) governments in Delhi and Punjab have set their eyes on this sector. Moreover, raising the fees on government-provided private goods doesn’t fit its existing political persona. To be fair, the Delhi Excise Policy 2021-22 is fairly progressive. It states that the policy's objectives are to augment the state excise duty revenue, simplify liquor pricing, prevent duty evasion, and transform the liquor trade commensurate with Delhi’s position as a city of global importance. To achieve these objectives, the policy aims to award new licenses for alcohol sale, dividing the city into 32 zones, with a fixed number of shops allowed per zone. It aims to end government-run booze shops, distributing those licenses to private players instead. To foster competition, it allows shops to offer discounts below the Maximum Retail Price (MRP), permits shops to stay open till 3 am, and authorises bars to serve alcohol in licensed open spaces. A report in the Business Standard captured the view of a craft beer brand as follows:“The new excise policy is facing teething issues like any other but we find the policy very good since there is now a lot more opportunity to showcase our brand. Earlier, stores were dingy with no proper brand display, but now the stores have a mandated minimum floor area and are women-friendly. This helps with visibility of our brand.” There were quite a few initial hiccups. Some dealers started giving deep discounts to capture the market. That led the government to change the no-MRP policy to a “discount only up to 25% of MRP” policy. After that, retailers started offering “buy one bottle, get another free”. And hence, big dealers could attract more customers, while the smaller ones were finding it difficult to compete. Some licenses didn’t attract any buyers at all. These seem to be transient-state shocks. The steady-state promised to be much better. Alas.Reforming a tightly regulated policy area in which powerful rent-seekers have flourished for decades is not easy. The old status quo has powerful defenders. Like many other reforms, the benefits are widely dispersed while the costs are concentrated. And so, many existing licensees have ganged up on the government. We can be sure that some of these licensees also have political connections, which they have used to oppose the policy. There is also the additional issue specific to alcohol — any policy that is seen to liberalise its sale becomes an easy target for conservative moralisers. Further, the Delhi government made a mistake by pausing the policy implementation amidst the criticism.Then came the political pushback. Despite the government’s revenue increasing by 27 per cent after the policy was put in place, some notional revenue loss of the “2G spectrum allocation” vintage has surfaced. There are also charges of favouritism and corruption in the allocation of new licenses, an issue so sensational that it requires the combined might of the Central Bureau of Investigation (CBI) and the Enforcement Directorate. (Sarcasm is intended.) Many state governments must be eying this Delhi experiment with excise policy reform. Moreover, this case illustrates the difficulty in reforming sub-optimal licensing arrangements. As for the Delhi government, are they reaping what they sowed in the name of anti-corruption?Global Policy Watch #2: Xi Jinping’s Thoughts Global issues and their implications for India— RSJTalking of China (and I’m intruding into Pranay’s area of expertise), I came across this wonderful blog, globalinequality by Branko Milanovic. In his latest post, he writes about what he learnt from reading a translated version of the book, ' Anecdotes and Sayings of Xi Jinping’. Milanovic writes:The undisputable emphasis in the “Chinese” part of the book is on the matters of governance. By giving numerous examples from Chinese history of rulers and their aides who cared about people’s welfare, lived modestly (“One should be the first when taking care of state affairs, the last when taking care of personal affairs”), strove to improve themselves morally and educationally, Xi proposes a theory of governance that is based on virtue of rulers and results achieved, not procedure. While Western theories emphasize the procedural aspect (how is one selected to be the ruler, is it by a well-established democratic process or not), Xi’s concern is with the results. The tacit premise is not to discuss how one is selected to rule….The success is defined in terms of improvement in the well-being and happiness of people whom they govern.…In all cases of a good rule, there is the emphasis on individual characteristics of rulers. What is required, they (the editors) write, is “morality inside and virtue outside”; what is sought is the rule of virtue, and by virtue.  But how to bring about such a rule? Obviously, by having moral rulers. Hence--the reader begins to realize--Xi’s ideological campaign: if Confucian-cum-Communist  ideology is disregarded and everything is simply esteemed in terms of money and economic success, there cannot be a moral and virtuous rule.The key question, unanswered in the book, then becomes: is it possible to achieve an educational and moral “rejuvenation” under the current “normal” conditions of capitalism where money-making is held by the majority of the population to be the highest objective revealing also one’s individual worth?Xi is fighting against the spirit of the times, and while his struggle may be driven by a genuine desire to create a morally superior China, the odds of succeeding in this endeavor are, I am afraid, not particularly high. This is, to put it mildly, a brilliant summary of the ideological battle Xi has picked up and his odds of winning it. I tend to agree with its conclusion.   India Policy Watch #2: Value Addition, Not Import SubstitutionInsights on burning policy issues in India— Pranay Kotasthane“Import Substitution” is still in vogue. One would have thought that the unsuccessful pursuit of this goal since independence would’ve discredited it. That doesn’t seem to be the case.Every few weeks, we come across policies targeting import substitution, implicitly if not explicitly. Just a few days back came the rumour that the government plans to ban Chinese phones priced under Rs 12,000 in order to give a leg up to domestic champions. Thankfully, unnamed sources in the government have denied this story for now. Even so, import tariff hikes and industrial policies continue to chase the illusory target of import substitution. Some policies for display fabs and drones explicitly mention import substitution as the target. Of late, this idea has morphed into targets for maximising value addition per unit of exports. Now, readers of this newsletter know what we think of this idea. In edition #161, we had warned that Atmanirbhar Bharat is approaching a wrong turn. We have also cautioned against the proliferation of Production Linked Incentives (PLIs) beyond a few critical sectors. I will make the case against import substitution in this edition using another example. Look at the chart below, which shows the import profile of a country for the year 2020. This country’s largest import by value is Integrated Circuits (chips) at 18.8%. The total import bill is $259 billion. Can you guess the country? If you need a hint, here’s one: as exports rise, imports also rise. The world’s top two exporters are China and the US. And the world’s top two importers are also the US and China.The answer is neither the US nor China. India can be ruled out because we know that our biggest import is crude oil. Here’s another hint. Look at this country’s export profile for the same year. Its biggest export is again integrated circuits, at 36.9% out of a total exported value of $374 billion. Do you have an answer now? The right answer might surprise you. This is the typical year-wise trade profile of a country that is acclaimed as the world’s semiconductor superpower: Taiwan! We forget that despite its unmatched prowess in contracted chip manufacturing, Taiwan is not even close to being self-sufficient. Some Taiwanese companies import chips, do value addition through packaging and testing, and then export the final commodity. A portion of the imported chips goes into the machines that are used to manufacture chips by the famed Taiwanese chip foundries. The fundamental message is that imports are critical to exports, even in sophisticated economies. PLI scheme began with the aim of promoting India’s exports. But my sense is that import substitution has displaced exports as the primary goal. How else does one explain the simultaneous increase in import tariffs and a phased manufacturing programme (PMP) that aims to increase tariffs on imported components? Atmanirbhar Bharat needs to return to its goal of creating competitive manufacturing capabilities in India by allowing companies to start, grow, and close with considerably less bureaucratic friction. Shielding domestic component makers from international competition on the one hand, and subsidising end-equipment manufacturers on the other will end up helping neither. Equipment manufacturers will merely make expensive, poor-quality products. Some others will use the production subsidies to import components at higher prices, with no net benefit to them or the consumers. As RSJ writes in the first section, this decade is India’s to lose. Imports aren’t evil. Target value maximisation, not import substitution. Counterproductive policies targeting import substitution won’t help. HomeWorkReading and listening recommendations on public policy matters[Article] Why the MRP should be abolished. A 2015 article by Anupam Manur remains relevant. [Paper] PIIE has a good paper with a framework to analyse the world’s dependence on China for strategic minerals.[Book] Scarcity: Why Having Too Little Means So Much by Sendhil Mullainathan and Eldar Shafir is a useful read. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com

نگاهی به کمبودهای فردی و اجتماعیخلاصه کتاب کمبودScarcity: Why Having Too Little Means So Muchنویسنده: الدار سفیر، سندهیل مولای ناتان | Eldar Shafir, Sendhil Mullainathanناشر: ققنوس | ترجمه: حسین علیجانی رنانیگوینده و متن: مهدی بهمنیتدوین: رضا بهمنیلینک‌ های پادکست: yun.ir/podlinksحمایت مالی: yun.ir/hamibashاسپانسر کتاب جیبی شوید: yun.ir/sponsor

Aurelie Ouss talks about using insights from behavioral economics to reduce failures-to-appear in court. This episode was first posted in January 2020. "Nudging Crime Policy: Reducing Failures to Appear for Court" by Alissa Fishbane, Aurelie Ouss, and Anuj K. Shah. (Available from the authors upon request.) Related policy paper: "Using Behavioral Science to Improve Criminal Justice Outcomes: Preventing Failures to Appear in Court" by Brice Cook, Binta Zahra Diop, Alissa Fishbane, Jonathan Hayes, Aurelie Ouss, and Anuj Shah. *** Probable Causation is part of Doleac Initiatives, a 501(c)(3) corporation. If you enjoy the show, please consider making a tax-deductible contribution. Thank you for supporting our work! *** OTHER RESEARCH WE DISCUSS IN THIS EPISODE: "Bail, Jail, and Pretrial Misconduct: The Influence of Prosecutors" by Aurelie Ouss and Megan T. Stevenson. “Distortion of Justice: How the Inability to Pay Bail Affects Case Outcomes” by Megan T. Stevenson. “The Effects of Pretrial Detention on Conviction, Future Crime, and Employment: Evidence from Randomly Assigned Judges” by Will Dobbie, Jacob Goldin, and Crystal S. Yang. “The Unintended Impact of Pretrial Detention on Case Outcomes: Evidence from New York City Arraignments” by Emily Leslie and Nolan G. Pope. “The Downstream Consequences of Misdemeanor Pretrial Detention” by Paul Heaton, Sandra Mayson, and Megan Stevenson. Episode 4 of Probable Causation: Megan Stevenson "Thinking, Fast and Slow? Some Field Experiments to Reduce Crime and Dropout in Chicago" by Sara B. Heller, Anuj K. Shah, Jonathan Guryan, Jens Ludwig, Sendhil Mullainathan, and Harold A. Pollack. “Behavioral Biases and Legal Compliance: A Field Experiment” by Natalia Emanuel and Helen Ho.

Why budgets fail and what you should do about it with Stacked: Your Super-Serious Guide to Modern Money Management authors, Emily Guy Birken and Joe Saul-Sehy. We discuss budgets, goal planning, making budget fun, getting your spouse on board and so much more! Get their book Stacked: Your Super-Serious Guide to Modern Money Management by Emily Guy Birken and Joe Saul-Sehy (aff link) https://amzn.to/3oPTZZk Book Recommendations in this episode: Happy Money by Ken Hoda (aff link) https://amzn.to/3EVqw5M Scarcity: Why Having Too Little Means So Much by Sendhil Mullainathan and Eldar Shafir (aff link) https://amzn.to/3dQbHpe Stacked: Your Super-Serious Guide to Modern Money Management (aff link) https://amzn.to/3oSAf7s Special Guests: Emily Guy Birken and Joe Saul-Sehy.

In this episode, Dustin talks with Dan Heath about his book, Upstream: The Quest to Solve Problems Before They Happen.You'll discover why we get stuck in the cycle of response, putting out fires, dealing with emergencies, handling one problem after another, and how to make our way upstream to fix the systems that cause the problems. In other words, you'll learn how to shift from reaction to prevention.Dan encourages listeners to break free of the tunneling trap that forces us to stay in the short-term. He shares how to become an organization that learns and improves by embracing the systems thinking we need in order to perform more effectively and efficiently. ***This episode is brought to you by Dentma. From Appointment Reminders to New Patient Satisfaction Surveys, Dentma's cutting-edge assistant, Ava, has your patient communication covered and is growing every day! Visit Dentma.com to schedule a demo today. ***Resources Mentioned in The Burleson Box:Irving ZolaScarcity by Sendhil Mullainathan and Eldar ShafirAnita TuckerSteve SpearPaul BataldenUpstream: The Quest to Solve Problems Before They HappenHeathBrothers.com ***Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, exclusive study guides, special edition books each quarter, powerpoint and keynote presentations and two tickets to Dustin Burleson's Annual Leadership Retreat.http://www.theburlesonbox.com/sign-up Stay Up to Date: Sign up for The Burleson Report, our weekly newsletter that is delivered each Sunday with timeless insight for life and private practice. Sign up here:http://www.theburlesonreport.com Follow Dustin Burleson, DDS, MBA at:http://www.theburlesonfiles.com

Machine Learning can improve decision making in a big way -- but it can also reproduce human biases and discrimination. Solon Barocas joins Vasant Dhar in episode 24 of Brave New World to discuss the challenges of solving this problem.  Useful resources: 1.  Solon Barocas at his website, Cornell, Google Scholar and Twitter. 2. Fairness and Machine Learning -- Solon Barocas, Moritz Hardt and Arvind Narayanan. 3. Danger Ahead: Risk Assessment and the Future of Bail Reform: John Logan Koepke and David G. Robinson. 4. Fairness and Utilization in Allocating Resources with Uncertain Demand -- Kate Donahue and Jon Kleinberg. 5. Profiles, Probabilities, and Stereotypes -- Frederick Schauer. 6. Thinking Like a Lawyer: A New Introduction to Legal Reasoning -- Frederick Schauer. 7. Measuring the predictability of life outcomes with a scientific mass collaboration -- Mathew Salganik and others. 8. Inherent Trade-Offs in the Fair Determination of Risk Scores -- Jon Kleinberg, Sendhil Mullainathan and Manish Raghavan. 9. Limits to Prediction -- Arvind Narayanan and Matthew Salganik. 10. The Fragile Families Challenge. 11.  Daniel Kahneman on How Noise Hampers Judgement -- Episode 21 of Brave New World. 12.  Noise: A Flaw in Human Judgment -- Daniel Kahneman. 13. Dissecting “Noise” — Vasant Dhar. 14. Nudge: Improving Decisions About Health, Wealth, and Happiness -- Richard Thaler and Cass Sunstein.

On episode 2, we explore the definitions of scarcity, the difference between scarcity and scarcity mindset, features of scarcity thinking, and an expansive view of both "resources" and "wants". This episode references the book Scarcity by Sendhil Mullainathan and Eldar Shafir. The practices to integrate this week: 1. Resource Awareness PracticeYou can do this either as a journal/writing practice or as a mindfulness walk. Set a timer for 5 minutes and name every resource you see or can think of,  based on our expansive view of resources as physical, mental and emotional. If you get stuck, think of a specific want you have that feels hard to fulfill, and start naming every resource you have access to that might help you fulfill that want. 2. Want Tolerance PracticeThere are two parts to this one: Spend this week noticing every time your "wanting" is actually a form of resource. Perhaps it gives you pleasure, joy, motivation, guidance, or clarity. In the second part, notice when your unfulfilled wants (which we could also describe as scarcities) are feeling unpleasant or uncomfortable. Rather than needing to change that feeling, take a few deep breaths and allow the feeling of discomfort that comes with an unfulfilled want. See if you can allow the feeling to come and go without resisting it. 

