Core Insights podcast host Trevor Barnes is joined by award-winning author Nick Chater, Professor of Behavioural Science at Warwick Business School, and Ed Gardiner, Director at Innovation firm Cogco, which uses behavioural science, data science and design to build new products and services.
The pair reveal how research from behavioural science can be applied to many different businesses, from marketing agencies to finance companies. Gardiner and Professor Chater delve into how 'nudges' and robust findings about human behaviour can be used to improve an organisation's performance, from operational efficiency to boosting sales.
Professor Chater is author of The Mind is Flat - The illusion of mental depth and the improvised mind and The  Language Game - How improvisation created language and changed the world.
Read more about his research:

Is bias causing business leaders to make mistakes?

Feel the noise: why people are so unpredictable

Why do systems create problems then nudge us to fix them?

Read more about behavioural science and Decision-Making and Analytics.

And listen to our podcast series on Behavioural Science on all major podcast platforms, including Apple and Spotify. Start with the first episode from Professor Chater on Why searching for your true 'self' is pointless.

Are there really reasons to be cheerful? Maybe or maybe not but smile, it's infectious! Are liberalism and conservatism different sides of the same coin? Does nudge theory work and how can our animals cross the road without being hit by a car?

When Social Purpose Organizations get down to do their work, they sometimes find themselves having to beg people to change. Suman Srivastava, author of 'Don't Beg. Inspire.' begs to differ!

Join your Simblified hosts in their conversation with Suman about the book, the principles of nudge theory, and lots of fun and wisdom.

Links: Dan Pallota's Ted talk:

https://www.ted.com/talks/dan_pallotta_the_way_we_think_about_charity_is_dead_wrong?language=en

"Don't Beg. Inspire." - The book https://linktr.ee/DB.Inspire

Follow Suman Srivastava on Twitter & Instagram:

https://twitter.com/suman7

https://www.instagram.com/suman_srivastava

Add one part news, one part bad jokes, one part Wikipedia research, one part cult references from spending too much time on the internet, one part Wodehouse quotes, and one part quality puns, and you get Simblified.

A weekly podcast to help you appear smarter, to an audience that knows no less! Your four hosts - Chuck, Naren, Srikeit and Tony attempt to deconstruct topics with humour (conditions apply). Fans of the show have described it as "fun conversations with relatable folks", "irreverent humour", "the funniest thing to come out of Malad West" and "if I give you a good review will you please let me go".

Started in 2016 as a creative outlet, Simblified now has over 200 episodes, including some live ones, and some with guests who are much smarter than the hosts. Welcome to the world of Simblified!

You can contact the hosts on:

Chuck: twitter.com/chuck_gopal / instagram.com/chuckofalltrades

Naren: twitter.com/shenoyn / instagram.com/shenoynv

Tony: twitter.com/notytony / instagram.com/notytony

Srikeit: twitter.com/srikeit / instagram.com/srikeit

See omnystudio.com/listener for privacy information.

We like to think of ourselves as rational people–our decisions are based on logic and facts. But the truth is that we’re all guided by biases that influence the way we think and act.

Being aware of these biases can be extremely powerful in the hands of a marketer. After all, the very practice of marketing is to influence people’s behaviours–whether that’s encouraging someone to buy a product or simply to open an email.

In this episode, Phill Agnew, host of marketing science podcast, Nudge, explains the seven consumer psychology principles that will make your marketing more effective.

You’ll learn:

• How a simple tactic made people 82% more likely to complete a loyalty card
• How Steve Jobs used anchoring to send the crowd into a frenzy at the iPad launch event
• How KFC sold more fries by limiting the number that customers could buy
• How negative social proof caused more people to fossilized ancient wood at a national park
• How a 73-year-old marketing campaign changed the way we buy engagement rings, forever!

This episode is packed with plenty of practical examples that prove the power of consumer psychology. In fact, we’d be very surprised if you don’t come away with at least one new tactic that you’ll want to implement right away.

Resources:

• Listen and subscribe to Nudge
• Enroll in the Science of Marketing course
• Grab a copy of Robert Cialdini’s Influence

Host Audrey Dias talks with Neil Stewart, Professor of Behavioural Science and Rafael Batista, former Head of Behavioural Research at Commonwealth Bank, about how the finance industry is using nudges to help customers with their money. Professor Stewart has done pioneering work on credit cards and is forcing the industry to think again about how it persuades customers to pay off their debt. While Rafael used behavioural science nudges to help Commonwealth Bank build a better relationship with their customers. Read more on the subject with these articles from Professor Stewart on Is your credit card statement nudging you into more debt? and  Why using direct debits may add to your credit card bill. And you can find out more about Rafael's journey with behavioural science in this feature Change Maker: Rafael Batista nudging for good in banking.

