A Successful Failure: With Guests Cass Sunstein, Kirabo Jackson & Andrew Chaikin

Choiceology with Katy Milkman

Charles Schwab

Investing, Social Sciences, Behavioral Economics, Science, Society & Culture, Decision Making, Charles Schwab, Dan Heath, Business, Katy Milkman

4.7 • 1.5K Ratings

🗓️ 14 September 2020

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You’ve probably had the annoying experience of going to a store to pick up a few things, only to leave having forgotten at least one of them. That’s likely due to the challenge of holding more than one piece of information in your working memory while you shop, not to mention the effects of time pressure, distraction, and the procedural complexity of a seemingly simple trip to a store. In this episode of Choiceology with Katy Milkman, we look at effective tools for managing complex and time-sensitive procedures, from grocery shopping to space exploration.

Transcript

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0:00.0	1935, right airfield in Dayton, Ohio. It was late October.
0:15.0	Boeing was demonstrating the prowess of their next generation long-range bomber to the U.S. Army Air Corps.
0:22.0	Their model 299, Flying Fortress, was a massive plane
0:27.0	with four powerful engines and a giant 100 foot plus wingspan.
0:31.0	The plane lifted off with a thunderous sound, climbed to several
0:37.4	hundred feet and then all of a sudden it stalled, dipped to one side and fell back to earth in a fiery explosion.
0:49.0	Two of the five crew members died in the crash, including the pilot, Major Puyer Pete Hill. An investigation
0:56.6	found the cause of the crash to be pilot error. He'd forgotten to release a lock on
1:01.8	the controls. The thing is, Major Hill was an
1:06.3	exceptionally qualified and experienced pilot. He was the chief of flight
1:10.8	testing for the air corps. How and why had he forgotten this step?
1:17.0	Today on the podcast we're looking at a simple common tool that came into widespread use due to that tragic event.
1:24.0	One that can improve outcomes on everything from a college application
1:28.0	to a perilous voyage to the moon.
1:32.0	Okay, here.
1:34.0	We've had a problem here.
1:35.0	I'm Dr. Katie Milkman,
1:40.0	and this is Choiceology,
1:42.0	an original podcast from Charles Schwab.
1:45.5	It's a show about the psychology and economics behind our decisions.
1:49.6	We bring you true stories involving high stakes make or break moments and we explore
1:54.0	the latest research in behavioral science to help you make better choices and
	...

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