These past few years, as our country has become more fragmented, and longstanding biases have come into plain sight, we've searched for ways to understand what we're experiencing more deeply and to benefit from perspectives that can help us envision a path forward. This week's episode of Our Dream Deferred: Fulfilling the Nation's Promise, we'll cover the importance of narrative change and how to do it in a positive way, what we can do as leaders and organizations to contribute to meaningful change, and what behavioral science can teach us about how to reach the people and communities we serve.   This episode's guest is Anthony Barrows, a Managing Director at idas42.   Be part of Our Dream Deferred. Use the hashtag #OurDreamDeferred or write to us at cbecker@aphsa.org.    This episode was produced by APHSA. Editing and sound design by Brandon Mitchell.   Links: http://ideas42.org/learn  https://anthonybarrows.com/home.html  https://www.mobilitypartnership.org/paper-categories/narrative    Book Recommendations: The Tyranny of Merit: What's Become of the Common Good? by Michael J. Sandel The Conversation: How Seeking and Speaking the Truth About Racism Can Radically Transform Individuals and Organizations by Robert Livingston Scarcity: The New Science of Having Less and How It Defines Our Lives by Sendhil Mullainathan and Eldar Shafir 

Steve continues his conversation with his good friend, MacArthur “Genius Grant” recipient, and fellow University of Chicago economist. Sendhil breaks down the hypothesis of his book Scarcity, explains why machines aren't competition for human intelligence, and tells Steve why it's important to appreciate other people's good ideas before developing your own. 

He's a professor of computation and behavioral science at the University of Chicago, MacArthur “Genius Grant” recipient, and author. Steve and Sendhil laugh their way through a conversation about the importance of play, the benefits of change, and why we remember so little about the books we've read — and how Sendhil's new app solves this problem. 

Si te ha gustado el capítulo, suscríbete a nuestra newsletter y recibe Píldoras de Sabiduría cada domingo: https://www.polymatas.com/newsletter-pildoras-de-sabiduria/ A menudo me sorprendía por la estupidez humana. No la de los tontos de nacimiento, sino la de los listos. Personas inteligentes, formadas y que aún así se comportan de forma estúpida y en contra de sus intereses. El libro Pensar rápido, pensar despacio de Daniel Khaneman popularizó la influencia de los sesgos cognitivos en nuestros comportamientos irracionales, pero los sesgos no lo explican todo. Las investigaciones y el libro de Sendhil Mullainathan añaden otra importante pieza al puzzle: la escasez. La escasez de dinero, de tiempo, de compañía, de comida, etc. provoca en todos nosotros una visión de túnel en la que solo vemos aquello que nos falta y necesitamos con urgencia. Vamos a explorar este fenómeno universal y relevante para entender el comportamiento humano. Leer el artículo con las referencias a libros y estudios en https://www.polymatas.com/la-escasez-te-vuelve-tonto-perezoso

On this episode of Behavioral Grooves we chat with the founder of the engaging new app PIQUE. Bec Weeks is a behavioral scientist turned accidental entrepreneur! By joining forces with some of the brightest minds in behavioral science, including partners Sendhil Mullainathan, Eldar Shafir and Mike Norton, they have developed an amazing app that accompanies your favorite books. Pique takes users' interests in books to a new level with their slogan: Don't just read the book. DO the book. By using insights from psychology research, the app creates three-minute adventures that change how you see yourself and others. Pique helps you DO things. They know that just reading books doesn't lead to change. Doing leads to change. That's where the app can help. Pique has created curious, engaging content from some of the bestselling books from the last year: Katy Milkman's new book “How to Change” https://amzn.to/2RSeJCj Lidy Klotz “Subtract: The Untapped Science of Less” https://amzn.to/3p6XcT0  Annie Duke “How to Decide: Simple Tools for Making Better Choices”  https://amzn.to/3yRPWyO  And many more. You can check out the new app Pique here: https://getpique.app.link/4voB1E9VOgb. But first, listen in to Bec's chat with us. What You Will Learn About In This Episode (2:38) Welcome and speed round (5:06) What is Pique? (12:50) Why humor is an important part of the app (17:03) Why is the app called Pique? (21:13) How Bec has used analytics and algorithmic techniques  (23:05) Bec's journey to becoming an entrepreneur (26:49) The surprises of being an entrepreneur  (32:43) How Bec first became interested in behavioral science (34:37) What music would Bec take to a desert island? (41:11) Grooving Session  I you are a regular listener to Behavioral Grooves, we would really appreciate your support by writing us a podcast review or becoming a Behavioral Grooves Patreon Member at https://www.patreon.com/behavioralgrooves. Thank you! © 2021 Behavioral Grooves Links Bec Weeks: https://www.linkedin.com/in/becweeks/   Pique: https://getpique.app.link/4voB1E9VOgb Sendhil Mullainathan and Eldar Shafir “Scarcity: Why Having Too Little Means So Much” https://amzn.to/3uzvyz2  Ashley Whillans “Time Smart: How to Reclaim Your Time and Live a Happier Life” https://amzn.to/3wSy4lD  Wendy Wood “Good Habits, Bad Habits: The Science of Making Positive Changes That Stick” https://amzn.to/2TzXxSr  Dolly Chugh “The Person You Mean to Be: How Good People Fight Bias” https://amzn.to/34BinTD  Katy Milkman “How to Change: The Science of Getting from Where You Are to Where You Want to Be” https://amzn.to/2RSeJCj  Annie Duke “How to Decide: Simple Tools for Making Better Choices”  https://amzn.to/3yRPWyO  Lidy Klotz “Subtract: The Untapped Science of Less” https://amzn.to/3p6XcT0  Mike Norton and Elizabeth Dunn “Happy Money: The Science of Happier Spending” https://amzn.to/3c8Mlm1  Jennifer Aaker and Naomi Bagdonas “Humor, Seriously: Why Humor Is a Secret Weapon in Business and Life (And how anyone can harness it. Even you.)” https://amzn.to/3paWZhB  Daniel Kahneman “Thinking Fast and Slow” https://amzn.to/3fZDvbA  Episode 205: The Myth of the “Relationship Spark” with Logan Ury (featuring a guest appearance by Christina Gravert, PhD) https://behavioralgrooves.com/episode/the-myth-of-the-relationship-spark-with-logan-ury-featuring-a-guest-appearance-by-christina-gravert-phd/ Episode 220: How Do You Become Influential? Jon Levy Reveals His Surprising Secrets https://behavioralgrooves.com/episode/how-to-be-influential-jon-levy/ Episode 38: Linnea Gandhi: Crushing On Statistics  https://behavioralgrooves.com/episode/linnea-gandhi-crushing-on-statistics/ Episode 224: Why Is Noise Worse Than Bias? Olivier Sibony Explains https://behavioralgrooves.com/episode/noise-with-olivier-sibony/ Deese–Roediger–McDermott paradigm (DRM): https://en.wikipedia.org/wiki/Deese%E2%80%93Roediger%E2%80%93McDermott_paradigm  Musical Links Hamilton “Alexander Hamilton” https://www.youtube.com/watch?v=VhinPd5RRJw  Radiohead “No Surprises” https://www.youtube.com/watch?v=u5CVsCnxyXg  Taylor Swift “Love Story” https://www.youtube.com/watch?v=aXzVF3XeS8M  Dua Lipa “We're Good” https://www.youtube.com/watch?v=jr47YisIsz8  Wicked “Defying Gravity” https://www.youtube.com/watch?v=glsmLGpqMzA  Frozen “The Next Fight Thing” https://www.youtube.com/watch?v=TuC_-7vy_F0  Moana “You're Welcome” https://www.youtube.com/watch?v=79DijItQXMM  Billie Eilish “Your Power” https://www.youtube.com/watch?v=fzeWc3zh01g  Tame Impala “Let It Happen” https://www.youtube.com/watch?v=pFptt7Cargc  Powderfinger “These Days” https://www.youtube.com/watch?v=7XaSm9-r_4U&ab_channel=Powderfinger  Spiderbait “Black Betty” https://www.youtube.com/watch?v=nU1VfYYKMDk  The Cat Empire “Brighter Than Gold” https://www.youtube.com/watch?v=QM_rIaUm7ac   

Esta semana estamos hablando acerca de la mentalidad de escasez, esa manera negativa de ver la vida sintiendo que hay una cantidad limitada de dinero, amor, poder, clientes, etcétera; y sienten que cada vez que alguien gana algo, ahora queda menos en el mundo para ellos. El economista Sendhil Mullainathan y el psicólogo Eldar Shafir escribieron un libro llamado: “Escasez: Porque tener muy poco significa mucho”. En ese libro, los investigadores comparten una serie de experimentos cuyos resultados indican que, cuando nos sentimos en escasez, nuestro nivel de inteligencia disminuye y tomamos peores decisiones. Es como si la pobreza le cobrara un impuesto a la inteligencia. Escucha esta cápsula y descubre como la mentalidad de escasez afecta las decisiones que tomas.

If bail decisions were made by an Artificial Intelligence instead of judges, repeat crime rates among applicants could be cut by 25%. That is because an AI is consistent in its judgements: human judges are not.   This variation in in bail decisions, as well as in sentencing, and many medical diagnoses and underwriting decisions are all examples of what Cass Sunstein calls "Noise" - unwanted variation in professional judgement, which is the theme of his new book Noise: A Flaw in Human Judgement, co authored with Danny Kahneman and Olivier Sibony. Professional judgement and discretion sound great in theory - especially to the professionals themselves - but in practice they end up creating a lottery in some high-stakes situations. He tells me why there should be statues of the legal reformer Marvin Frankel all across the land; how we can reduce the "creep factor" of AI decision-making; how early movers influence opinion especially through social media, and much more.  Cass Sunstein Cass Sunstein is a professor at Harvard Law School, as well as the founder and director of the Program on Behavioral Economics and Public Policy. He has written hundreds of articles and numerous books, ranging from constitutional law to Star Wars. He has also served in several government positions, formerly in the Office of Information and Regulatory Affairs in Obama's first administration and currently in the Department of Homeland Security to shape immigration laws. Sunstein's influence is wide-reaching, most notably from his work on advancing the field of behavioral economics, making him one of the most frequently cited scholars. He is also a recipient of the Holberg Prize and has several appointments in global organizations, including the World Health Organization.  More from Cass Sunstein Read “Noise: A Flaw in Human Judgement” co-authored with Daniel Kahneman and Olivier Sibony Read his widely influential 2008 book “Nudge: Improving Decisions About Health, Wealth, and Happiness,” co-authored with Richard Thaler, as well as his later book “Why Nudge? The Politics of Libertarian Paternalism”  Dig into his work on “norm cascades”, as well as how group polarization works in jury pools  Check out his previous work on jury behavior with Kahneman including “Assessing Punitive Damages” or “Are Juries Less Erratic than Individuals?”  Also mentioned Cass mentioned the 2007 asylum study by Schoenholtz, et al. titled “Refugee Roulette: Disparities in Asylum Adjudication” I referred to this NBER paper by Eren & Mocan showing that the behavior of judges can be influenced by arbitrary factors, including by the outcome of local sports games.  Cass brought up the work of Sendhil Mullainathan, which includes a study on “Human Decisions and Machine Predictions” and another on “Who Is Tested for Heart Attack and Who Should Be” We discussed the Sentencing Reform Act of 1984 which imposed guidelines for criminal sentencing but was essentially dismantled in a 2004 Supreme Court ruling  Learn more about the APGAR infant score  Jim Surowiecki, the author of “The Wisdom of Crowds,” discusses the weight of the cow parable on an episode of Planet Money Yet the wisdom of crowds phenomenon is often diminished when the group discusses their judgements and are exposed to social influence, as demonstrated by the study: “How social influence can undermine the wisdom of crowd effect”  In 2006, Duncan Watts, along with two co-authors, explored how early downloads were instrumental in predicting popularity in their article “Experimental Study of Inequality and Unpredictability in an Artificial Cultural Market”  I quoted John Stuart Mill in Utilitarianism, “Men often, from infirmity of character, make their election for the nearer good, though they know it to be the less valuable”  Cass referred to Mill's harm principle, something he expands upon here. We also discussed Patrick Deneen's book “Why Liberalism Failed”  The Dialogues Team Creator: Richard Reeves Research: Ashleigh Maciolek Artwork: George Vaughan Thomas Tech Support: Cameron Hauver-Reeves Music: "Remember" by Bencoolen (thanks for the permission, guys!)

As artificial intelligence gets more and more powerful, the need becomes greater to ensure that machines do the right thing. But what does that even mean? Brian Christian joins Vasant Dhar in episode 13 of Brave New World to discuss, as the title of his new book goes, the alignment problem. Useful resources: 1. Brian Christian's homepage. 2. The Alignment Problem: Machine Learning and Human Values -- Brian Christian. 3. Algorithms to Live By: The Computer Science of Human Decisions -- Brian Christian and Tom Griffiths. 4. The Most Human Human -- Brian Christian. 5. How Social Media Threatens Society -- Episode 8 of Brave New World (w Jonathan Haidt). 6. Are We Becoming a New Species? -- Episode 12 of Brave New World (w Molly Crockett). 7. The Nature of Intelligence -- Episode 7 of Brave New World (w Yann le Cunn) 8. Some Moral and Technical Consequences of Automation -- Norbert Wiener. 9.Superintelligence: Paths, Dangers, Strategies -- Nick Bostrom. 10. Human Compatible: AI and the Problem of Control -- Stuart Russell. 11. OpenAI. 12. Center for Human-Compatible AI. 13. Concrete Problems in AI Safety -- Dario Amodei, Chris Olah, Jacob Steinhardt, Paul Christiano, John Schulman, Dan Mané. 14. Machine Bias -- Julia Angwin, Jeff Larson, Surya Mattu and Lauren Kirchner. 15. Inherent Trade-Offs in the Fair Determination of Risk Scores -- Jon Kleinberg, Sendhil Mullainathan, Manish Raghavan. 16. Algorithmic Decision Making and the Cost of Fairness -- Sam Corbett-Davies, Emma Pierson, Avi Feller, Sharad Goel, Aziz Huq.. 17. Predictions Put Into Practice -- Jessica Saunders, Priscillia Hunt, John S. Hollywood 18. An Engine, Not a Camera: How Financial Models Shape Markets -- Donald MacKenzie. 19. An Anthropologist on Mars -- Oliver Sacks. 20. Deep Reinforcement Learning from Human Preferences -- Paul F Christiano, Jan Leike, Tom B Brown, Miljan Martic, Shane Legg, Dario Amadei for OpenAI & Deep Mind.

