Humans have limited information processing abilities and cannot possibly evaluate all possible options when making a decision. However, describing people merely as irrational paints an inaccurate picture. There can be benefits to the biases we hold.
Author of Optimally Irrational: The Good Reasons We Behave the Way We Do Lionel Page PhD, joins Kurt Nelson and Tim Houlihan on Behavioral Grooves Podcast to talk about his book. Lionel is a French-born economist who is currently working as the Director of the Behavioural and Economic Science Cluster at the University of Queensland in Australia.
Among the topics Lionel discusses is the hedonic treadmill and how happiness is always just ahead of us. Our subjective satisfaction system is designed to keep us motivated by focusing on future goals. However, once we achieve those goals, we move on to the next.
Anticipated utility and loss aversion become a powerful motivational combination. Our motivations for decisions are complex. But intentionality can help make up for some of the inconsistencies in our decision making.
Topics(1:51) Speed round questions.
(3:13) Is overconfidence beneficial or not beneficial?
(6:06) What is rational and irrational behavior?
(11:34) Why it is so important to define a field of work.
(14:09) Why is it so difficult for us to ask for what we want?
(17:31) Completeness helps us to find missing points.
(22:38) Happiness is actually connected to loss aversion.
(32:37) The benefits of anticipated utility.
© 2023 Behavioral Grooves
Links
Lionel Page PhD: https://economics.uq.edu.au/profile/9755/lionel-page
Lionel’s book, “Optimally Irrational: The Good Reasons We Behave the Way We Do”: https://amzn.to/46RoYIH
Episode 333, How Game Theory Can Be Used To Explain Human Behavior | Erez Yoeli: https://behavioralgrooves.com/episode/game-theory-to-explain-behavior/
Episode 171, Self Control, Belonging, and Why Your Most Dedicated Employees Are the Ones To Watch Out For with Roy Baumeister: https://behavioralgrooves.com/episode/self-control-belonging-and-why-your-most-dedicated-employees-are-the-ones-to-watch-out-for-with-roy-baumeister/
Prospect theory: https://en.wikipedia.org/wiki/Prospect_theory
Episode 276, How To Stay Motivated So You Exceed Your Goals | Ayelet Fishbach PhD: https://behavioralgrooves.com/episode/motivation-to-exceed-your-goals/
Behavioral Grooves Patreon: https://www.patreon.com/behavioralgrooves
Women Do Too Much Non-Promotable Work: How To Say No More with Linda Babcock
How The Invisible Influence of Culture Shapes Our Behavior | Michele Gelfand
The Psychological Benefits of Using a Process to Achieve an Outcome | Joseph Keebler PhD & Peter Krask
Transport Your Thinking; Why We Need To Reframe Travel | Rory Sutherland & Pete Dyson
Why Not All Nudges Work ”In The Wild” | Nina Mazar & Dilip Soman
The Steps Needed To Empower the Powerless | Julie Battilana PhD
Why Talking To Strangers Is Actually Good For Your Wellbeing | Nick Epley
If You’re Wrong It’s Meaningless, But If I’m Wrong It’s Valuable | Peter Montoya
The Three Phases of Growth and Learning | Whitney Johnson
Mindset Matters Most: Top Tips from The Sales Evangelist, Donald C. Kelly
Is The A-nus Really The Key To All Intelligent Life? | Henry Gee
Why Applying Behavioral Science to Public Policy Delivers Better Policy | David Yokum PhD
Why Leaders Need To Care For People, Not Manage Them | Sesil Pir
Do We Judge Others By The Way They Speak? | Katherine Kinzler PhD
We Are Greater Together; The Power Of Belonging | Dominic Packer PhD
How Can Smart, Kind People Harness Their Influence? | Zoe Chance
No Regrets? Really? Why Regrets Actually Bring Us Hope | Daniel H. Pink
How To Stay Motivated So You Exceed Your Goals | Ayelet Fishbach PhD
A Long, Happy Life? The Impacts of Increasing Our Longevity | Bradley Schurman
Why Finding Pleasure in Life is a Painful Journey | Paul Bloom
Create your
podcast in
minutes
It is Free
The Poetry of Science
Hidden Brain
The Science of Happiness
Choiceology with Katy Milkman
Mysterious Radio: Paranormal, UFO & Lore Interviews