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The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Behavioral Economics Behind Amazon's SuccessIn this episode of The Brainy Business podcast, Melina Palmer revisits her insightful behavioral economics analysis of Amazon, originally aired in July 2021. She explores how Amazon transformed the shopping experience by understanding consumer behavior and leveraging key psychological principles. From the impact of reduced shipping times to the ingenious use of social proof, Melina breaks down the strategies that have made Amazon a retail giant. Listeners will discover how Amazon's approach to problem-solving and project management, including the Press Release method, has contributed to their success. Melina discusses the importance of understanding the real problems consumers face...2025-07-2236 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnlocking the Power of Vulnerability LoopsIn this episode of The Brainy Business podcast, Melina Palmer explores the concept of vulnerability loops, exploring how this powerful tool can enhance trust and foster deeper connections within teams and organizations. Originally aired in October 2022, this refreshed episode highlights the importance of embracing vulnerability as a means to build genuine relationships, featuring insights from John Levy and other thought leaders. Melina discusses how vulnerability, often seen as a weakness, can actually be a superpower that encourages trust and openness, especially in leadership roles. Melina explains the five-step process that constitutes a vulnerability loop and how it...2025-02-1134 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Streak End Rule: Revolutionizing Motivation with Polly KangIn this episode of The Brainy Business podcast, Melina Palmer welcomes Dr. Polly Kang, a postdoctoral scholar at INSEAD, to explore the fascinating "streak end rule" and its implications for motivation and job satisfaction. Polly's research delves into how feelings influence decisions in organizational settings, using advanced quantitative tools and vast data sets to uncover causal relationships. Polly shares insights from her study on a text-based crisis hotline, revealing how the order of tasks, rather than their difficulty alone, significantly impacts employee quitting rates. By strategically breaking up hard task streaks with easier tasks, organizations can reduce...2025-01-3049 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsDeclutter Your Mind: Behavioral Economics for a More Organized BrainIn this episode of The Brainy Business podcast, Melina Palmer explores the art of organizing your brain using behavioral economics principles. Feeling overwhelmed and scattered? You're not alone. Melina shares practical strategies to help streamline your mental processes, reduce stress, and boost productivity, drawing from behavioral economics insights. Originally aired in January 2020, this episode remains as relevant as ever, offering timeless advice on decluttering both your physical and digital spaces. In this episode: Discover the impact of clutter on decision-making and how it leads to poor choices. Learn about the "chocolate cake study" and its implications...2025-01-2845 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Leadership Amplification Effect with Adam GalinskyIn this episode of The Brainy Business podcast, Melina Palmer welcomes Dr. Adam Galinsky, author of the new book Inspire. Adam, a professor at Columbia Business School, shares insights from his extensive research on leadership, negotiation, and decision-making. He discusses the continuum of inspiring and infuriating leaders, revealing that these traits are universal and can be developed over time. Adam introduces the concept of the "leader amplification effect," emphasizing how leaders' actions and words are magnified in their impact on others. He shares personal anecdotes, including an enlightening story about his interaction with Daniel Kahneman, illustrating the...2025-01-2349 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsRethinking Failure: Behavioral Insights with Madeline QuinlanIn this episode of The Brainy Business podcast, Melina Palmer engages in an insightful conversation with Madeline Quinlan, a behavioral scientist and co-founder of Salient, a consultancy bridging the gap between academic insights and practical applications of behavioral science. Madeline shares her journey from finance to behavioral science and discusses the importance of reframing failures as opportunities for learning and growth. With a focus on the intersection of finance and psychology, Madeline reveals how unexpected outcomes can lead to deeper insights into human behavior and decision-making. Throughout the discussion, Melina and Madeline explore the significance of understanding...2025-01-2146 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsDefy: Embracing the Superpower of Responsibility with Sunita SahIn this episode of The Brainy Business podcast, Melina Palmer is joined by Dr. Sunita Sah, a physician turned organizational psychologist and professor at Cornell University. Sunita discusses her new book, Defy: The Power of No in a World that Demands Yes, which explores the importance of defiance in decision-making and how it can be a powerful tool for maintaining personal integrity and values. Her research delves into the dynamics of compliance, conflicts of interest, and the psychological processes that lead individuals to conform to bad advice, even when they know better. Sunita shares her journey from...2025-01-1649 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Power