Steven Manuel and Mark Parrett continue their conversation about poverty (10:30) as Mark reviews the book Scarcity: Why Having Too Little Means So Much, by Eldar Shafir and Sendhil Mullainathan. It describes, with research, how “not having enough” impacts people. It makes us stupid, insecure, impulsive, makes us spend money unnecessarily, etc. Mark tells about a dumb purchase he made at Princeton (38:30), dealings with poor tenants (44:30), hamster-wheel living (49:40), and all the gross things that a poverty spirit produces. Here at Abe's Wallet… we hate poverty (and love PLANNING, which is one of the antidotes to it)!

Steven Manuel and Mark Parrett continue their conversation about poverty (10:30) as Mark reviews the book Scarcity: Why Having Too Little Means So Much, by Eldar Shafir and Sendhil Mullainathan. It describes, with research, how “not having enough” impacts people. It makes us stupid, insecure, impulsive, makes us spend money unnecessarily, etc. Mark tells about a dumb purchase he made at Princeton (38:30), dealings with poor tenants (44:30), hamster-wheel living (49:40), and all the gross things that a poverty spirit produces. Here at Abe’s Wallet… we hate poverty (and love PLANNING, which is one of the antidotes to it)!

Consistency is more important that how high you go... I heard about it today while listening to Sendhil Mullainathan on The Knowledge Project Podcast. Also in this episode I have a quote by Bruce Springsteen. And a Poem by Edith Södergran. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/penpositive/message Support this podcast: https://anchor.fm/penpositive/support

Deze aflevering werd gemaakt in samenwerking  met Teacher Tapp Vlaanderen. Meer info over deze app vind je op www.deleraardenkt.be20 procent van alle kinderen groeit op in armoede. Dat wil zeggen dat hun ouders of voogd minder verdienen dan de armoededrempel die op 60 procent van de mediaan van het Belgisch inkomen ligt. Dat is 1 op 5. Die kinderen zitten ook op school en dat maakt dat armoede in de klas een zeer impactvol thema is  in onderwijs.De voorbije weken werden hierover een aantal vragen gesteld aan de gebruikers van Teacher Tapp. Zo werd er gevraagd naar wat schoolbeleid  is en wat leerkrachten zelf doen in de klas rond armoede. In deze podcast duiken we in de resultaten op deze vragen en leggen we die voor aan pedagoog en onderwijsexpert Pedro De Bruyckere. Hij dook in de resultaten en geeft ons zijn analyse van jullie antwoorden. Denk jij nu, ik wil ook meedoen met die Teacher Tapp-applicatie en elke dag die bevraging in vullen, wel dat kan, zonder enig probleem. Ga dan als de bliksem naar de app-store en download de Teacher Tapp Vlaanderen app. In een paar klikken kan je meedoen.Shownoteswww.deleraardenkt.bemeer info over het onderzoek van Sendhil Mullainathan en  Eldar Shafir over schaarsteDe twee schreven er ook een boek over: Schaarste!Een sterke Tedtalk van Rutger Bregman over armoedeMeer info over het onderzoek van Thijs Bol.Pedro schreef al meerdere boeken. Dit is zijn laatste worp!Word vriend van de show op www.dekrijtlijnen.be!Schrijf je hier in voor onze nieuwsbrief!

Lina tiene el hábito de meditar todos los días. Lleva más de 1000 días haciéndolo. Con ella hablamos de cómo llegó a la meditación y cómo sostuvo su práctica hasta consolidar el hábito. También conversamos sobre lo difícil que es aprender cosas nuevas a medida que vamos creciendo y como, para Lina, actividades como la ilustración o el patinaje han servido de espejo para identificar las taras que trae a su práctica de meditación y vice versa. Hablamos de la ruptura de muchas personas con la espiritualidad, sobre lo mundano de la meditación frente a sus representaciones en la cultura popular y sobre la falibilidad de los guías espirituales y relgiosos. Lina es directora de Sentiido (https://sentiido.com/) y la encuentran en Twitter como @LinaCWills. Su trabajo como ilustradora lo encuentran en @canicheink en Instagram. Pueden encontrarnos en su aplicación de podcasts favorita, o como @expertosdesillon en Instagram, @ExpertoSillon en Twitter o también pueden escribirnos a expertosdesillon@gmail.com Expertos de Sillón es un podcast donde conversamos con nuestros invitados e invitadas sobre sus grandes obsesiones, sus placeres culposos o sus teorías totalizantes acerca de cómo funciona el mundo. Es un proyecto de Sillón Estudios. Conducen Alejandro Cardona y Sebastián Rojas. Produce Sara Trejos. REFERENCIAS: Wild Wild Country en Netflix, The Knowldege Project #102 - Sendhil Mullainathan (https://open.spotify.com/episode/51KCfc0CKVU9lrm8EIGiFM?si=a-eZ7u-qTfCG2fbRccV6Ag).

Sendhil Mullainathan is the Professor of Computation and Behavioral Science at the University of Chicago Booth School of Business and the author of Scarcity: Why Having Too Little Means So Much. Sendhil reflects on lessons he learned from his father, how creativity is the marrying of ideation and filtration, direct versus associative memory, what we can do to get better, rules versus decisions, positioning over predicting, outcome over ego and so much more. Listen now for some ideas that you can put into practice that will help you become a better version of yourself. Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member only episodes, and more. https://fs.blog/knowledge-project-premium/ Stay up to date by singing up for Brain Food, our weekly newsletter that comes out each Sunday with timeless insights for life and business. Sign up here: https://fs.blog/newsletter/ Follow Shane on twitter at: https://twitter.com/ShaneAParrish

Pretty much everyone around the world agrees that 2020 was a challenging year and we’re glad it’s all but over. However, 2020 was a year we upped the number of guests (to 90), upped our reading habits (20+ books for the show), and had more authors as guests than in any previous year. In short, Kurt and Tim read a lot of new books. And because we read bunches of them, we’re here to save you time by offering you our view of the top 10 books – 5 from Kurt and 5 from Tim – on behavioral science from 2020. We hope you enjoy them as much as we did – and as always, let us know what you think! For quick reference, here’s our list with links for your enjoyment. And here’s to happy reading in 2021! Top Book List from Kurt “Behave,” by Robert Sapolsky: https://amzn.to/3p5MJWF “Good Habits, Bad Habits,” by Wendy Wood: https://amzn.to/3p6v1lK “Scarcity,” by Eldar Shafir and Sendhil Mullainathan: https://amzn.to/3nsMS62 “Think Like a Rocket Scientist,” Ozan Varol: https://amzn.to/34n8OI7 “Before You Know It,” by John Bargh: https://amzn.to/3r7SbtT Top Book List from Tim “How to Decide,” by Annie Duke: https://amzn.to/38nHsmK “Behavioral Insights,” by Michael Hallsworth and Elspeth Kirkman: https://amzn.to/2WsJ1Kr “Alchemy,” by Rory Sutherland: https://amzn.to/2LEwRfd “Messengers: Who We Listen To, Who We Don’t, and Why,” by Steve Martin & Joe Marks: https://amzn.to/38gRHsH “Unleash Your Primal Brain,” by Tim Ash: https://amzn.to/3gYM1rr   Honorable Mentions “Elevate,” by Robert Glazer “Designing for Behavior Change,” by Steve Wendel “Invisible Influences,” by Jonah Berger “White Fragility,” Robin DeAngelo “The All-Or-Nothing Marriage: How the Best Marriages Work,” by Eli Finkel “The Power of Bad,” by Roy Baumeister and John Tierney “Better, Not Perfect,” by Max Bazerman “Time Smart,” by Ashley Whillans “Blindsight: the mostly hidden ways marketing shapes our brains,” by Prince Ghuman and Matt Johnson Thanks for listening and we hope you find your groove with these books! © 2020 Behavioral Grooves

It’s the gifts episode! Here are the links you’re looking for: KJ: Redbubble ❄️ Stamp blocks ❄️ Stamp blanks and stencils ❄️ Frixion Pens ❄️ Leuchterm plannerJess: Planner cover ❄️ Jess’s favorite sticky tabs ❄️ Sarina:Hedgehog Pencil Holder ❄️ Post-its that fit over planner months ❄️ Corkicle (it doesn’t come with the sticker, sorry… but actually I (KJ) have extras and if you asked me I could probably mail you one if I don’t get too many asks! Just reply to this email and I will see it.)#AmReadingJess: Scarcity: The New Science of Having Less and How It Defines Our Lives by Sendhil Mullainathan and Eldar ShafirKJ: The Other Bennet Sister by Janice HadlowSarina: The Girl with Stars in Her Eyes by Xio AxelrodZowie! Thanks for listening. If you want to check out our last gift episodes (and guides), click the years: 2019 2018 2017.If you’ve got other ideas we should know about, share them in the #AmWriting Facebook group.And if you’d like to subscribe to the shownotes email or support the podcast, click the button.To give a subscription as a gift, click THIS button! This is a public episode. Get access to private episodes at amwriting.substack.com/subscribe

Episode 16. Shannon Glenn, Executive Director of My Pit Bull is FamilyI don’t know about where you live, but I see stickers for My Pit Bull is Family all over Baltimore and throughout Maryland. This organization was so supportive when Maryland’s pit bull advocates were working to get a breed specific law changed from 2012 – 2014 and I still these stickers daily.My Pit Bull is Family has become a national animal welfare leader on the issues of breed discriminatory housing and insurance practices as well as a leader in programs keeping pets & their families together. Shannon has a unique combination of expertise and experience in these areas from both her professional and volunteer activities.Based in Minneapolis, My Pit Bull is Family has been affected by the civil unrest following the murder of George Floyd earlier this year.Shannon & I discuss:Her childhood pets and how Shannon started volunteering in the animal welfare world;The “why” behind discrimination against pit bull owners;How My Pit Bull is Family has been responsive to the needs of their community during the civil unrest in their city of Minneapolis following the murder of George Floyd;Challenging “old school” animal welfare beliefs that “people shouldn’t have pets unless they can afford them” or “I’d live in my car before giving up my pet”;The rise of more proactive programs in the animal welfare world that help keep families with their pets;How My Pit Bull is Family is creating inclusive programs to help people and pets without barriers to access and what that means during COVID;Breed discrimination and restrictions in housing and insurance;All dogs are individuals and bringing back the saying: Don’t judge a book by its cover Find My Pit Bull is Family online:Website: https://www.mypitbullisfamily.org/Facebook: https://www.facebook.com/MyPitBullisFamily/Instagram: https://www.instagram.com/mypitbullisfamily/North Minneapolis Pet Resource Center:https://www.facebook.com/North-Minneapolis-Pet-Resource-Center-100298391502139/ My Recommendations:Movie: Gridlock’dhttps://smile.amazon.com/Gridlockd-Tim-Roth/dp/B00007ELEN/Podcast: Best Friends Animal Society Podcast – Episode 31https://network.bestfriends.org/tools-and-information/best-friends-podcast/best-friends-podcast-ep-31Book: Scarcity by authors Sendhil Mullainathan and Eldar Shafirhttps://smile.amazon.com/Scarcity-Science-Having-Defines-Lives/dp/125005611X/ Links Discussed:My Pit Bull is Family’s national database of pet friendly housinghttps://www.mypitbullisfamily.org/housing/Visual Breed Identification – Literature Review:https://www.nationalcanineresearchcouncil.com/research-library/visual-breed-identification-literature-reviewStudy: Comparison of Visual and DNA Breed Identification of Dogs and Inter-Observer Reliabilityhttp://article.sapub.org/10.5923.j.sociology.20130302.02.htmlStudy: “Pit Bulls” misidentified in animal shelters:https://www.maddiesfund.org/incorrect-breed-identification.htmAnimal Farm Foundationhttps://animalfarmfoundation.org/shelter-rescues/removing-breed-labels/ Let's Connect:Facebook: @believeindogpodcastInstagram: @believe_in_dog_podcastEmail: erin@believeindogpodcast.comSupport this podcast, subscribe on your favorite app and leave a rating or review.

Today I’m very excited to be sitting down with Bec Weeks, co-founder of the app Pique.  Her co-founders include Sendhil Mullainathan who has taught traditional and behavioral economics at MIT, Harvard, and The University of Chicago, and Michael Norton, another Harvard professor and part of the Harvard Behavioral Insights Group, he also previously taught at MIT and co-authored a book called Happy Money, The Science of Smarter Spending. Bec got her MBA in behavioral science, entrepreneurship, and social impact from Harvard University. The whole Pique crew is clearly amazing! I had such a lovely time chatting with Bec and could tell from our first conversation that we would be fast friends. She is doing such cool things (and as silly as it is, she has some stellar rose gold headphones that I totally want...long time listeners know I love rose gold!) Beyond that of course, I love the cool things she and the rest of the Pique team are doing to help people use habits in a smart way to improve their lives. How are they doing that exactly? Listen and read on my friend... Show Notes: [00:43] Today I’m very excited to be sitting down with Bec Weeks, co-founder of the app Pique.  [03:18] I love the cool things Bec and the rest of the Pique team are doing to help people use habits in a smart way to improve their lives. [04:18] Before that, a bit about her. Bec is from Australia. She started her career very briefly in law before she moved to management consulting and on to the Behavioral Economics Team of the Australian Government (BETA).  [06:39] There is a really big behavioral community in Australia and it is growing every day.  [07:42] She shares about a project she was part of at BETA which focused on the problem of doctors overprescribing antibiotics. Another memorable project about reducing discrimination in hiring practices.  [09:51] The importance of testing was a key finding.  [11:05] Things are shifting all the time. A nudge applied ten years ago doesn’t necessarily work today.  [12:38] Experiments that fail to produce results still need to be public so they add to the evidence base of things that do and do not work.  [15:35] Pique is their attempt to take useful findings from psychology and present them to use and inspire an app. It lets others learn about the concept, experience the concept, and live the concept in their life in a small way.  [16:17] Pique’s main goal is to help people be more in touch with their thoughts (including self-awareness) as well as how they interact with others.  [17:05] Humans crave novelty so they wanted to make sure Pique incorporated variety and different things to do. This keeps people coming back to try something new.  [19:13] The habit is exercising the curiosity, experimentation, and exploration muscles.  [20:26] The simplest change can make it so you are innovative and creative for the rest of the day.  [22:08] The best time to Pique differs from person to person and often even moment to moment.  [24:11] They have built-in reminders in the app to complete the daily exercises and also the opportunity to schedule a comeback reminder.  [25:02] There is a lot of humor sprinkled within the app. They want it to be helpful and enjoyable.  [27:14] You will do each of these little moments and hopefully get something small out of each of them, but when you keep doing them they build on one another and you see bigger results.  [29:21] If you can provide a personalized experience for someone then they are more likely to get the benefit and come back. You want people to use it and get great value.  [31:47] Once you complete the few beginning questions you land at a page with a selection of packs sorted for you.  [33:02] Some packs currently in the app are Conversations, Time, Mind Wandering, Fan the Flame (connecting with your partner), and Rituals.  [35:44] A lot of us have things we are not quite aware of that have ritualistic power. Some of these have been lost whilst at home and some of them we have been able to keep during the pandemic--why that matters.  [37:14] Other current/upcoming packs include Decision Making, Connecting with Friends, and Boosting the Bond. They are always adding new content.  [39:10] The idea of moments is to help you do those things and see what works and resonates with you.  [41:58] Some of the things we have lost are obvious and some not as obvious. Taking time to think about what things have been lost and thinking about how we can add them back--even if it is in a different way--is very important.  [43:19] The opposite of distraction is traction (via Nir Eyal, episode link below).  [45:13] When thinking about habits, many of us think about changing them but it is also important to think about how you can use the power of habits to help people introduce change. [45:45] Pique is perfectly packaged into bite sized pieces that can help your brain to feel good and give you a mental boost. Consider this your poque to download Pique! (once you do, let us know on social media using the links below) 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.  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 Pique: Pique Pique on Instagram Pique on Twitter Pique on Facebook Pique on LinkedIn More from The Brainy Business: Master Your Mindset Mini-Course BE Thoughtful Revolution - use code BRAINY to save 10% Get Your FREE ebook Melina’s John Mayer Pandora Station! Listen to what she listens to while working. Past Episodes and Other Important Links: Scarcity: Why Having Too Little Means So Much Behavioural Economics Team of the Australian Government Nudge: Improving Decisions About Health, Wealth, and Happiness Happy Money: The Science of Smarter Spending Habits Questions or Answers Scarcity Anchoring and Adjustment Expect Error Understanding Mapping Structuring Complex Choices The Overwhelmed Brain and Its Impact on Decision Making Biases Toward Novelty and Stories How To Set Up Your Own Experiments How to Finally Change Your Behavior (So it Sticks) Focusing Illusion Interview With Author Nir Eyal Why Our Brains Love Nostalgia & Traditions Behavioural Science Club

