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Choiceology with Katy Milkman

Little Bits of Happiness: With Guests Sally Millington & Ellen Evers

Choiceology with Katy Milkman

Charles Schwab

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

4.81.4K Ratings

🗓️ 2 June 2025

⏱️ 28 minutes

🧾️ Download transcript

Summary

Learn how the way we separate life's highs and lows can influence our happiness.

Transcript

Click on a timestamp to play from that location

0:00.0

We've asked some volunteers to imagine having to deliver two really bad pieces of news to a friend.

0:14.0

Do we need to start over?

0:17.0

Yeah, sorry about that, guys. Let me just turn this off.

0:20.0

To make the story memorable, we've asked them to imagine they've been pet sitting for that friend.

0:25.3

And due to a tragic accident, both Goldie and Bubbles passed away under their care.

0:30.8

Wait, what?

0:31.8

Don't worry.

0:32.3

It's just a thought experiment.

0:34.1

But yes, both of the fish died while you were looking after them.

0:38.1

Oh, that is horrible.

0:39.6

I would feel terrible if I did something like that.

0:42.7

Okay, but what would you prefer, in terms of delivering the news, would you want to do

0:48.1

like one bad piece of news on Monday?

0:50.7

You know, like, sorry about Goldie.

0:53.2

And then on Tuesday, Bubbles also didn't make it.

0:56.9

Or would you just, you know, rip the Band-Aid off and just tell them the bad news all at once on a phone call?

1:03.4

I'm going to go with the option, rip the Band-Aid off and tell all the news at one time.

1:08.4

Totally agree. Why prolong the pain? Everyone agrees. It's best to get all the bad at one time. Totally agree. Why prolong the pain?

1:11.4

Everyone agrees. It's best to get all the bad news over with in one go.

1:16.7

On the flip side, we ask them to imagine giving out joy all at once, versus in bite-sized pieces.

1:23.4

So this situation is a lot nicer. So imagine that you have a limited amount of money

1:29.2

to spend on a gift for your romantic partner, right? So you can afford to buy a dozen roses a year,

...

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