The time to act is now. Most of us accept that we need urgent action on the climate crisis. How do we bridge the gap between intent and ACTION? Technology offers an enormous solution to this challenge.  Rich Strachan heads 3 Sided Cube, an app development agency focused on ‘tech for good'. Rich and his team deliver mobile apps that boost resilience and nudge people and businesses towards sustainable behaviour. 

They recently launched the Ignite program, a purpose-built movement to drive behavioural change and make a difference to the ever-growing waste crisis, support sustainable, low carbon living and enhance environmental protection. 

On this episode we discus the pivotal role of technology in creating positive change for sustainable development. 

Connect with Rich HERE. 

Join The Climate Conscious Community:

Website | Instagram | Twitter | Facebook

Email: theclimateconscious@gmail.com

In the final episode of our first Behavioural Science series, Core Insights host Trevor Barnes talks to Ivo Vlaev, Professor of Behavioural Science, about his work in the health sector. Professor Vlaev has put together a series of randomised controlled trials testing various nudges on patients. The nudges have helped people adopt healthier diets, cut down on drinking alcohol, lowered the number of patients missing hospital appointments and much more. Professor Vlaev explains how the nudges work and how they could save the NHS valuable time and resources, often by simply changing the wording of a letter or text. Read more about it here.

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Self-driving cars have been promised as the future for the last decade with various manufacturers experimenting with their own designs alongside tech giants Google, Uber and Apple. Nick Chater, Professor of Behavioural Science, has been trying to model the trickiest task for autonomous vehicles of navigating the cluttered and narrow roads of the UK's towns and cities. But he admits to Core Insights host Trevor Barnes that it is an impossible task and he now believes self-driving vehicles will need their own roads rather than mixing with human controlled cars. Read more on the problems for autonomous vehicles here.

Trevor Barnes, host of Core Insights, interviews Neil Stewart, Professor of Behavioural Science, about a nudge - or sludge - that he discovered on his credit card statement. Anchoring is a well-established nudge with plenty of research confirming its existence. Here, Professor Stewart explains how it is affecting our credit card bill thanks to the minimum payment. For more on this, read Professor Stewart's article here.

Core Insights host Trevor Barnes talks to Daniel Read, Professor of Behavioural Science, about his research into intertemporal choices, which looks at why, even though we are on a diet, we choose to eat a cream bun now, rather than wait for our lunchtime salad. Or why in repeated experiments people would prefer £10 now rather than £15 in two weeks. These are intertemporal trade-offs and despite economics teaching us we should weigh up the options, calculating the benefits between the two points in time and choosing the most beneficial, we don’t always do this in a way that is best for us, or for society. You can see it playing out at every climate change conference, where hard choices to curb emissions are put off for another day. Professor Read also reveals research on a way to make us more patient and take the better, but further away, option - by simply adding a zero. Read more on this here.

In this episode, Aaron and Trishul explore behavioral economics. They discuss a few biases and heuristics that attempt to explain why humans and societies don't operate with their best interests in mind. They provide specific examples of how individuals or organizations can take advantage of or exploit the brain's preference to be lazy. So once you understand how your mind works, how can you take control to nudge yourself in the right direction? Listen to the end to find out.

Episode References

Nudge by Thaler and Sunstein
Thinking, Fast and Slow by Kahneman
4 Tips for Using Nudge Theory in Your Learning
The Opt-Out Solution
The Impact of Legislation on Organ Donation
Streamlining and Nudging In Voter Registration
Can One Desire Too Much of a Good Thing?
Investing Forever - The World Is Full of Bad Drivers
Investing Forever - Recency Bias
Investing Forever - Primacy Bias
Investing Forever - Serial-Position Effect
Investing Forever - Amos Tversky and Daniel Kahneman
Investing Forever - Why Investment Mistakes Persist
Why Investment Mistakes Persist
Stanford Marshmallow Experiment
Coursera - Gamification

Podcast Description

Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.

Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Bay Area Financial Planner with GraystoneAdvisor.com, and Trishul is an East Coast Wealth Manager (InvestingForever.com). MindMoneySpectrum.com and YouTube.