If your average day at work is consumed with putting out fires and dealing with one emergency after the other, you’re on a very slippery slope. It’s a place New York Times bestselling author Dan Heath likes to call “downstream,” and before you know it, he warns, you’ll be stuck there. Tune in as Dan explains why adopting an upstream mindset—i.e., focusing on preventing problems rather than reacting to them over and over again—is crucial to moving your business forward and uniting your team.   entreleadership.com/podcast Upstream by Dan Heath Scarcity by Eldar Shafir and Sendhil Mullainathan #342: 5 Buckets of Leadership You're Responsible For with Dr. Henry Cloud Switch by Chip Heath and Dan Heath #380: Engaging With the Marketplace with Chris Ruder 25 Things You Can Delegate To A Social Media Strategist from BELAY Critical Thinking Cheatsheet Review this episode for a chance to win a $25 Amazon gift card   As an Amazon Associate EntreLeadership earns from qualifying purchases.   Want expert help with your business question? Call 844-944-1070 and leave a message or send an email to podcast@entreleadership.com. You could be featured on a future podcast episode!

ABOUT THIS EPISODE Psychologist Laurie Santos offered a course on well-being in 2018, and it became the most popular course ever offered at Yale University. Her online course also developed a strong following. Now she had a podcast called The Happiness Lab. I had a chance to talk with her about human happiness, and the ways in which our intuitions about what promotes happiness are often wrong. Our discussion includes a discussion of happiness in a time of a pandemic and of physical distancing, but also about happiness and race. LINKS Laurie Santos, Yale University (https://psychology.yale.edu/people/laurie-santos) The Happiness Lab podcast (https://www.happinesslab.fm/) Jeff Simmermon's Why You Should Be Happy (on Apple Music) (https://music.apple.com/us/album/why-you-should-be-happy/1504980720) Ashley Whillans, Harvard Business School (https://www.hbs.edu/faculty/Pages/profile.aspx?facId=943704) Sonja Lyubomirsky, UC-Riverside (https://profiles.ucr.edu/app/home/profile/sonja) Anand Giridharadas, Winners Take All (https://www.penguinrandomhouse.com/books/539747/winners-take-all-by-anand-giridharadas/9780451493248) Dan Ariely, "Americans Want to Live in a Much More Equal Country (They Just Don't Realize It)" in The Atlantic (https://www.theatlantic.com/business/archive/2012/08/americans-want-to-live-in-a-much-more-equal-country-they-just-dont-realize-it/260639/) Scarcity: Why Having Too Little Means So Much, by Sendhil Mullainathan and Eldar Shafir (https://www.amazon.com/Scarcity-Having-Little-Means-Much-ebook/dp/B00BMKOO6S) The Paradox of Choice: Why More Is Less, by Barry Schwartz (https://www.amazon.com/dp/B000TDGGVU/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1) Our Declaration: A Reading of the Declaration of Independence in Defense of Equality, by Danielle Allen (https://www.amazon.com/Our-Declaration-Reading-Independence-Equality-ebook/dp/B00FPT5KYW) The Blue Zones: Lessons for Living Longer From the People Who've Lived the Longest, by Dan Buettner (https://www.amazon.com/Blue-Zones-Lessons-Living-Longest/dp/1426207557) The Enchiridion, by Epictetus (https://www.amazon.com/Enchiridion-Epictetus/dp/1503226948/ref=sr_1_1_sspa?crid=1U66N1CQWPX7P&dchild=1&keywords=epictetus+enchiridion&qid=1591239645&s=digital-text&sprefix=epictetus+enc%2Cdigital-text%2C164&sr=1-1-spons&psc=1&spLa=ZW5jcnlwdGVkUXVhbGlmaWVyPUEyRkkwRE1QV0Y0M0s4JmVuY3J5cHRlZElkPUEwMTQ0NjkzM1BBVlRIRkpRUkJTSiZlbmNyeXB0ZWRBZElkPUEwNDAzMjgzVEUyQTRVWkdTU0M2JndpZGdldE5hbWU9c3BfYXRmJmFjdGlvbj1jbGlja1JlZGlyZWN0JmRvTm90TG9nQ2xpY2s9dHJ1ZQ==) Special Guest: Laurie Santos.

Jennifer Shahade is a two time United States Women's Chess Champion, poker player, author, commentator and podcast host. In this episode, Olivier and Jennifer discuss the book Scarcity by Sendhil Mullainathan and Eldar Shafir. Their wide ranging conversation addresses how a lack of resources can impact our decision making in poker and in life.

Nesta recebemos Romulo Viel pra entendermos como os problemas impactam em nossas escolhas em “Escassez” de Sendhil Mullainathan e Eldar Shafir . ======== COMPRE O LIVRO Amazon - https://www.amazon.com.br/gp/product/8568905196/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=8568905196&linkCode=as2&tag=b908-20&linkId=e4bbaae42fd14caf24dc6d8dd67e412f ======== COMENTADO NO EPISÓDIO Instagram do Romulo - https://www.instagram.com/romulovielsw/ Canal do youtube do Romulo - https://www.youtube.com/user/romuloOviel PicPay do Caixa de Histórias – Assine para receber contos na integra! - https://picpay.me/caixadehistorias Lojinha Caixa de Histórias na poeme-se - https://www.poemese.com/parceiros/caixa-de-historias ======== FALE CONOSCO . Email: caixadehistorias@b9.com.br . Facebook: www.facebook.com/caixadehistoriaspodcast . Twitter e Periscope: twitter.com/caixa_historias . Instagram: www.instagram.com/caixadehistorias . Grupo de Leitores no Facebook – Pandores: www.facebook.com/groups/pandores ==== APOIE O CAIXA DE HISTÓRIAS Apoia-se do Caixa de Histórias - https://apoia.se/cdh Patreon do Caixa de Histórias - https://www.patreon.com/CdH?ty=h PicPay do Caixa de Histórias - https://picpay.me/caixadehistorias

