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Action Design Radio

Action Design Radio explores a variety of topics through the lens of behavioral science and psychology. Hosts Erik Johnson and Zarak Khan interview experts and practitioners to learn about cutting edge behavioral research, and how to practically apply it to fields like public policy and consumer products. The podcast is supported by the Action Design Network, a 501(c)3 non-profit organization founded in 2012 to promote the use of behavioral economics and psychology with over 10,000 members across the US and Canada.
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Now displaying: March, 2018
Mar 19, 2018

In this week’s episode, our hosts sit down with Linnea Gandhi, managing partner of the boutique consulting firm BehavioralSight and Adjunct Assistant Professor at the University of Chicago Booth School of Business. Linnea, Erik, and Zarak discuss the importance of following the scientific method. This process applies to all settings, including the corporate world where the demand is always for results – and getting them today (or yesterday, if possible). Avoiding gut reactions, intuition, and emotional responses – and instead replacing them with statistics, data, and algorithms – will lead to more optimal decision-making.

But how do we apply this process, especially in situations where important decisions are at stake? Linnea’s focus is on getting executives across industries to realize that we are all more capable of creating algorithms than we may think – even when it comes to decisions such as whether to merger with or acquire another company, or whether to lay off a significant amount of their workforce.

Linnea argues that research and psychological literature are not useful to most people unless you can apply it somewhere practical. So she urges us to make our brains work more like an algorithm by removing intuition from the equation as much as possible. Reduce the “noise” as much as you can and isolate the data. Then, translate your behavioral science improvements to the language of the stakeholders. That is what will truly grab attention.

And never forget to be painfully aware of your own confirmation bias.

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