Frameworks for Better Decision Making | Dr. Eric Johnson
Finding Mastery with Dr. Michael Gervais
Dr. Michael Gervais
4.6 • 1.8K Ratings
🗓️ 9 March 2022
⏱️ 81 minutes
🧾️ Download transcript
Summary
This week’s conversation is with Dr. Eric Johnson, a Norman Eig Professor of Business, and Director of the Center for Decision Sciences at the Columbia Business School.
He has been the President of the Society for Judgment and Decision-Making and the Society for Neuroeconomics.
His academic awards include the Distinguished Scientific Achievement Award of the Society for Consumer Psychology, Fellow of the Association of Consumer Research, and an honorary doctorate in behavioral economics from the University of St. Gallen in Switzerland.
Eric’s research examines the interface between Behavioral Decision Research, Economics and the decisions made by consumers, managers, and their implications for public policy, markets and marketing.
Among other topics, Eric has explored how the way options are presented to decision-makers affect their choices in areas such as organ donation, the choice of environmentally friendly products, and investments.
I wanted to have Eric on because I read his latest book, “The Elements of Choice: Why the Way We Decide Matters” – Decisions and microdecisions are one of our greatest human privileges. It is our choices that ultimately reveal who we are. Eric has spent his life understanding the frameworks for decision making – how we set conditions, and how conditions influence us.
You’ll be fascinated by what Eric has to share about decision making.
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Transcript
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| 0:00.0 | So there's been, you know, 30, 40 years of research on the idea that we use shortcuts or |
| 0:04.8 | heuristics to make choices. |
| 0:07.1 | And they do well most of the time. |
| 0:08.7 | I mean, that's, you know, sort of how we get through life, you know, Dan Economan famously |
| 0:14.1 | to coin the term system one versus system two, system one is this automatic system that |
| 0:18.4 | uses shortcuts. |
| 0:20.4 | System two does the math or, you know, does much more complex thinking and we would freeze |
| 0:26.5 | if we always use system two. |
| 0:28.4 | So system one is very important, but a lot of the shortcuts have blind spots. |
| 0:42.6 | Welcome. |
| 0:43.6 | This is the Finding Mastery podcast and I am Michael Jerve by trade and training a sport |
| 0:48.6 | and performance psychologist and I am fortunate to work with some of the most extraordinary |
| 0:52.9 | thinkers and doers across the planet and the whole idea behind these conversations is |
| 0:57.2 | to learn from people, learn from those who are challenging the edges of the human experience |
| 1:03.3 | in business and sport and science and life in general. |
| 1:06.4 | We are pulling back the curtain to explore how they have committed to mastering both |
| 1:10.7 | their craft and their minds. |
| 1:13.8 | Now through these conversations, you'll not only hear their stories, but you'll learn |
| 1:18.6 | their habits, their practices, the mindsets that they use to help them achieve and experience |
| 1:24.0 | the extraordinary. |
| 1:25.4 | We know that our minds are greatest asset and if you want to learn more about how you |
| 1:29.2 | can train your mind, this is just a quick little reminder to check out our online performance |
... |
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