[This is the text of a talk I gave to the Irish Law Reform Commission Annual Conference in Dublin on the 13th of November 2018. You can listen to an audio version of this lecture here or using the embedded player above.]In the mid-19th century, a set of laws were created to address the menace that newly-invented automobiles and locomotives posed to other road users. One of the first such laws was the English The Locomotive Act 1865, which subsequently became known as the ‘Red Flag Act’. Under this act, any user of a self-propelled vehicle had to ensure that at least two people were employed to manage the vehicle and that one of these persons:“while any locomotive is in motion, shall precede such locomotive on foot by not less than sixty yards, and shall carry a red flag constantly displayed, and shall warn the riders and drivers of horses of the approach of such locomotives…”The motive behind this law was commendable. Automobiles did pose a new threat to other, more vulnerable, road users. But to modern eyes the law was also, clearly, ridiculous. To suggest that every car should be preceded by a pedestrian waving a red flag would seem to defeat the point of having a car: the whole idea is that it is faster and more efficient than walking. The ridiculous nature of the law eventually became apparent to its creators and all such laws were repealed in the 1890s, approximately 30 years after their introduction.[1]The story of the Red Flag laws shows that legal systems often get new and emerging technologies badly wrong. By focusing on the obvious or immediate risks, the law can neglect the long-term benefits and costs.I mention all this by way of warning. As I understand it, it has been over 20 years since the Law Reform Commission considered the legal challenges around privacy and surveillance. A lot has happened in the intervening decades. My goal in this talk is to give some sense of where we are now and what issues may need to be addressed over the coming years. In doing this, I hope not to forget the lesson of the Red Flag laws.1. What’s changed?  Let me start with the obvious question. What has changed, technologically speaking, since the LRC last considered issues around privacy and surveillance? Two things stand out.First, we have entered an era of mass surveillance. The proliferation of digital devices — laptops, computers, tablets, smart phones, smart watches, smart cars, smart fridges, smart thermostats and so forth — combined with increased internet connectivity has resulted in a world in which we are all now monitored and recorded every minute of every day of our lives. The cheapness and ubiquity of data collecting devices means that it is now, in principle, possible to imbue every object, animal and person with some data-monitoring technology. The result is what some scholars refer to as the ‘internet of everything’ and with it the possibility of a perfect ‘digital panopticon’. This era of mass surveillance puts increased pressure on privacy and, at least within the EU, has prompted significant legislative intervention in the form of the GDPR.Second, we have created technologies that can take advantage of all the data that is being collected. To state the obvious: data alone is not enough. As all lawyers know, it is easy to befuddle the opposition in a complex law suit by ‘dumping’ a lot of data on them during discovery. They drown in the resultant sea of information. It is what we do with the data that really matters. In this respect, it is the marriage of mass surveillance with new kinds of artificial intelligence that creates the new legal challenges that we must now tackle with some urgency.Artificial intelligence allows us to do three important things with the vast quantities of data that are now being collected:(i) It enables new kinds of pattern matching - what I mean here is that AI systems can spot patterns in data that were historically difficult for computer systems to spot (e.g. image or voice recognition), and that may also be difficult, if not impossible, for humans to spot due to their complexity. To put it another way, AI allows us to understand data in new ways.(ii) It enables the creation of new kinds of informational product - what I mean here is that the AI systems don’t simply rebroadcast, dispassionate and objective forms of the data we collect. They actively construct and reshape the data into artifacts that can be more or less useful to humans.(iii) It enables new kinds of action and behaviour - what I mean here is that the informational products created by these AI systems are not simply inert artifacts that we observe with bemused detachment. They are prompts to change and alter human behaviour and decision-making.On top of all this, these AI systems do these things with increasing autonomy (or, less controversially, automation). Although humans do assist the AI systems in both understanding, constructing and acting on foot of the data being collected, advances in AI and robotics make it increasingly possible for machines to do things without direct human assistance or intervention.It is these ways of using data, coupled with increasing automation, that I believe give rise to the new legal challenges. It is impossible for me to cover all of these challenges in this talk. So what I will do instead is to discuss three case studies that I think are indicative of the kinds of challenges that need to be addressed, and that correspond to the three things we can now do with the data that we are collecting.2. Case Study: Facial Recognition TechnologyThe first case study has to do with facial recognition technology. This is an excellent example of how AI can understand data in new ways. Facial recognition technology is essentially like fingerprinting for the face. From a selection of images, an algorithm can construct a unique mathematical model of your facial features, which can then be used to track and trace your identity across numerous locations.The potential conveniences of this technology are considerable: faster security clearance at airports; an easy way to record and confirm attendance in schools; an end to complex passwords when accessing and using your digital services; a way for security services to track and identify criminals; a tool for locating missing persons and finding old friends. Little surprise then that many of us have already welcomed the technology into our lives. It is now the default security setting on the current generation of smartphones. It is also being trialled at airports (including Dublin Airport),[2] train stations and public squares around the world. It is cheap and easily plugged into existing CCTV surveillance systems. It can also take advantage of the vast databases of facial images collected by governments and social media engines.Despite its advantages, facial recognition technology also poses a significant number of risks. It enables and normalises blanket surveillance of individuals across numerous environments. This makes it the perfect tool for oppressive governments and manipulative corporations. Our faces are one of our most unique and important features, central to our sense of who we are and how we relate to each other — think of the Beatles immortal line ‘Eleanor Rigby puts on the face that she keeps in the jar by the door’ — facial recognition technology captures this unique feature and turns into a digital product that can be copied and traded, and used for marketing, intimidation and harassment.Consider, for example, the unintended consequences of the FindFace app that was released in Russia in 2016. Intended by its creators to be a way of making new friends, the FindFace app matched images on your phone with images in social media databases, thus allowing you to identify people you may have met but whose names you cannot remember. Suppose you met someone at a party, took a picture together with them, but then didn’t get their name. FindFace allows you use the photo to trace their real identity.[3] What a wonderful idea, right? Now you need never miss out on an opportunity for friendship because of oversight or poor memory. Well, as you might imagine, the app also has a dark side. It turns out to be the perfect technology for stalkers, harassers and doxxers (the internet slang for those who want to out people’s real world identities). Anyone who is trying to hide or obscure their identity can now be traced and tracked by anyone who happens to take a photograph of them.What’s more, facial recognition technology is not perfect. It has been shown to be less reliable when dealing with non-white faces, and there are several documented cases in which it matches the wrong faces, thus wrongly assuming someone is a criminal when they are not. For example, many US drivers have had their licences cancelled because an algorithm has found two faces on a licence database to be suspiciously similar and has then wrongly assumed the people in question to be using a false identity. In another famous illustration of the problem, 28 members of the US congress (most of them members of racial minorities), were falsely matched with criminal mugshots using facial recognition technology created by Amazon.[4] As some researchers have put it, the widespread and indiscriminate use of facial recognition means that we are all now part of a perpetual line-up that is both biased and error prone.[5] The conveniences of facial recognition thus come at a price, one that often only becomes apparent when something goes wrong, and is more costly for some social groups than others.What should be done about this from a legal perspective? The obvious answer is to carefully regulate the technology to manage its risks and opportunities. This is, in a sense, what is already being done under the GDPR. Article 9 of the GDPR stipulates that facial recognition is a kind of biometric data that is subject to special protections. The default position is that it should not be collected, but this is subject to a long list of qualifications and exceptions. It is, for example, permissible to collect it if the data has already been made public, if you get the explicit consent of the person, if it serves some legitimate public interest, if it is medically necessary or necessary for public health reasons, if it is necessary to protect other rights and so on. Clearly the GDPR does restrict facial recognition in some ways. A recent Swedish case fined a school for the indiscriminate use of facial recognition for attendance monitoring.[6] Nevertheless, the long list of exceptions makes the widespread use of facial recognition not just a possibility but a likelihood. This is something the EU is aware of and in light of the Swedish case they have signalled an intention to introduce stricter regulation of facial recognition.This is something we in Ireland should also be considering. The GDPR allows states to introduce stricter protections against certain kinds of data collection. And, according to some privacy scholars, we need the strictest possible protections to to save us from the depredations of facial recognition. Woodrow Hartzog, one of the foremost privacy scholars in the US, and Evan Selinger, a philosopher specialising in the ethics of technology, have recently argued that facial recognition technology must be banned. As they put it (somewhat alarmingly):[7]“The future of human flourishing depends upon facial recognition technology being banned before the systems become too entrenched in our lives. Otherwise, people won’t know what it’s like to be in public without being automatically identified, profiled, and potentially exploited.”They caution against anyone who thinks that the technology can be procedurally regulated, arguing that governmental and commercial interests will always lobby for expansion of the technology beyond its initially prescribed remit. They also argue that attempts at informed consent will be (and already are) a ‘spectacular failure’ because people don’t understand what they are consenting to when they give away their facial fingerprint.Some people might find this call for a categorical ban extreme, unnecessary and impractical. Why throw the baby out with the bathwater and other cliches to that effect. But I would like to suggest that there is something worth taking seriously here, particularly since facial recognition technology is just the tip of the iceberg of data collection. People are already experimenting with emotion recognition technology, which uses facial images to predict future behaviour in real time, and there are many other kinds of sensitive data that are being collected, digitised and traded. Genetic data is perhaps the most obvious other example. Given that data is what fuels the fire of AI, it is possible that we should consider cutting off some of the fuel supply in its entirety.3. Case Study: DeepfakesLet me move on to my second case study. This one has to do with how AI is used to create new informational products from data. As an illustration of this I will focus on so-called ‘deepfake’ technology. This is a machine learning technique that allows you to construct realistic synthetic media from databases of images and audio files. The most prevalent use of deepfakes is, perhaps unsurprisingly, in the world of pornography, where the faces of famous actors have been repeatedly grafted onto porn videos. This is disturbing and makes deepfakes an ideal technology for ‘synthetic’ revenge porn.Perhaps more socially significant than this, however, are the potential political uses of deepfake technology. In 2017, a team of researchers at the University of Washington created a series of deepfake videos of Barack Obama which I will now play for you.[8] The images in these videos are artificial. They haven’t been edited together from different clips. They have been synthetically constructed by an algorithm from a database of audiovisual materials. Obviously, the video isn’t entirely convincing. If you look and listen closely you can see that there is something stilted and artificial about it. In addition to this it uses pre-recorded audio clips to sync to the synthetic video. Nevertheless, if you weren’t looking too closely, you might be convinced it was real. Furthermore, there are other teams working on using the same basic technique to create synthetic audio too. So, as the technology improves, it could be very difficult for even the most discerning viewers to tell the difference between fiction and reality.Now there is nothing new about synthetic media. With the support of the New Zealand Law Foundation, Tom Barraclough and Curtis Barnes have published one of the most detailed investigations into the legal policy implications of deepfake technology.[9] In their report, they highlight the fact that an awful lot of existing audiovisual media is synthetic: it is all processed, manipulated and edited to some degree. There is also a long history of creating artistic and satirical synthetic representations of political and public figures. Think, for example, of the caricatures in Punch magazine or in the puppet show Spitting Image. Many people who use deepfake technology to create synthetic media will, no doubt, claim a legitimate purpose in doing so. They will say they are engaging in legitimate satire or critique, or producing works of artistic significance.Nevertheless, there does seem to be something worrying about deepfake technology. The highly realistic nature of the audiovisual material being created makes it the ideal vehicle for harassment, manipulation, defamation, forgery and fraud. Furthermore, the realism of the resultant material also poses significant epistemic challenges for society. The philosopher Regina Rini captures this problem well. She argues that deepfake technology poses a threat to our society’s ‘epistemic backstop’. What she means is that as a society we are highly reliant on testimony from others to get by. We rely on it for news and information, we use it to form expectations about the world and build trust in others. But we know that testimony is not always reliable. Sometimes people will lie to us; sometimes they will forget what really happened. Audiovisual recordings provide an important check on potentially misleading forms of testimony. They encourage honesty and competence. As Rini puts it:[10]“The availability of recordings undergirds the norms of testimonial practice…Our awareness of the possibility of being recorded provides a quasi-independent check on reckless testifying, thereby strengthening the reasonability of relying on the words of others. Recordings do this in two distinctive ways: actively correcting errors in past testimony and passively regulating ongoing testimonial practices.”The problem with deepfake technology is that it undermines this function. Audiovisual recordings can no longer provide the epistemic backstop that keeps us honest.What does this mean for the law? I am not overly concerned about the impact of deepfake technology on legal evidence-gathering practices. The legal system, with its insistence on ‘chain of custody’ and testimonial verification of audiovisual materials, is perhaps better placed than most to deal with the threat of deepfakes (though there will be an increased need for forensic experts to identify deepfake recordings in court proceedings). What I am more concerned about is how deepfake technologies will be weaponised to harm and intimidate others — particularly members of vulnerable populations. The question is whether anything can be done to provide legal redress for these problems? As Barraclough and Barnes point out in their report, it is exceptionally difficult to legislate in this area. How do you define the difference between real and synthetic media (if at all)? How do you balance the free speech rights against the potential harms to others? Do we need specialised laws to do this or are existing laws on defamation and fraud (say) up to the task? Furthermore, given that deepfakes can be created and distributed by unknown actors, who would the potential cause of action be against?These are difficult questions to answer. The one concrete suggestion I would make is that any existing or proposed legislation on ‘revenge porn’ should be modified so that it explicitly covers the possibility of synthetic revenge porn. Ireland is currently in the midst of legislating against the nonconsensual sharing of ‘intimate images’ in the Harassment, Harmful Communications and Related Offences Bill. I note that the current wording of the offence in section 4 of the Bill covers images that have been ‘altered’ but someone might argue that synthetically constructed images are not, strictly speaking, altered. There may be plans to change this wording to cover this possibility — I know that consultations and amendments to the Bill are ongoing[11] — but if there aren’t then I suggest that there should be.To reiterate, I am using deepfake technology as an illustration of a more general problem. There are many other ways in which the combination data and AI can be used to mess with the distinction between fact and fiction. The algorithmic curation and promotion of fake news, for example, or the use of virtual and augmented reality to manipulate our perception of public and private spaces, both pose significant threats to property rights, privacy rights and political rights. We need to do something to legally manage this brave new (technologically constructed) world.4. Case Study: Algorithmic Risk PredictionLet me turn turn now to my final case study. This one has to do with how data can be used to prompt new actions and behaviours in the world. For this case study, I will look to the world of algorithmic risk prediction. This is where we take a collection of datapoints concerning an individual’s behaviour and lifestyle and feed it into an algorithm that can make predictions about their likely future behaviour. This is a long-standing practice in insurance, and is now being used in making credit decisions, tax auditing, child protection, and criminal justice (to name but a few examples). I’ll focus on its use in criminal justice for illustrative purposes.Specifically, I will focus on the debate surrounding the COMPAS algorithm, that has been used in a number of US states. The COMPAS algorithm (created by a company called Northpointe, now called Equivant) uses datapoints to generate a recidivism risk score for criminal defendants. The datapoints include things like the person’s age at arrest, their prior arrest/conviction record, the number of family members who have been arrested/convicted, their address, their education and job and so on. These are then weighted together using an algorithm to generate a risk score. The exact weighting procedure is unclear, since the COMPAS algorithm is a proprietary technology, but the company that created it has released a considerable amount of information about the datapoints it uses into the public domain.If you know anything about the COMPAS algorithm you will know that it has been controversial. The controversy stems from two features of how the algorithm works. First, the algorithm is relatively opaque. This is a problem because the fair administration of justice requires that legal decision-making be transparent and open to challenge. A defendant has a right to know how a tribunal or court arrived at its decision and to challenge or question its reasoning. If this information isn’t known — either because the algorithm is intrinsically opaque or has been intentionally rendered opaque for reasons of intellectual property — then this principle of fair administration is not being upheld. This was one of the grounds on which the use of COMPAS algorithm was challenged in the US case of Loomis v Wisconsin.[12] In that case, the defendant, Loomis, challenged his sentencing decision on the basis that the trial court had relied on the COMPAS risk score in reaching its decision. His challenge was ultimately unsuccessful. The Wisconsin Supreme Court reasoned that the trial court had not relied solely on the COMPAS risk score in reaching its decision. The risk score was just one input into the court’s decision-making process, which was itself transparent and open to challenge. That said, the court did agree that courts should be wary when relying on such algorithms and said that warnings should be attached to the scores to highlight their limitations.The second controversy associated with the COMPAS algorithm has to do with its apparent racial bias. To understand this controversy I need to say a little bit more about how the algorithm works. Very roughly, the COMPAS algorithm is used to sort defendants into to outcome ‘buckets’: a 'high risk' reoffender bucket or a 'low risk' reoffender bucket. A number of years back a group of data journalists based at ProPublica conducted an investigation into which kinds of defendants got sorted into those buckets. They discovered something disturbing. They found that the COMPAS algorithm was more likely to give black defendants a false positive high risk score and more likely to give white defendants a false negative low risk score. The exact figures are given in the table below. Put another way, the COMPAS algorithm tended to rate black defendants as being higher risk than they actually were and white defendants as being lower risk than they actually were. This was all despite the fact that the algorithm did not explicitly use race as a criterion in its risk scores.Needless to say, the makers of the COMPAS algorithm were not happy about this finding. They defended their algorithm, arguing that it was in fact fair and non-discriminatory because it was well calibrated. In other words, they argued that it was equally accurate in scoring defendants, irrespective of their race. If it said a black defendant was high risk, it was right about 60% of the time and if it said that a white defendant was high risk, it was right about 60% of the time. This turns out to be true. The reason why it doesn't immediately look like it is equally accurate upon a first glance at the relevant figures is that there are a lot more black defendants than white defendants -- an unfortunate feature of the US criminal justice system that is not caused by the algorithm but is, rather, a feature the algorithm has to work around.So what is going on here? Is the algorithm fair or not? Here is where things get interesting. Several groups of mathematicians analysed this case and showed that the main problem here is that the makers of COMPAS and the data journalists were working with different conceptions of fairness and that these conceptions were fundamentally incompatible. This is something that can be formally proved. The clearest articulation of this proof can be found in a paper by Jon Kleinberg, Sendhil Mullainathan and Manish Raghavan.[13] To simplify their argument, they said that there are two things you might want a fair decision algorithm to do: (i) you might want it to be well-calibrated (i.e. equally accurate in its scoring irrespective of racial group); (ii) you might want it to achieve an equal representation for all groups in the outcome buckets. They then proved that except in two unusual cases, it is impossible to satisfy both criteria. The two unusual cases are when the algorithm is a 'perfect predictor' (i.e. it always get things right) or, alternatively, when the base rates for the relevant populations are the same (e.g. there are the same number of black defedants as there are white defendants). Since no algorithmic decision procedure is a perfect predictor, and since our world is full of base rate inequalities, this means that no plausible real-world use of a predictive algorithm is likely to be perfectly fair and non-discriminatory. What's more, this is generally true for all algorithmic risk predictions and not just true for cases involving recidivism risk. If you would like to see a non-mathematical illustration of the problem, I highly recommend checking out a recent article in the MIT Technology Review which includes a game you can play using the COMPAS algorithm and which illustrates the hard tradeoff between different conceptions of fairness.[14]What does all this mean for the law? Well, when it comes to the issue of transparency and challengeability, it is worth noting that the GDPR, in articles 13-15 and article 22, contains what some people refer to as a ‘right to explanation’. It states that, when automated decision procedures are used, people have a right to access meaningful information about the logic underlying the procedures. What this meaningful information looks like in practice is open to some interpretation, though there is now an increasing amount of guidance from national data protection units about what is expected.[15] But in some ways this misses the deeper point. Even if we make these procedures perfectly transparent and explainable, there remains the question about how we manage the hard tradeoff between different conceptions of fairness and non-discrimination. Our legal conceptions of fairness are multidimensional and require us to balance competing interests. When we rely on human decision-makers to determine what is fair, we accept that there will be some fudging and compromise involved. Right now, we let this fudging take place inside the minds of the human decision-makers, oftentimes without questioning it too much or making it too explicit. The problem with algorithmic risk predictions is that they force us to make this fudging explicit and precise. We can no longer pretend that the decision has successfully balanced all the competing interests and demands. We have to pick and choose. Thus, in some ways, the real challenge with these systems is not that they are opaque and non-transparent but, rather, that when they are transparent they force us to make hard choices.To some, this is the great advantage of algorithmic risk prediction. A paper by Jon Kleinberg, Jens Ludwig, Sendhil Mullainathan and Cass Sunstein entitled ‘Discrimination in the Age of the Algorithm’ makes this very case.[16] They argue that the real problem at the moment is that decision-making is discriminatory and its discriminatory nature is often implicit and hidden from view. The widespread use of transparent algorithms will force it into the open where it can be washed by the great disinfectant of sunlight. But I suspect others will be less sanguine about this new world of algorithmically mediated justice. They will argue that human-led decision-making, with its implicit fudging, is preferable, partly because it allows us to sustain the illusion of justice. Which world do we want to live in? The transparent and explicit world imagined by Kleinberg et al, or the murky and more implicit world of human decision-making? This is also a key legal challenge for the modern age.5. ConclusionIt’s time for me to wrap up. One lingering question you might have is whether any of the challenges outlined above are genuinely new. This is a topic worth debating. In one sense, there is nothing completely new about the challenges I have just discussed. We have been dealing with variations of them for as long as humans have lived in complex, literate societies. Nevertheless, there are some differences with the past. There are differences of scope and scale — mass surveillance and AI enables collection of data at an unprecedented scale and its use on millions of people at the same time. There are differences of speed and individuation — AI systems can update their operating parameters in real time and in highly individualised ways. And finally, there are the crucial differences in the degree of autonomy with which these systems operate, which can lead to problems in how we assign legal responsibility and liability.Endnotes[1] I am indebted to Jacob Turner for drawing my attention to this story. He discusses it in his book Robot Rules - Regulating Artificial Intelligence (Palgrave MacMillan, 2018). This is probably the best currently available book about Ai and law. [2] See https://www.irishtimes.com/business/technology/airport-facial-scanning-dystopian-nightmare-rebranded-as-travel-perk-1.3986321; and https://www.dublinairport.com/latest-news/2019/05/31/dublin-airport-participates-in-biometrics-trial [3] https://arstechnica.com/tech-policy/2016/04/facial-recognition-service-becomes-a-weapon-against-russian-porn-actresses/# [4] This was a stunt conducted by the ACLU. See here for the press release https://www.aclu.org/blog/privacy-technology/surveillance-technologies/amazons-face-recognition-falsely-matched-28 [5] https://www.perpetuallineup.org/ [6] For the story, see here https://www.bbc.com/news/technology-49489154 [7] Their original call for this can be found here: https://medium.com/s/story/facial-recognition-is-the-perfect-tool-for-oppression-bc2a08f0fe66 [8] The video can be found here; https://www.youtube.com/watch?v=UCwbJxW-ZRg; For more information on the research see here: https://www.washington.edu/news/2017/07/11/lip-syncing-obama-new-tools-turn-audio-clips-into-realistic-video/; https://grail.cs.washington.edu/projects/AudioToObama/siggraph17_obama.pdf [9] The full report can be found here: https://static1.squarespace.com/static/5ca2c7abc2ff614d3d0f74b5/t/5ce26307ad4eec00016e423c/1558340402742/Perception+Inception+Report+EMBARGOED+TILL+21+May+2019.pdf [10] The paper currently exists in a draft form but can be found here: https://philpapers.org/rec/RINDAT [11] https://www.dccae.gov.ie/en-ie/communications/consultations/Pages/Regulation-of-Harmful-Online-Content-and-the-Implementation-of-the-revised-Audiovisual-Media-Services-Directive.aspx [12] For a summary of the judgment, see here: https://harvardlawreview.org/2017/03/state-v-loomis/ [13] “Inherent Tradeoffs in the Fair Determination of Risk Scores” - available here https://arxiv.org/abs/1609.05807 [14] The article can be found at this link - https://www.technologyreview.com/s/613508/ai-fairer-than-judge-criminal-risk-assessment-algorithm/ [15] Casey et al ‘Rethinking Explainabie Machines’ - available here https://scholarship.law.berkeley.edu/btlj/vol34/iss1/4/ [16] An open access version of the paper can be downloaded here https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3329669 #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; } /* Add your own MailChimp form style overrides in your site stylesheet or in this style block. 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As we wind up the year, I’m focused in this show on helping you create a much better structure for self-care in the coming year. I begin with an essay from my blog, Not Enough Time or Money? Could it be the Scarcity Trap? This one’s for you if you constantly feel like you just can’t find the time or the money to meet your needs. I was really inspired by some reading on this subject, a book by Sendhil Mullainathan called Scarcity: Why Having So Little Means So Much The main essay in this show is really like a tiny ½ hour workshop you can do to structure your self-care in 2020. You will: Determine your needs See where the gaps are exactly Brainstorm what you’d love to have in your life Set up a system that really works Get the added support you need to keep self-care coming Think of it as my gift to you this holiday season. Happy holidays, my friend … I’m so glad to be sharing my work with you! RESOURCES The How’s Your Self-Care Questionnaire Suzanne’s new book, The Extremely Busy Woman’s Guide to Self-Care