of Saying No with Vanessa PatrickIn this episode of The Brainy Business podcast, Melina Palmer is joined by Dr. Vanessa Patrick, a renowned professor of marketing and author of the USA Today bestseller, The Power of Saying No. Together, they delve into the critical art of saying no and how it can empower individuals to take control of their lives. Vanessa shares her insights on why people struggle with saying no, the importance of setting personal policies, and how empowered refusal can help you manage your time and energy effectively. Throughout the conversation, Melina and Vanessa discuss the psychological barriers that prevent...2025-01-1441 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsNever Play It Safe: Embracing Constraints and Creativity with Chase JarvisIn this episode of The Brainy Business podcast, Melina Palmer welcomes Chase Jarvis, author of Never Play It Safe, for an inspiring discussion on living a good life by leveraging essential tools we already possess. Chase, an award-winning artist and entrepreneur, shares insights from his journey and his new book, emphasizing the importance of looking inward rather than seeking external validation. Chase and Melina explore the seven essential tools for a fulfilling life: attention, time, intuition, constraints, play, failure, and practice. They explore how these tools can be harnessed to break free from societal expectations and craft...2025-01-0947 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBeyond January: Behavioral Insights for Lasting ResolutionsIn this episode of The Brainy Business podcast, Melina Palmer dives into the psychology of resolutions and the challenges of keeping commitments. As the New Year begins, many people find themselves struggling to maintain their resolutions, and Melina provides insights into why this happens and how to overcome it. She explores concepts from behavioral economics, including time discounting, anticipated regret, and counterfactual thinking, to understand the subconscious influences on our decision-making. Melina discusses the importance of making future goals feel real and attainable, emphasizing the need for realistic planning and the power of visualization. She also touches...2025-01-0740 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics4,000 Mondays: Making Every Week Count with Jodi WellmanIn this episode of The Brainy Business podcast, Melina Palmer welcomes Jodi Wellman, author of You Only Die Once, for an inspiring discussion on living a life without regrets. Jodi shares her insights on how to make the most of our limited time, emphasizing the importance of embracing mortality as a motivator for living fully. With a unique blend of humor and wisdom, she helps listeners explore the concept of mortality not as a source of fear, but as a catalyst for action and meaningful living. Throughout the conversation, Melina and Jodi explore the significance of the 4,000...2025-01-0251 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsHarnessing the Power of Regret with Dan PinkIn this episode of The Brainy Business podcast, Melina Palmer is joined by the renowned author Dan Pink to explore the intriguing concept of regret. Dan, known for his bestselling books including Drive, delves into his latest work, The Power of Regret, to discuss why this often-dreaded emotion can actually be a force for good. As the episode airs on New Year's Eve, it encourages listeners to reflect on their past year, consider their regrets, and use them as a tool for growth and improvement in the coming year. Dan shares insights from his comprehensive research, including...2024-12-3149 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsProximity: Redefining Business and Innovation in a Digital AgeIn this episode of The Brainy Business podcast, host Melina Palmer welcomes Dr. Rob Wolcott and Kaihan Krippendorff, co-authors of the book Proximity. Rob, an adjunct professor of Innovation at both the Booth School of Business and Kellogg School of Management, and Kaihan, the CEO of Outthinker Networks, delve into the concept of proximity and its transformative potential across industries. The discussion begins with the origins of the book, inspired by a tech conference and further catalyzed during a 24-hour summit amid the COVID-19 pandemic. They explore how digital advancements enable value creation closer to the moment...2024-12-2643 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsMoonshot Strategies: Business Insights from NASA's Space RaceIn this episode of The Brainy Business podcast, Melina Palmer revisits an insightful discussion on the lessons every business can learn from NASA. Originally aired in the summer of 2019 to commemorate the 50th anniversary of the moon landing, this episode explores the remarkable success of NASA's missions and their relevance to business strategies today. Melina explores the historical context of NASA's achievements, highlighting President Kennedy's influential speech that galvanized public support and set a bold deadline for landing a man on the moon. The episode uncovers five key lessons from NASA's Mercury, Gemini, and Apollo missions that...2024-12-2435 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Influence Equation: Transformational Change with Steve MartinIn this episode of The Brainy Business podcast, Melina Palmer is joined by Steve Martin, the acclaimed author of Influence at Work and a leading expert in the psychology of persuasion. Steve is known for his collaboration with Robert Cialdini and his extensive work in applying influence and persuasion science to business and public policy. Steve shares