The world of applied behavioral science has never been better. So how do you get your foot in the door to have a career in the field? You may be surprised to learn that it doesn’t have to involve getting a PhD. Merle van den Akker discusses her career journey from academia into the corporate world, and what we can learn from it.
Merle van den Akker grew up in the Netherlands and studied in the UK before moving to Australia to start her current job at the Commonwealth Bank. Though she got a lot out of her PhD studies, she realized the academic system was not a good long-term fit for her. While in her PhD, Merle started the blog "Money on the Mind" which has allowed her the opportunity to interview nearly 200 leaders in the field of behavioral science and finance.
Having seen the world of behavioral science through the academic lens and now through the corporate lens, Kurt and Tim chat with Merle about how important a PhD is in the field (hint, it’s not!) But Merle gives her advice for all rising behavioral scientists and the many ways to incorporate behavioral insights into all fields of work. For those with behavioral science skills and knowledge, application can be used across many functional areas of an organization from marketing to HR to product development.
We also delve into Merle’s current work in finance. Financial solutions have a reputation of not being very human-centric and are difficult for people to navigate. Applying behavioral science and human-centered design can help transform these systems from within and take account of the cultural factors that influence our finances.
Please consider our work at Behavioral Grooves Podcast but donating a small amount on our Patreon site. We appreciate your help.
Topics
(3:49) Welcome and speed round questions.
(5:06) Do you need a PhD to work in Behavioral Science?
(9:10) The real reason Merle pursued a PhD.
(16:07) The taboo around talking about money.
(19:24) Always leave your credit card at home.
(24:13) The journey from academia into industry work.
(28:26) Advice for people who are in PhD programs.
(31:41) Money on the Mind.
(40:54) What music does Merle listen to?
(45:17) Grooving Session with Kurt and Tim on applied behavioral science.
© 2023 Behavioral Grooves
Links
CBA Bank: https://www.commbank.com.au/
Money on the Mind: https://www.moneyonthemind.org/about
Merle Van Den Akker’s book, “The Ultimate Guide To Doing a PhD”: https://amzn.to/3NZa1f2
Annamaria Lusardi: https://www.annamarialusardi.com/
Elif Incekara-Hafalir and George Lowenstein (2009), “The Impact of Credit Cards on Spending: A Field Experiment”: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1378502
Keith Wilcox, Lauren G. Block and Eric M. Eisenstein (2011) “Leave Home Without It? The Effects of Credit Card Debt and Available Credit on Spending”: https://www0.gsb.columbia.edu/mygsb/faculty/research/pubfiles/5688/wilcox_leave_home.pdf
Matthew D. Hilchey, Matthew Osborne and Dilip Soman (2021) “Does the visual salience of credit card features affect choice?”: https://www.cambridge.org/core/journals/behavioural-public-policy/article/abs/does-the-visual-salience-of-credit-card-features-affect-choice/BBD44889AEE0C6070F994FECFFCAB71F
Behavioral Grooves Patreon: https://www.patreon.com/behavioralgrooves
Musical Links
Flume “Go”: https://www.youtube.com/watch?v=Wypxk5H8kmE
The Power of Unity: Robert Cialdini Expands His Best Selling Book Influence [Republish]
Groove Track | 12 Words That Improve Company Performance
Delusions Can Actually Be Useful: Hidden Brain’s Shankar Vedantam Reveals How [Republish]
How To Find Meaning IN Life | Dr Brian Lowery PhD
How Do Incentives Actually Impact Motivation? | Dr Indranil Goswami PhD
Groove Track: Cab Driver Study
Can You Really Love Things As Much As People? With Aaron Ahuvia
The Loss of Common Sense: How To Gain A Little Perspective | Martin Lindstrom
Trust Your Gut? Only If The Data Supports It | Seth Stephens-Davidowitz
Changing Our Mind: Exploring How Mental Illness Is Managed with Daniel Bergner
Finding Out What Your Customers Want and Why It Matters | Andrea Belk Olson
From Distracted To Focused: Nir Eyal’s Secrets On How To Be Indistractable
You Have Dignity Because You’re Human, Not Because You Work | Jonathan Malesic
How To Fix Burnout (Hint: It Isn’t Another Yoga Session) | Jennifer Moss
You Can Change Someone’s Mind But Are You Sure You Want To? | David McRaney
Changing The World with Persistent Optimism | Dr. Paul Zeitz
Want To Improve Your Kid’s Behavior? Start With Your Own | Sue Donnellan
Three Easy Ways to Nurture A Child’s Brain Development | Dana Suskind MD
Fail to Scale: Why Good Research Doesn’t Always Make Great Policy | John A. List
For Revolutionary Solutions, Look To Evolutionary Ideas | Sam Tatam
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