Nono Martínez Alonso on his story, his worldview, how and why he started Getting Simple, and the struggles and joys of making a podcast about simple living, doing less better, and crafting your own lifestyle. Nono Martínez Alonso hosts The Getting Simple Podcast—a show about how you can live a productive, creative, and simple life, in the form of friendly, long-form conversations with creative from eclectic areas—sketches things that call his attention, and writes about enjoying a slower life. Nono is an architect and computational designer with a penchant for simplicity, who focuses on the development of intuitive tools for creatives, and on how the collaboration between human and artificial intelligences can enhance the design process. Currently, Nono works remotely as a Machine Learning Engineer and Designer for Autodesk from Málaga, Spain. Previously, Nono studied Technology at the Harvard Graduate School of Design in Cambridge, Massachusetts, and worked in the design and delivery of complex architectural geometries at award-winning firms, such as AR-MA (Sydney) and Foster + Partners (London). Links Growth mindset (concept) The Growth Mindset: How to Measure Your Own Success Folio Lobe.ai Otter Interview topics of Getting Simple Twenty Thousand Hertz by Dallas Taylor (podcast) The Minimalists (podcast) Hurry Slowly by Jocelyn K. Glei (podcast) The default network (concept) What Screens Want by Frank Chimero Akimbo: A Podcast from Seth Godin SmartGeometry MIT Media Lab nono.ma/items nono.ma/books nono.ma/to-read Books Scarcity by Sendhil Mullainathan and Eldar Shafir Emotional Intelligence by Daniel Goleman So Good They Can't Ignore You by Cal Newport Deep Work by Cal Newport Digital Minimalism by Cal Newport Atomic Habits by James Clear Mindset by Carol Dweck Getting Things Done by David Allen Tribes by Seth Godin All Marketers Are Liars by Seth Godin The Information by James Gleick The Inevitable by Kevin Kelly People mentioned Jose Luis García del Castillo Ana García Puyol Seth Godin Descartes Plato Nietzsche Francine Jay, Miss Minimalist Lourdes Alonso Carrión Panagiotis Michalatos James Melouney Cal Newport Adam Menges Tim Ferriss Zach Kron Andres Colubri Ian Keough Ben Fry James Clear Carol Dweck Jocelyn K. Glei Marie Kondo Daniel Goleman Frank Chimero David Allen James Gleick Kevin Kelly Part 1 — Nono's story [2:33] What defines Nono Martínez Alonso and how did you get there? [3:10] Nono's first steps with computers, technology, and programming. [6:00] Burnout at architecture school and going abroad. [10:56] Getting time to focus and learning how to code. [12:57] How did you end up in Boston and Cambridge, Massachusetts? [13:59] How has going back to Spain been to you? [17:26] What makes working remotely go well? [18:33] What distracts Nono Martínez Alonso? [20:18] Choosing what to work on. [22:54] Less, better. [23:27] What bores you? [24:12] Can you name a successful person? [24:27] Do you consider yourself successful? [25:40] What would you tell your listeners? [27:43] The role of tools and getting better. [31:29] Sharing your tools - Creating tools for others and Folio. [33:02] What's in your future plans? [36:16] Part 2 — The Getting Simple Podcast [36:47] How did the podcast start? [36:57] Why is simplicity so important for you? And where does the Getting Simple name come from? [40:33] The making of this podcast - How much time does it take you to do this podcast, how much cleaning and editing do you do and how, how much time you spent with guests? [41:34] What was the hardest thing to make this podcast at the beginning, and what's the hardest thing now that you're experienced? [45:58] Do you have a script for each interview? [46:41] What's difficult about doing this podcast? [48:10] Nice moments of the podcast. [49:54] Who's rejected your invitation to the podcast? [51:11] What's this podcast really about? [53:10] Where is the Getting Simple podcast going? [57:45] A public invitation to podcast guests, and who would you like to have in the show? [1:00:52] Part 3 — Lightning round [1:01:47] How do you deal with digital clutter? [1:01:59] What does your daily commute look like? [1:02:38] Two ways to start your day. [1:04:03] What does your ideal morning routine look like? [1:04:42] When do you get your best ideas? [1:05:36] Quitting caffeine and alcohol - Self-imposed restrictions, delaying gratification, and willpower. [1:07:21] A healthy relationship with technology. [1:11:27] A recent purchase of $100 o less. [1:18:13] What's your take on clothing? [1:19:10] nono.ma/items. [1:20:34] Book recommendations. [1:21:57] How can people connect with you online? [1:24:46] How did it feel to be interviewed? [1:25:37] Outro. [1:27:02] Submit your questions and I'll try to answer them in future episodes. I'd love to hear from you. If you enjoy the show, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and really helps. Show notes, transcripts, and past episodes at gettingsimple.com/podcast. Theme song Sleep by Steve Combs under CC BY 4.0. Follow Nono Twitter.com/nonoesp Instagram.com/nonoesp Facebook.com/nonomartinezalonso YouTube.com/nonomartinezalonso

Our guest on the podcast today is Dr. Jeffrey Brown, the Josef and Margot Lakonishok Professor and the Dean of the University of Illinois Gies College of Business. A key focus of Dean Brown's research is how to create sustainable retirement income, including the role of annuities, Social Security, 401(k)s, pensions and long-term care planning. He's a research affiliate at the National Bureau of Economic Research, a faculty affiliate of the Institute on Government and Policy Affairs, and a fellow at the TIAA Institute. He also serves as a trustee for TIAA. In addition, he served on the Social Security Advisory Board under President George W. Bush and was also a senior economist at the White House Council of Economic Advisers. He has published extensively on the topic of retirement security and public and private insurance markets, and he has received numerous awards for his research as well. He holds a Ph.D. in economics from MIT, and a master's in public policy from Harvard.BackgroundJeffrey Brown bioJeffrey Brown C.V. Jeffrey Brown publications and working papers  Defined Contribution (DC) PlansDefined contribution plan definition Defined benefit plan definition “A Brief History of the 401(k), Which Changed How Americans Retire,” by Kathleen Elkins, CNBC.com, Jan. 4, 2017.“The Disappearing Defined Benefit Pension and Its Potential Impact on the Retirement Incomes of Baby Boomers,” by Barbara A. Butrica, Howard M. Iams, Karen E. Smith, and Eric J. Toder, Social Security Bulletin, Vol. 69, No. 3, 2009.“What Killed Pensions,” by Mary Beth Franklin, Kiplinger, Oct. 6, 2011.“Public Pensions Are Still Marching to Their Death,” by Jeffrey Dorfman, Forbes.com, Sept. 11, 2014.“House Passes SECURE Act to Ease 401(k) Compliance, Promote Savings,” by Stephen Miller, SHRM.org, May 23, 2019.“How the SECURE Act Would Impact Your 401(k),” by Simon Moore, Forbes.com, June 25, 2019.“Annuities in 401(k)s Won’t Solve the Retirement Crisis. Here’s Why,” by Mary Romano, Barron’s, June 28, 2019.“What Does It Mean to Annuitize?” by Justin Pritchard, Thebalance.com, Jan. 21, 2019.“Crash Course Needed: Four Out of Five Americans Fail When Quizzed on How to Make Their Nest Eggs Last,” by The American College for Financial Planning, Dec. 3, 2014.“401(k) Nudges and Course Corrections,” by Kimberly Blanton, Squared Away blog, Oct. 24, 2017.“Thank Richard Thaler for Your Retirement Savings,” by Ben Steverman, Bloomberg, Oct. 10, 2017.“Plan Quality Varies Significantly by Industry,” by John Manganaro, PlanAdviser, March 20, 2017.“Corporate Profits and 401(k) Plan Performance Go Hand in Hand: T. Rowe Price,” by Michael S. Fischer, ThinkAdvisor, Sept. 17, 2018.“The Conundrum of State-Run Retirement Plans,” by Terry Dunne, InvestmentNews, May 8, 2017.“Reasons to Be Wary of State-Run Retirement Plans,” by Jeffrey Brown, Forbes.com, Feb. 10, 2014.Multiple Employer Plan (MEP) definition“How Hard Should We Push the Poor to Save for Retirement?” by Andrew G. Biggs, The Journal of Retirement, Spring 2019.Thrift Savings Plan  Annuities“Use Annuities to Protect Yourself from Yourself,” by Jeffrey Brown, Forbes.com, May 22, 2014.“Income Annuities Provide Retirees Longevity Protection,” by Wade Pfau, Investment News, Sept. 28, 2019.“Why Don’t People Insure Late-Life Consumption? A Framing Explanation of the Under-Annuitization Puzzle,” by Jeffrey R. Brown, Jeffrey R. Kling, Sendhil Mullainathan, and Marian V. Wrobel, National Bureau of Economic Research, January 2008.Variable annuity definitionEquity-indexed annuity definitionDeferred payment annuity definition“The Main Types of Annuities Made Easy,” by Clair Boyte-White, Investopedia, July 27, 2019.“Annuities and Inflation Risk,” by Robert Bloink and William H. Byrnes, ThinkAdvisor, Sept. 3, 2011.“Lifetime Income for Women: A Financial Economist’s Perspective,” by David F. Babbel, Wharton Financial Institutions Center Policy Brief, Aug. 12, 2008.“Jeff Brown Tackles Tough Annuity Questions,” by Michael Finke, ThinkAdvisor, Sept. 29, 2014.“Annuities and Individual Welfare,” by Thomas Davidoff, Jeffrey Brown, and Peter Diamond, The Center for Retirement Research at Boston College, May 2003.“Behavioral Impediments to Valuing Annuities: Complexity and Choice Bracketing,” by Jeffrey R. Brown, Arie Kapteyn, Erzo F.P. Luttmer, Olivia S. Mitchell, and Anya Samek. National Bureau of Economic Research, Oct. 11, 2019.Intertemporal choice definition  Long-Term Care“Does Medicare Cover Long-Term Care?” Medicare.com"Insuring Long-Term Care in the U.S.," by Jeffrey Brown and Amy Finkelstein, National Bureau of Economic Research, September 2011.“The Interaction of Public and Private Insurance: Medicaid and the Long-Term Care Insurance Market,” by Jeffrey R. Brown and Amy Finkelstein, National Bureau of Economic Research, October 2004.“Can Increasing The Long-Term Care Insurance Elimination Period Make Coverage Appealing Again?” by Michael Kitces, Nerd’s Eye View, Jan. 7, 2015.Long-Term Care Financing Project“Hybrid Long-Term Care Policies,” by Wade Pfau, Forbes.com, Jan. 21, 2016.“Is the LTC Cost Guarantee of Today's Hybrid Life/LTC or Annuity/LTC Insurance Policies Just a Mirage?” by Michael Kitces, Nerd’s Eye View, Oct. 16, 2013.“Life-LTC Hybrid Sales Level Off: LIMRA,” by Allison Bell, ThinkAdvisor, July 22, 2019.  Social SecuritySocial Security Trustees’ Summary Report, 2019.“How Would You Fix Social Security?” The Center for Retirement Research at Boston College.“How the Latest Report on Social Security’s Solvency Changes Your Retirement Plan,” by Bob Carlson, Forbes.com, May 24, 2019.

