Choiceology with Katy Milkman

What makes an effective team? Talent? Skill? Discipline?

In this episode of Choiceology with Katy Milkman, we're looking at some of the more surprising ingredients of successful teams, according to science. Teams where the whole is greater than the sum of its parts.

You'll hear the story of the Kon-Tiki expedition—a harrowing journey across the Pacific Ocean led by Norwegian explorer Thor Heyerdahl. A journey made by a small band of ...

We've all been there. Maybe you fumbled a line in a presentation. Or tripped on a shoelace. Or suffered a bad hair day. It can feel like the whole world is watching you—and judging you—in those embarrassing moments. But are people paying as much attention to you as you think?

In this episode of Choiceology with Katy Milkman, we explore why we tend to blow our own missteps out of proportion.

We go behind the scenes of some of the most...

You've probably been in situations where multiple friends recommend the same product. It must be great, if everyone is talking about it, right? But then you find out that those friends had all just seen the same product on a popular TV show. What seemed like independent recommendations really came from a single source.

In this episode of Choiceology with Katy Milkman, we consider the consequences of missing out on the true source of...

It's a new season of Choiceology, an original podcast from Charles Schwab. New episodes arrive every two weeks, so please follow us in your favorite podcasting app.

Important Disclosures

The comments, views, and opinions expressed in the podcast 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 source. H...

Were you the kind of kid who devoured all your Halloween candy in one sitting—or savored it daily until, somehow, it was Easter? And when it comes to bad news, do you prefer it all at once or with some time in between? Turns out, the way we bundle or separate life's highs and lows can influence our happiness. 

In this episode of Choiceology with Katy Milkman, we consider a mental accounting trick that can help maximize joy and minim...

Would you pay more for a car with 29,999 miles than one with 30,000? The answer should be no—it's a negligible difference, after all—but research shows that people often do pay more than they should for cars that are just short of certain odometer thresholds.

In this episode of Choiceology with Katy Milkman, we look at why a price or an age or a test score that falls just under a round number has an outsized impact on our decisions....

Streaks have long been logged in the world of sports. And for tracking habits, like daily writing. But now apps encourage us to keep streaks going for just about anything. Messaging friends, learning new languages, meditating, exercising, you name it. 

In this episode of Choiceology with Katy Milkman, we explore the motivational power of streaks. And we look at ways to alleviate the demotivating effects of breaking a streak. 

We spea...

First-born children tend to believe that their parents were harder on them than their siblings are willing to grant. Football fans take disproportionate note of the challenging games on their team's schedules. We're wired to interpret our challenges as bigger than our advantages, even if the reality is more balanced.

In this episode of Choiceology with Katy Milkman, we consider our tendency to focus more attention on our negative or...

Is it ever possible to see the world objectively, as it is? Turn on the news, open social media, engage with that family member at Thanksgiving, and it appears to some the answer is yes. But what if our biggest blind spot is thinking we don't have a blind spot? 

In this episode of Choiceology with Katy Milkman, we look at how we can easily be fooled into believing that our subjective experience of the world is objective, and believi...

Workplaces often rely on numerical ratings for performance reviews. Election debates focus on poll numbers and approval ratings. Your watch counts your steps in a day. Numbers increasingly influence our decisions.

In this episode of Choiceology with Katy Milkman, we look at our very human tendency to fixate on digits even when words or graphs represent the very same information. 

Stephen M. Colbert writes about movies and the film in...

It’s a new season of Choiceology, an original podcast from Charles Schwab. New episodes arrive every two weeks, so please follow us in your favorite podcasting app.

Important Disclosures

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 sou...

Luke Skywalker, Frodo Baggins, Katniss Everdeen, the main characters of many great stories, they all have one thing in common: the shape of their journey. From answering the call to adventure, to undergoing tests of character and strengths, to triumphantly returning home forever changed. It's a classic narrative structure that's inspired countless tales from ancient myths to modern media. But it's not just great for entertainment. 

...

Most parents encounter resistance from their children. Perhaps when the kids are young and turning their noses up at vegetables, or when they're teenagers and balking at curfews or dress codes.

So what's the best way to encourage good choices in the face of a rebellious kid? Or a rebellious adult, for that matter?

In this episode of Choiceology with Katy Milkman, we look at the surprising ways that resistance to authority can be leve...

Do you recall the best concert you ever went to? Best trip? Best meal? Chances are good that a few memories come to mind—maybe not every detail of the event, but perhaps a couple great moments. It can go the opposite way, too. Worst travel experience. Worst date. Our memory works in snapshots of particular parts of our experience.

In this episode of Choiceology with Katy Milkman, we look at a predictable distortion in the way people...

Your car breaks down. Must be because you skipped an oil change last month. Or your favorite team loses. Well, that was because of a bad call by a corrupt referee. In reality, many events involve multiple contributing factors. But we tend to gravitate toward single causes. 

In this episode of Choiceology with Katy Milkman, we look at our desire to explain things simply, even when the truth may be more complex.

Where unidentified flyi...

In this episode of Choiceology with Katy Milkman, we look at the often-misunderstood and surprisingly common Dunning-Kruger effect with an interview featuring one of the researchers who first identified it, David Dunning.

But we start with the story of Cecilia Jimenez, the humble Spanish grandmother and amateur landscape painter who took it upon herself to restore a fresco in her local church. The results made international headline...

Pursuing a goal alone is convenient. Whether you're training for a marathon or aiming to read 20 books this year, it's convenient to move at your own pace and schedule. But having a gym buddy or a book club pal can make a bigger difference to your goal completion than you think. 

In this episode of Choiceology with Katy Milkman, we look at the benefits of tandem goal pursuit in the context of training for a new Olympic sport: kite f...

When you're facing loss—say, in a board game or during a sporting event or with a declining stock—it can be difficult to remember your true tolerance for risk. You're likely to seek risk more than you normally would.

In this episode of Choiceology with Katy Milkman, we look at a tendency to seek risk in the face of losses when those losses aren't yet finalized, but how chalking up those losses and moving on can actually help you rec...

Over the years, Choiceology has offered a lot of advice for making better decisions. In this special episode of Choiceology with Katy Milkman, we bring you the story of a video game that is surprisingly effective at reducing decision errors, and you'll hear about a practical checklist for improving choices in many different contexts.

Solving fictitious mysteries might sound like fun and games, but the video game MISSING: The Pursuit...