This week on Behavioral Grooves, things get personal – or at least professionally personal – as Kurt and Tim are joined by Becky Frayer, founder and CEO of Behavioral Fusion. Becky shares valuable tips and strategies for overcoming challenges in large organizations and explores the practical applications of behavioral science in the business world.

Throughout their discussion, Kurt, Tim, and Becky emphasize the importance of applying behavioral science practices in the workplace. They explain how storytelling and reassurance can be powerful tools for navigating corporate environments. Through personal anecdotes and real-world examples, the trio reveals how to overcome common work obstacles and integrate healthy behavioral science practices into your company’s everyday routine.

Whether you're a skeptic or an embracer of behavioral science, this episode offers valuable insights and practical advice on using behavioral science principles to drive business growth and improve decision-making. Tune in to hear about the fascinating journey of applying behavioral science in corporate America and gain new perspectives on consumer behavior and organizational dynamics.

© 2024 Behavioral Grooves

[2:42] Intro and speed round

[6:42] Consumer behavior and decision-making in the pharmaceutical industry

[13:30] Using behavioral science to understand consumer behavior

[17:56] Applying behavioral science in business

[27:51] Challenges and insights: applying behavioral science at work

[33:22] The importance of understanding human behavior

[37:54] Desert island music

[40:59] Grooving Session: Using behavioral science insights to drive business success

© 2024 Behavioral Grooves

Dunning-Kruger Effect

Behavioral Fusion

Building Behavioral Science Capabilities in Your Company

Michael Jackson, “Thriller”

Sister Hazel, “Change Your Mind”

How often do you question the 'facts' you encounter in everyday life?

This week, Alex Edmans, author of May Contain Lies, joins Kurt and Tim to question the world around us. They explore the significance of critical thinking and cognitive diversity, highlighting the value of diverse perspectives and evidence-based reasoning. They discuss the differences between facts and statements, the dangers of misleading inferences from evidence, and the impact of perception on communication.

Creating an environment where individuals can express their viewpoints freely is crucial. This includes fostering a culture where a devil’s advocate can provide critical feedback and considering alternative explanations to avoid confirmation bias in our everyday lives.

For a bit of fun (and for Tim too!), Alex explains his research on how music preferences can predict stock market trends and the challenge of separating emotional effects from fundamental factors. During their Grooving Session, Kurt and Tim encourage listeners to apply a scientific mindset when evaluating information and to promote cognitive diversity within their workspaces. Tune in to enhance your critical thinking skills, appreciate the nuances in decision-making, and learn how to foster a culture of scientific inquiry in your workplace and beyond.

© 2024 Behavioral Grooves

[5:07] Intro and speed round

[9:30] The importance of critical thinking and avoiding confirmation bias

[16:37] Misinformation and how it’s presented

[27:56] How to evaluate scientific claims by checking sources

[33:08] The importance of cognitive diversity

[42:07] Using music to predict stock market trends

[49:26] Grooving Session: Overcoming biases to make informed decisions

© 2024 Behavioral Grooves

Links

Alex Edmans ‘May Contain Lies: How Stories, Statistics, and Studies Exploit Our Biases - And What We Can Do About It’

Wason Selection Task

Sports Sentiment and Stock Returns

How Cognitive Biases Influence the Way You Think and Act

Earth, Wind, and Fire “September”

Fleetwood Mac “The Chain”

How do we make sense in a world that often seems nonsensical? In this week’s episode, Kurt and Tim team up with Saul Perlmutter and Rob MacCoun, co-authors of Third Millennium Thinking, to try and answer these unanswerable questions for listeners. Together, they bring the scientific method from theory to practice as they explore key aspects of scientific inquiry, probabilistic thinking, and the significance of embracing uncertainty in problem-solving.

Saul and Rob help bring scientific practice into reality and cover various topics from the role of experimentation in identifying cause-and-effect relationships, the importance of assigning probabilities in decision-making, and the virtues of persistence and optimism in tackling challenges.

In today’s increasingly polarized climate, it’s important to understand the value of seeking diverse perspectives to avoid mental traps and the power of collective cognition in decision-making. From probabilistic thinking to scientific optimism this conversation showcases how applying the scientific method can enhance not only our individual way of thinking but our interactions with the world.

© 2024 Behavioral Grooves

[4:08] Intro and speed round

[7:48] Scientific method and experimentation in various fields

[16:54] Using probability to make informed decisions

[21:34] Dangers of polarization and the importance of making quick estimates

[28:08] Using mathematical estimates to solve problems

[32:55] Scientific optimism in the face of challenges

[43:05] Collective cognition and the importance of acknowledging uncertainty

[50:35] Grooving Session: Using the scientific method to improve thinking

© 2024 Behavioral Grooves

Third Millennium Thinking: Creating Sense in a World of Nonsense

Nobel Prize - Saul Perlmutter

Rob MacCoun

Steven Pinker

The Law of Group Polarization

Musical Links

Jazz Classics

John Williams, Star Wars