If you’ve toured through any old world cities, you’ve probably marveled at ancient buildings that have stood the test of time. You might think to yourself, “They sure made things to last back in those days.” And while the Notre Dame Cathedral or the Parthenon or the Tower of London may seem like proof of the superior workmanship of a bygone era, what you don’t see are all the other buildings erected during the same period that have since crumbled or been torn down.In this episode of Choiceology with Katy Milkman, we look at a bias that often clouds the way we evaluate success and failure.We begin with the scientific awakening of Joseph Banks Rhine in the 1920s, during the peak of the spiritualist movement. Rhine was trained in science and wanted to apply the scientific method to his research into paranormal phenomena. Science taught him to be skeptical, so when Rhine’s research results seemed to demonstrate the existence of extra-sensory perception, or ESP, he believed he had found proof of a new aspect of human nature. The findings led to academic accolades and substantial financial support, until others tried to replicate his results.Next, we present a survey on musical acts and college drop-outs to demonstrate how easy it is to discount important information—when that information is not readily apparent.  To look at the science behind this bias, Katy has enlisted two scholars to help explain it in different contexts. First, Sendhil Mullainathan provides useful examples of the bias in the world of investing and hiring. Sendhil is the Roman Family University Professor of Computation and Behavioral Science at the University of Chicago Booth School of Business. He’s also the co-author of the book Scarcity: Why Having Too Little Means So Much. Then, Emily Oster talks about the ways that doctors and parents sometimes unintentionally ignore important information when attempting to solve problems. Emily is a professor of economics at Brown University. Her most recent book is called Cribsheet: A Data-Driven Guide to Better, More Relaxed Parenting From Birth to Preschool. Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts.Important Disclosures:All expressions of opinion are subject to change without notice in reaction to shifting market conditions.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(1119-9NGD)

Think back to a situation where you’ve been really pressed for time. Chances are good that the pressure of a deadline or an appointment caused you to be (a) hyper-focused and efficient or (b) panicked and prone to errors.Now think of a situation where you had plenty of available time. While you were probably much less stressed, it’s also likely that the superpowers of hyper-focus didn’t come so easily.In this episode of Choiceology with Katy Milkman, we look at how not having enough time or money or other resources affects behavior and decision-making.We begin the episode with Howard Scott Warshaw. Warshaw was a very successful game developer at Atari during the company’s heyday in the 1980s. He worked on several best-selling titles, including the hit game Yar’s Revenge. However, he is probably best known for creating E.T. the Extra Terrestrial video game. Some consider it the worst commercial video game ever released. The reason E.T. was so unsuccessful as a gaming experience and a commercial product may have more to do with Atari’s development timeline than with Warshaw’s concept or design.Next, we test our hypothesis about resource scarcity with a simple bean-bag-toss game. Half of our players were given five bags to throw, while the other half were given only one. You may be surprised to find out which players were more accurate, on average, with their tosses.Katy then jumps into the science of scarcity with Sendhil Mullainathan. Mullainathan explains that while scarcity taxes the mind and can lead to poor decision-making, it can also pay dividends with increased focus.Sendhil Mullainathan is the Roman Family University Professor of Computation and Behavioral Science at the University of Chicago Booth School of Business. He is also the author of Scarcity: Why Having Too Little Means So Much.Anuj K. Shah is a colleague and research collaborator with Sendhil Mullainathan. He joins Katy to discuss simple strategies to help offset the mental load of scarcity. He is an associate professor of behavioral science at the University of Chicago Booth School of Business.Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts.Important Disclosures:All expressions of opinion are subject to change without notice in reaction to shifting market conditions.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.(0919-9CPR)

I don’t ordinarily find myself scrambling to write down article ideas during these conversations, but almost everything Raj Chetty says is worth a feature unto itself. For instance: - Great Kindergarten teachers generate hundreds of thousands of dollars in future earnings for their students - Solving poverty would increase life expectancy by more — far more — than curing cancer - Public investment focused on children often pays for itself - The American dream is more alive in Canada than in America - Maps of American slavery look eerily like maps of American social mobility — but not for the reason you’d think Chetty is a Harvard economist who has been called “the most influential economist alive today.” He’s considered by his peers to be a shoo-in for the Nobel prize. He specializes in bringing massive amounts of data to bear on the question of social mobility: which communities have it, how they got it, and what we can learn from them. What Chetty says in this conversation could power a decade of American social policy. It probably should. References: Atlantic profile Vox profile Books: Scarcity:The New Science of Having Less and How It Defines Our Lives by Sendhil Mullainathan and Eldar Shafir Evicted: Poverty and Profit in the American City by Matt Desmond How to Catch a Heffalump Want to contact the show? Reach out at ezrakleinshow@vox.com  Learn more about your ad choices. Visit megaphone.fm/adchoices

A new series. Ties in seamlessly with tip 85 of “97-Science Backed Ways to Improve Productivity and Creativity,” written by me and available on Medium.85. Apparently, there’s research indicating that being poor, being economically burdened impairs cognition and that impairment is like a 13-point drop in IQ or like the difference between chronic alcoholics and those without chronic alcoholism.This correlation between financial pressure and cognition (or mental bandwidth) has been researched by MacArthur Genius, Harvard Economics professor, and author of Scarcity: Why Having So Little Means So Much, Sendhil Mullainathan. [tip 86 of 105] of 97 Science-Backed Tips for Improved Productivity + CreativityEmoji time:

With Becka out on assignment, we have guest host Anup Jadhav from the Salesforce Posse podcast. We talk Facebook's Libra crypto, why banks suck, and Jodi's personal hobby horse... postal banking. LINKS | SHOW NOTES: The Libra association: https://libra.org/en-US/association/ Salesforce posse: https://salesforceposse.com/ The campaign for postal banking: http://www.campaignforpostalbanking.org/know-the-facts/ Fleabag on Amazon: https://www.amazon.com/Fleabag-Season-1/dp/B01J4SSP6E The Art of Manliness (episode 512)- Why Generalists Triumph in a Specialized World: https://www.artofmanliness.com/articles/generalist-specialist-david-epstein-interview/ Ezra Klein Show- The cognitive cost of poverty (with Sendhil Mullainathan): https://www.spreaker.com/user/8389941/the-cognitive-cost-of-poverty-with-sendh THEY'VE GOT ⭐⭐⭐⭐ ON THEIR SHIRTS!

If you’re a Parks and Rec fan, you’ll remember Ron Swanson’s Pyramid of Greatness. Right there at the base sits “Capitalism: God’s way of determining who is smart and who is poor.” It’s a joke, but not really. Few want to justify the existence of poverty, but when they do, that's how they do it. People in poverty just aren’t smart enough, or hard-working enough, or they’re not making good enough decisions. There’s a moral void in that logic to begin with — but it also gets the reality largely backward. “The poor do have lower effective capacity than those who are well off,” write Sendhil Mullainathan and Eldar Shafir in their book Scarcity. "This is not because they are less capable, but rather because part of their mind is captured by scarcity.” They show, across continents and contexts, that the more economic pressure you place on people, the worse their cognitive performance becomes. Mullainathan is a genius. A literal, MacArthur-certified genius. He’s an economist at the Chicago Booth School of Business who has published foundational work on a truly dizzying array of topics, but his most important research is around what scarcity does to the brain. This is work with radical implications for how we think about inequality and social policy. One thing I appreciated about Mullainathan in this conversation is that he doesn’t shy away from that. This is one of those conversations I wanted to have because the ideas are so important and persuasive. I didn’t expect Mullainathan to be such a delight to talk to. But since he was, we also discussed the economics of our AI-soaked future, the power of rigid rules, the reason conversation is so much better in person, why cigarette taxes make smokers happier, what Star Trek got wrong, and how he’s managed to do so much important work in such a vast array of disciplines. We could’ve gone for three more hours, easily. If you liked this episode, you should also check out the Robert Sapolsky and Mehrsa Baradaran podcasts. Book recommendations: One Hundred Years of Solitudeby Gabriel García Márquez Where Good Ideas Come From: The Natural History of Innovation by Steven Johnson Man's Search for Meaning by Viktor E. Frankl Learn more about your ad choices. Visit megaphone.fm/adchoices

Keynote speech by Sendhil Mullainathan, Professor of Computation and Behavioural Science at the University of Chicago Panellists: Dr David Halpern, Chief Executive of the Behavioural Insights Team Rachel Glennerster, Chief Economist at the Department for International Development. Chair: Gavin Freeguard, Programme Director, Head of Data and Transparency, at the Institute for Government Recorded as part of the Institute for Government's 10-year Anniversary Conference.

Understanding our bodies and caring for them is critical to a long and happy STEM life.  Often, when people are striving to be their very best as STEM professionals, they are faced with the importance of self-care.  On this episode, our hosts speak with nutritionist, Shelley Rael, about the different self-care strategies that are critical for a healthy and wealthy life.                                                                                                                                                    Show Notes Contrary to her title, Shelley Rael, MS RDN doesn’t believe in diets.  A registered dietitian nutritionist since 1999, she helps people change their mindset about food, eliminating rules and judgment while supporting a lifestyle that gives you sustainable energy.  Rather than gimmicks, supplements, or fad diets, Shelley works with individuals to create Customized Nutrition Blueprints, or action plans, for sustainable all-day physical and mental energy.  Having worked in wellness, health promotion and disease prevention/risk reduction her entire career, she knows there is no one diet that works for everyone and helps people choose a way of eating that works for them year-round, not just before a big event, vacation, season or change of the calendar.  Fads, trends, and quick fixes will come and go, but eating will always be necessary. Shelley Rael Quest for Energy (webinar)   Eating is not Cheating (webinar) Six Tips Ebook Blog Real World Nutrition (Facebook)   Book Recommendation: Scarcity: The New Science of Having Less and How It Defines Our Lives, by Sendhil Mullainathan and Eldar Shafir Snake Oil Science: The Truth about Complementary and Alternative Medicine, by R. Bauker Bausell, PhD   Contact: Shelley@ShelleyRael.com (505) 373-0407 Facebook Linkedin Twitter Pinterest

Understanding our bodies and caring for them is critical to a long and happy STEM life.  Often, when people are striving to be their very best as STEM professionals, they are faced with the importance of self-care.  On this episode, our hosts speak with nutritionist, Shelley Rael, about the different self-care strategies that are critical for a healthy and wealthy life.                                                                                                                                                    Show Notes Contrary to her title, Shelley Rael, MS RDN doesn’t believe in diets.  A registered dietitian nutritionist since 1999, she helps people change their mindset about food, eliminating rules and judgment while supporting a lifestyle that gives you sustainable energy.  Rather than gimmicks, supplements, or fad diets, Shelley works with individuals to create Customized Nutrition Blueprints, or action plans, for sustainable all-day physical and mental energy.  Having worked in wellness, health promotion and disease prevention/risk reduction her entire career, she knows there is no one diet that works for everyone and helps people choose a way of eating that works for them year-round, not just before a big event, vacation, season or change of the calendar.  Fads, trends, and quick fixes will come and go, but eating will always be necessary. Shelley Rael Quest for Energy (webinar)   Eating is not Cheating (webinar) Six Tips Ebook Blog Real World Nutrition (Facebook)   Book Recommendation: Scarcity: The New Science of Having Less and How It Defines Our Lives, by Sendhil Mullainathan and Eldar Shafir Snake Oil Science: The Truth about Complementary and Alternative Medicine, by R. Bauker Bausell, PhD   Contact: Shelley@ShelleyRael.com (505) 373-0407 Facebook Linkedin Twitter Pinterest

Jessica Abel is cartoonist and author who is demystifying the creative process. Join us as we talk about her philosophy that the creative life is just . . . life. You’ll gain practical strategies for integrating creativity into your everyday life with systems and routines that work for you. Books and Links We Talked About Growing Gills: How to Find Creative Focus When You’re Drowning in Your Daily Life by Jessica Abel The Creative Focus Workshop Article on the scarcity mindset: If Creativity Is So Freeing, Why Do I Feel Like I'm Trapped? Scarcity: The New Science of Having Less and How It Defines Our Lives by Sendhil Mullainathan and Eldar Shafir Here’s where you can find more about Jessica and her creativity resources: Website: https://jessicaabel.com/ Twitter: https://twitter.com/jccabel Instagram: https://www.instagram.com/visiblewoman/ Facebook: https://www.facebook.com/jccabel Books: https://jessicaabel.com/books/ Here’s where you can find Abbie: Website: http://www.inkwellsandimages.com Instagram: http://instagram.com/abbigailekriebs Twitter: http://twitter.com/abbigailekriebs Pinterest: https://www.pinterest.com/abbigailekriebs/ Facebook: http://facebook.com/inkwellsandimages Here’s where you can find Ashley: Personal blog: http://www.ashleybrookswrites.com Business website: http://www.brookseditorial.com Instagram: http://instagram.com/ashleybrookswrites Twitter: http://twitter.com/brookseditorial Pinterest: http://pinterest.com/brookseditorial

Why is the poverty level dropping when the gap between how much it costs to live and how much families earn is actually growing? Workers across the United States are experiencing income insufficiency—the phenomena of working for a wage that doesn't pay enough to cover basic needs but earning too much to be eligible for social support programs. They work in some of our most crucial jobs – keeping us safe as security guards, caring for loved ones as Home Aids, helping us with our bags at the grocery store – but their struggles have been rendered invisible by the Federal Poverty Measure. A new measure from the United Way ALICE (Asset Limited Income Constrained Employed) project shines some much needed light on the problem, finding that a whopping 43% of American households aren’t making it in today’s economy, triple the federal poverty rate. These households are in every U.S. county and include every gender, race, ethnicity, and age. Join us as we talk with ALICE Project Director Dr. Stephanie Hoopes and staunch ALICE advocate Karen Perham-Lippman, Deputy Commissioner in Connecticut’s Department of Consumer Protection, to help us learn about how families are getting by, and what we can do about it. Related SP2 Faculty Dr. Bobbie Iversen: https://www.sp2.upenn.edu/people/view/roberta-iversen/ Other Resources The ALICE website: unitedwayalice.org See if you can make it on ALICE’s wages: http://www.makingtoughchoices.org Philadelphia’s Fair work week legislation:http://www.phillytrib.com/news/fair-work-week-bill-continues-to-wind-through-city-council/article_6bdc82a1-fba5-5035-9a5d-49ea6baf4e6c.html National Center for Children in Poverty: http://www.nccp.org/publications/pub_892.html The Spread of GoFundMe: https://www.mprnews.org/story/2018/07/02/health-care-gofundme-crowdfunding-doctor-bills-minn) “Scarcity" by Sendhil Mullainathan: https://www.barnesandnoble.com/w/scarcity-sendhil-mullainathan/1114258421

Why is the poverty level dropping when the gap between how much it costs to live and how much families earn is actually growing? Workers across the United States are experiencing income insufficiency—the phenomena of working for a wage that doesn't pay enough to cover basic needs but earning too much to be eligible for social support programs. They work in some of our most crucial jobs – keeping us safe as security guards, caring for loved ones as Home Aids, helping us with our bags at the grocery store – but their struggles have been rendered invisible by the Federal Poverty Measure. A new measure from the United Way ALICE (Asset Limited Income Constrained Employed) project shines some much needed light on the problem, finding that a whopping 43% of American households aren’t making it in today’s economy, triple the federal poverty rate. These households are in every U.S. county and include every gender, race, ethnicity, and age. Join us as we talk with ALICE Project Director Dr. Stephanie Hoopes and staunch ALICE advocate Karen Perham-Lippman, Deputy Commissioner in Connecticut’s Department of Consumer Protection, to help us learn about how families are getting by, and what we can do about it. Related SP2 Faculty Dr. Bobbie Iversen: https://www.sp2.upenn.edu/people/view/roberta-iversen/ Other Resources The ALICE website: unitedwayalice.org See if you can make it on ALICE’s wages: http://www.makingtoughchoices.org Philadelphia’s Fair work week legislation:http://www.phillytrib.com/news/fair-work-week-bill-continues-to-wind-through-city-council/article_6bdc82a1-fba5-5035-9a5d-49ea6baf4e6c.html National Center for Children in Poverty: http://www.nccp.org/publications/pub_892.html The Spread of GoFundMe: https://www.mprnews.org/story/2018/07/02/health-care-gofundme-crowdfunding-doctor-bills-minn) “Scarcity" by Sendhil Mullainathan: https://www.barnesandnoble.com/w/scarcity-sendhil-mullainathan/1114258421

