People I (Mostly) Admire 34. Maya Shankar Is Changing People’s Behavior — and Her Own
Jul 3, 2021
Maya Shankar, a behavioral economist who shaped policy in the Obama administration and now influences Google, dives into the power of behavioral economics. She discusses how people respond to change and shares her personal journey, from a Juilliard violin prodigy to learning Mandarin after adopting two daughters. The conversation touches on the ethical implications of nudging, the importance of personal growth, and rediscovering joy through music. Maya's insights blend science and storytelling, offering a fresh lens on meaningful change.
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Skepticism and Scale in Behavioral Economics
- Steve Levitt expresses skepticism towards behavioral economics' real-world impact, citing small effect sizes.
- Shankar acknowledges these limitations but highlights the potential for large aggregate impact at scale.
Improving Retirement Savings Enrollment
- The Department of Defense aimed to boost retirement savings plan enrollment among military personnel.
- An active choice prompt during base changes led to a 4% increase, eventually leading to automatic enrollment.
Ensuring Long-Term Impact
- Shankar strategically placed her behavioral science team within the General Services Administration, a non-partisan entity.
- This ensured the team's survival beyond the Obama administration.
