Choiceology with Katy Milkman
Charles Schwab
Can we learn to make smarter choices? Listen in as host Katy Milkman--behavioral scientist, Wharton professor, and author of How to Change--shares stories of high-stakes decisions and what research reveals they can teach us. Choiceology, an original podcast from Charles Schwab, explores the lessons of behavioral economics to help you improve your judgment and change for good.
Season 1 of Choiceology was hosted by Dan Heath, bestselling author of Made to Stick and Switch.
Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options. (0321-1S88)
Season 1 of Choiceology was hosted by Dan Heath, bestselling author of Made to Stick and Switch.
Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options. (0321-1S88)
Episodes
Mentioned books
29 snips
May 4, 2026 • 31min
A Comedy of Economic Errors
Ulrike Malmendier, a UC Berkeley finance professor studying how big economic events shape risk, and Frank Ferrante, actor known for portraying Groucho Marx, share vivid stories. They discuss Groucho’s rise, the 1929 crash that wiped him out, and how major crises leave lasting caution. Conversations then shift to research showing lifetime experiences steer investing and risk attitudes.
74 snips
Apr 20, 2026 • 33min
The Illusion of Number One
Shriya Boppanna, an MBA student who once chased college prestige, shares how rankings shaped her life choices. Rick Larrick, a Duke professor who studies how ranks steer decisions, explains why a single number grabs attention. They explore how rank labels change what we notice, skew choices, and move markets.
78 snips
Apr 6, 2026 • 36min
When Sunk Costs Take Flight
Richard Thaler, Nobel-winning economist and behavioral economics pioneer, stops by to unpack why we cling to past costs. He discusses the Spruce Goose saga, why prepaid plans and wine experiments reveal odd money illusions, and how professionals mismanage losses. Short, vivid stories and a memorable rule make the sunk-cost problem surprisingly clear.
47 snips
Mar 23, 2026 • 36min
The Algorithm Advantage
Jennifer Logg, a Georgetown professor researching how people respond to algorithmic advice, and Dean Oliver, an ESPN data scientist who helped pioneer NBA analytics, join the conversation. They discuss the Celtics’ analytics-driven rebuild and how algorithms can outperform human judgment in prediction tasks. The show also explores when to trust machine guidance and the risks of biased or incomplete data.
14 snips
Mar 9, 2026 • 2min
Coming Soon: A New Season of Choiceology
True high-stakes rescue stories and tense sports roster decisions set the stage. Interviews with leading researchers in psychology and behavioral economics explore what drives big and everyday choices. Surprising findings about how experts treat advice and how crises shape behavior are teased. New installments arrive every two weeks.
132 snips
Oct 20, 2025 • 34min
Playing the Long Game: The Power of Self-Control
Angela Duckworth, a psychologist and author of "Grit," explores the science of self-control, emphasizing techniques to manage impulses effectively. Yuhuru Williams, a historian and advocate for racial justice, discusses Jackie Robinson's remarkable composure in the face of adversity and how it reshaped perceptions in baseball. They reveal how mastering self-control can lead to success, highlighting practical strategies like situational design to strengthen willpower and enhance personal discipline.
91 snips
Oct 20, 2025 • 34min
Bonus: A Sit Down With Katy Milkman & Angela Duckworth
Katy Milkman chats with Dr. Angela Duckworth, a renowned psychologist and author of 'Grit,' who has delved deep into self-control and perseverance. They explore how self-control manifests in everyday choices and the surprising insights from the famous marshmallow test. Angela offers practical strategies to enhance self-control, like modifying environments and using simple hacks to reduce temptation. She also distinguishes between grit and self-control, highlighting the importance of cultivating resilience through supportive relationships and structured environments.
129 snips
Oct 6, 2025 • 35min
How Mindset Shapes Success
Mary Murphy, a professor at Indiana University, dives into the fascinating world of mindsets, drawing from her research on motivation and growth. She explores how the labels we give ourselves, like 'talented' or 'not,' shape our abilities. Murphy highlights the differences between growth and fixed mindsets, explaining how the latter can hinder performance. She discusses practical strategies to shift from a fixed mindset, emphasizing the power of perseverance and adaptability in various aspects of life, including learning and investing.
112 snips
Sep 22, 2025 • 38min
Why Starting Over Hurts
Join Clayton Critcher, a UC Berkeley marketing and psychology professor, as he delves into the fascinating concept of doubling-back aversion—the reluctance to start over even when it’s the best choice. He shares the story of the Panama Canal's costly mistakes due to this bias. Listeners learn practical strategies to overcome this instinct, such as reframing wasted efforts and adopting a more flexible mindset. It’s a compelling exploration of how our minds trick us into resisting the smart pivot.
67 snips
Sep 8, 2025 • 43min
Teamwork That Works: What Great Teams Have in Common
Liev Hukset Wang is the Head of Communications at the Kon-Tiki Museum in Oslo, dedicated to preserving Thor Heyerdahl's legacy. Colin Fisher, an Associate Professor at UCL, focuses on innovation and teamwork. They discuss the remarkable Kon-Tiki expedition, emphasizing the importance of camaraderie and clear goals in achieving success. Colin shares insights on avoiding social loafing and fostering group synergy through effective collaboration, debunking myths about team dynamics with compelling historical examples.