Te acuerdas de los Beverly Ricos? Los Beverly Ricos fue una exitosa serie de televisión Norteamericana producida entre los años de 1962 a 1971, que contaba la historia de una familia de humildes montañeros quienes descubrieron accidentalmente petróleo en sus tierras y se mudaron como nuevos ricos a Beverly Hills, donde adquieren una lujosa mansión, pero sus costumbres siguen siendo las mismas, vistiendo la misma ropa, hablando de la misma manera, conservando los mismos hábitos y formas de pensar, que tenían cuando eran pobres, temática que hizo de esta serie una de las más cómicas y divertidas de los años 60. Te quiero contar que de niño esta serie me encantaba, pues era muy divertido ver a los Clampett relacionándose con la crema innata de la ciudad o ver a la abuela usando la piscina de la mansión para lavar la ropa y usar las finas esculturas que rodeaban la misma como tendedero. Recordar esta serie de grande me ha hecho reflexionar acerca de la mentalidad de pobreza, pues aunque esta familia se había vuelto rica de la noche a la mañana, vivían en un lugar exclusivo y el petróleo les había dado una fortuna de 1000 millones de dólares, seguían siendo pobres en sus mentes. Y ya hablando más en serio, Según el economista conductual Sendhil Mullainathan y el psicólogo cognitivo Eldar Shafir de las universidades de Harvard y Princeton, la pobreza es más que un tema financiero: es también un problema de mentalidad. Los estudios de estos expertos demuestran que cuando la pobreza captura nuestra mente, establece una forma de pensar y, por lo tanto, una forma de actuar, de la cual es difícil salir, pero no imposible. Esto significa que no todos los problemas de dinero se solucionan con dinero, sino con cambiar nuestra mentalidad. ¡Si quieres saber como cambiar la mentalidad de pobreza, acompáñame en este episodio! Si quieres saber más, ingresa a: www.consejofinanciero.com ***** Créditos The Beverly Hillbillies - pista doblada al español

Eldar Shafir is a behavioral economist/behavioral scientist at Princeton University. He co-wrote the book Scarcity with Sendhil Mullainathan. Hunter and Bryan draw out the depth of contrast between the reality of poverty and the assumptions of Homo Economicus as the keystone of human behavior. Go on mixedmentalarts.online, click the Amazon affiliate link! We also work with Audible, so if  you want to give the audio book a try, go to http://www.audibletrial.com/mma We also have a Patreon! If you have a buck, please share with us! We’ll try and send you some swag.

It's hard to change habits, but a gentle push can move us in the right direction. This episode, TED speakers offer deceptively simple "nudges" for managing our kids, our health, and our aspirations. Guests include behavioral economist Richard Thaler, psychiatrist Judson Brewer, psychologist Carol Dweck, Girls Who Code founder Reshma Saujani, and economist Sendhil Mullainathan. (Original broadcast date: June 24, 2016)

Although ostensibly about economics, this book is in fact about the effect of poverty of various kinds on the mind. Poverty is a shortage of resources. It could be money, time (busy people are "time-poor"), or some other resource. When people experience scarcity, their minds automatically, subconsciously devote mental resources to the issue. The results of this are two. 1. They are more rational in their approach to the use of the resource, and use it more prudently. For example, usually supermarkets will have more than one size of packs of things, with the idea that if you buy a six-pack, it is cheaper per can than buying six individual cans of drink. However, sometimes supermarkets will play a trick, making the larger pack more expensive per item than the individual item. Poor people get caught out by this kind of trick much less often, as they are paying attention to prices, and reasoning about what is the best use of their money. 2. More importantly, the automatic assignment of mental resources to deal with the scarcity reduces the remaining free mental resources. This means that they have lower self-control, and - rather shockingly - have lower effective intelligence (i.e. they behave as if they were less intelligent than they "really" are, since some of their mental energy is constantly being consigned to worrying about money). This has important consequences for thinking about the way the mind operates, as well as, on a social level, the effect of poverty on people's mental abilities. I hope you can see how, despite appearances, this book is in fact very relevant to education. Enjoy the episode. Music by podcastthemes.com.

I’ve been looking for a chance to do a podcast with today’s guest for months. Colin Walsh is the founder and CEO of Varo, an online tool that aims to make it easy and affordable for consumers to manage their financial lives. Colin and I first met at last year’s fintech conference hosted by the Federal Reserve Bank of San Francisco, and I’ve enjoyed, ever since, watching the rapid growth of his startup. Varo was still in development when we talked and is now in private beta, with plans to launch next year. I find them especially interesting in many ways, including that they raised $27 million this year; that the founders are very experienced banking executives; and that they are creating an ambitious product to meet multiple consumer needs at once. Maybe my favorite thing is that they are creating the Varo Bot, a chatbot that uses artificial intelligence to actually take the initiative to help customers manage daily money tasks easily and well. The move toward fintech solutions that are proactive instead of reactive is a real breakthrough, because it attacks one of the biggest obstacles to consumer financial health -- people not really understanding how best to manage their money, or just not thinking about that question before, rather than after, they spend or borrow. Varo is solving for that. Colin has two and a half decades of leadership experience with global brands in Europe and the US, including as an EVP at American Express, Managing Director at Lloyds Banking Group, and an EVP at Wells Fargo. In this episode Colin explains his motivation in undertaking a fintech startup after years at big companies. He talks about why Varo’s initial focus is simple, transparent mobile tools for millennials. He talks about the power of starting from a clean slate, with no legacy of what he calls “bad revenues,” and no challenges caused by having data “trapped in silos,” which is a major problem for banks. He also has thought-provoking advice for both banks and regulators. Here are some links: Varo is at www.varomoney.com He also refers to the book Scarcity: Why Having Too Little Means So Much, by Sendhil Mullainathan and Eldar Shafir on consumer decision-making behavior. I know you’ll enjoy hearing his insights. And more for our listeners: To help you keep up with innovators like Varo, I’ve been launching a series of social media channels that feature all my podcast guests as well as my blog posts and speeches. Sign up for my new monthly newsletter at jsbarefoot.com, head to my new facebook fan page, and please follow me on twitter.  I have some big news coming up – I’m co-founding a RegTech venture, so don’t miss hearing about it! Also, please send in your “buck a show” to support Barefoot Innovation. We now have thousands of listeners around the world, and we need support to keep the show coming and keep it timely, with my little band of part-time helpers. Support our Podcast Meanwhile, be sure to come back next time, when my guest will be the CEO of Ripple, Chris Larsen. Subscribe Sign up with your email address to receive news and updates. Email Address Sign Up We respect your privacy. Thank you!

Many of us get stuck in life, because for some reason or the other we’re resistant to change. Being resistant to change is like being resistant to gravity, we might be able to counter some the effects of it, but it’s always going to be there. There are some amazing gifts that come from embracing change, and Jenny Blake joins me to jam about the ways to embrace change rather than to resist it. Ready? Let’s do this!   Key Takeaways: [0:51] Thank you to our sponsor, SaneBox.com [1:51] Charlie tells us a bit about Jenny and her body of work. [3:54] What excites Jenny the most about living in New York? [5:16] How did Jenny get started with ‘Life After College’ before leading Google? [6:41] How did she handle her crisis of confidence when she decided to leave Google? [7:54] How did Jenny find her spark after struggling with her confidence & the path she was on? [12:45] Jenny’s ‘aha’ moment with PIVOT & digging herself out of the ‘dark existential hole’. [15:03] How do you get in that creative spark zone without crisis or hitting rock bottom? [18:19] Meditation practice is a big business accelerator for Jenny! [21:29] What was most surprising when writing her book, PIVOT? [24:54] We never know what the future holds, but we do have certain ‘constants’! [29:53] The new security for Jenny: having a diversified portfolio of our day & our income. [31:46] What do you do when you’re in an ‘okay’ or a ‘great’ job by others’ standards, but that it’s not the ‘IT’ job for you? [34:53] What kind of life do you want to live? Are you aligning your day-to-day with your values? [39:21] What are the pieces of your priorities’ pie & how are you going to portion & slice it up? [42:14] Jenny suggests finding ‘constants’ in your life to help you make better decisions. [46:37] Within a decision itself you can have known and unknown variables. Turn the scary unknowns into ‘how can I’ questions? [49:21] What is the most unanticipated challenge Jenny is facing right now & what is a known ‘unknown’ for her? [55:41] What does Jenny want people to remember about her or her body of work?   Mentioned in This Episode: SaneBox JennyBlake.me @jenny_blake Life After College PIVOT by Jenny Blake Sacret Contracts by Caroline Myss Antifragile by Nassim Nicholas Taleb Scarcity by Sendhil Mullainathan and Eldar Shafir

I am absolutely delighted to share today's episode -- my conversation with Michael Barr. Most of our listeners know Michael as the former Assistant Treasury Secretary for Financial Institutions who shepherded the Obama administration's efforts on the Dodd-Frank financial reform law. Fewer people may know of his role in developing the proposal for, and negotiating the enactment of, the Consumer Financial Protection Bureau, which is when I got to know him.  He is now back at the University of Michigan (my own alma mater) as a law professor, and continues to be very active across a wide spectrum of consumer finance and financial regulation activities, and also on lending to small businesses. Michael has thought hard about the toughest challenges in consumer finance, drawing on both his government experience and his academic activities (among other things, he's a Rhodes Scholar). He also works extensively with innovators and nonprofits. In our conversation he offers insights on some of the most critical topics facing consumer finance. Perhaps the most central principle driving his ideas is behavioral economics - coming to grips with the reality that consumers are not perfectly rational, and don't have perfect information, in making financial decisions. "We ought to design both products and policy around the way human beings actually make decisions and behave," Michael tells me. See below for links to his research on this, including his paper "Behaviorally-Informed Regulation." One result of his behavioral focus is a refreshing readiness to rethink consumer financial education. At one point he says, "just as we couldn't explain how our smartphones operate," financial consumers don't necessarily need to know how financial products are designed, in order to use them effectively. He thinks, as I do, that today's technology can create simple new tools that nearly anyone can use, whether they have a sophisticated financial education, or not. Another issue he raises is his involvement in developing the "small business borrowers' bill of rights" (see our earlier podcast discussing this with Brian Graham of BancAlliance). There is growing concern that online small business lending is creating borrower risks as well as opportunities, especially as America shifts toward the so-called 1099 economy and more people run small businesses in ways that closely parallel consumer finance. Michael also explores the challenge of crafting regulation that enables innovation while still blocking harm. He says regulators sometimes allow harmful practices to emerge and grow until they hit a "tipping point," at which point they drive industry standards so low that good companies can't survive without adopting activities they would rather avoid.  I agree with him that this is a key challenge, especially as innovation accelerates.  If regulators intervene too early and aggressively, we'll have the government designing our financial products, instead of the market doing so.  On the other hand, if they are too passive or too late in addressing really harmful practices - especially if they wait until after that tipping point has actually tipped - they will fail to protect large numbers of people from harm, and they may also find it difficult to act.  Once products are widespread, there are strong political forces ready to defend them, as well as practical problems with potential regulatory impacts on businesses and sometimes even the financial system itself. I asked Michael for his advice about these kinds of challenges, for all the players in this ecosystem. I think you'll find his answers really interesting, including some thoughts he shares about the logic behind the design of the CFPB. I also asked him whether we might be moving toward a fundamentally new market model, in which technology-driven transparency will require financial companies to compete mostly on winning and keeping people's trust. His answer to that is thought-provoking, too. Michael was Assistant Secretary of the Treasury for Financial Institutions from 2009-2010. He previously served as Treasury Secretary Robert Rubin's Special Assistant, as Deputy Assistant Secretary of the Treasury for Community Development Policy, as Special Advisor to President Bill Clinton, as Special Advisor and Counselor on the Policy Planning Staff at the State Department, and as a law clerk to U.S. Supreme Court Justice David H. Souter.  He received his J.D. from Yale Law School, an M. Phil in International Relations from Magdalen College, Oxford University as a Rhodes Scholar, and his B.A., summa cum laude, with Honors in History, from Yale University. His activities today include serving on the boards of Lending Club (in Episode 5 we interviewed CEO Renaud LaPlanche) and Ripple, as well as ideas42, a behavioral economics research and development lab. He's on the FDIC Advisory Committee on Economic Inclusion and the Washington Center for Equitable Growth. He's on the advisory board of CFSI and has advised its U.S. Financial Diaries Project (see our interview with Jennifer Tescher of CFSI for more). He is also a fellow at the Filene Research Institute. In his current role as Roy F. and Jean Humphrey Proffitt Professor of Law at the University of Michigan Law School, Michael teaches courses in domestic and international financial regulation. He's also been instrumental in forming the University of Michigan's Center on Finance, Law and Policy, which integrates finance, law, business, and computer science to work on difficult problems facing the world, including how to make the financial system fairer and safer. I highly encourage you to peruse his faculty website to find more resources. Below you can find links to works referenced in the episode: Small Business Borrowers' Bill of Rights Michael's latest book "No Slack: The Financial Lives of Low-Income Americans" Hamilton Project paper on increasing access to capital for minority and women entrepreneurs Michael's paper on Behaviorally Informed Regulation co-authored with Sendhil Mullainathan, Harvard University and Eldar Shafir, Princeton University And here is the site of the FDIC's Advisory Committee on Economic Inclusion                  Enjoy my conversation with Michael Barr! If you enjoy our work to bring together thought provoking ideas and people please consider a contribution to support the site. Donate Please subscribe to the podcast by opening your favorite podcast app and searching for "Jo Ann Barefoot", or in iTunes.    

SENDHIL MULLAINATHAN (https://www.edge.org/memberbio/sendhil_mullainathan) is Professor of Economics, Harvard; Assistant Director for Research, The Consumer Financial Protection Bureau (CFPB), U.S. Treasury Department (2011-2013); Coauthor, Scarcity: Why Having Too Little Means So Much. The Conversation: https://www.edge.org/panel/sendhil-mullainathan-what-big-data-means-for-social-science-headcon-13-part-i

Aired 04/24/11 ESTHER DUFLO, a Professor of Economics at MIT, has received numerous honors including a John Bates Clark Medal for the best American economist under 40 in 2010, a MacArthur "genius" Fellowship in 2009. She was recognized as one of the best eight young economists by the Economist Magazine, one of the 100 most influential thinkers by Foreign Policy, and one of the "forty under forty" most influential business leaders under forty by Fortune magazine in 2010. Together with Abhijit Banerjee and Sendhil Mullainathan of Harvard University, she founded the Abdul Latif Jameel Poverty Action Lab in 2003, and authored with Banerjee, the new book, POOR ECONOMICS: A Radical Rethinking of the Way to Fight Global Poverty http://pooreconomics.com/about-book/excerpt