insights into his influence equation, a framework designed to simplify the complex nature of influence by integrating evidence, economics, and emotion. The conversation explores the transformational potential of influence beyond mere transactional interactions, emphasizing its role in organizational and global c...2024-12-1945 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsSocial Proof in Action: Understanding the Herding InstinctIn this episode of The Brainy Business podcast, Melina Palmer explores the fascinating world of social proof, a cornerstone of behavioral economics and a powerful tool for influencing decision-making. Melina goes beyond mere ratings and reviews, emphasizing our inherent tendency as a herding species to look to others for guidance in decision-making. She discusses how businesses can effectively leverage social proof to build trust and credibility, using real-world examples and the six types of social proof: expert, celebrity, user, wisdom of the crowd, wisdom of friends, and certification. In this episode: Learn about the origins of...2024-12-1742 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsElevating Brand Perception: DJ Sprague’s Journey from Limos to Reputation KingIn this episode of The Brainy Business podcast, Melina Palmer is joined by DJ Sprague, an expert in e-commerce, enterprise sales, and reputation management. DJ has worked with major brands such as Hyundai, Toyota, and NASCAR, and has a wealth of experience in improving online brand reputation and increasing site traffic and conversions. As the CMO of Shopper Approved, DJ shares insights into creating an integrated marketing strategy that delivers a cohesive brand experience to delight customers. The conversation kicks off with DJ's entrepreneurial journey, including his early success in the limousine business, where he differentiated his...2024-12-1251 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsEmbracing Negative Reviews: Behavioral Economics InsightsIn this episode of The Brainy Business podcast, Melina Palmer dives into the topic of negative reviews and how to approach them with insights from behavioral economics. Melina shares personal anecdotes and expert insights, including a fascinating tidbit from her friend Kurt Nelson and Dr. Robert Cialdini about the ideal star rating sweet spot for conversions. She explores why negative reviews stick with us more than positive ones, touching on psychological concepts like herding instincts, social proof, the focusing illusion, and cognitive dissonance. With practical advice on responding to reviews and understanding your brand's core values, this episode is...2024-12-1044 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsWhy Everyone Else Is A Hypocrite: Exploring Our Modular Minds w/ Dr. Robert KurzbanIn this episode of The Brainy Business podcast, Melina Palmer welcomes Dr. Robert Kurzban, author of Why Everyone Else Is a Hypocrite, for an enlightening discussion on the modular nature of our brains and the evolutionary psychology behind our behaviors. Robert shares his extensive background in psychology and evolutionary biology, offering insights into how our brains are compartmentalized with different modules responsible for various functions and beliefs. Throughout the conversation, Melina and Robert explore fascinating concepts such as strategic ignorance, the power of nonverbal communication in social interactions, and the complex interplay of competing motives within our...2024-12-0549 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe "G" in NUDGES: Mastering Feedback for Behavioral SuccessIn this episode of The Brainy Business podcast, Melina Palmer revisits a key topic from the foundational series on nudges, emphasizing the importance of feedback in correcting expected errors and guiding decision-making. Melina explores how thoughtful feedback mechanisms can keep individuals on track by providing timely and relevant cues, whether it's in daily life or within business processes. Melina shares practical examples of feedback in action, such as the use of flashing lights on speed limit signs or the innovative pink-to-white ceiling paint by Glidden, highlighting how feedback can be effectively integrated into various contexts to improve...2024-12-0343 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsEmbracing Winter: Mindset Shifts with Dr. Kari LebowitzIn this episode of The Brainy Business podcast, Melina Palmer is joined by Dr. Kari Leibowitz, a health psychologist, speaker, and writer. Kari, who holds a PhD in social psychology from Stanford University, shares her insights on the power of mindsets and how they influence our health and well-being. She discusses her research on how people in the Arctic embrace winter, as well as her new book, How to Winter, which explores the opportunities that winter presents both literally and metaphorically. As the episode is released on Thanksgiving, it serves as a timely reminder to shift our...2024-11-2840 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsEmbracing Familiarity Bias: The Comfort of the KnownIn this episode of The Brainy Business podcast, Melina Palmer delves into the world of familiarity bias, a psychological phenomenon that makes us favor the known over the unknown. Our brains are naturally inclined to prefer the familiar, which can impact decisions in both personal and business contexts. This episode revisits the topic, originally aired in April 2021, to explore how familiarity bias affects our choices and how we can leverage it to our advantage. Melina discusses the implications of familiarity bias on business decisions and personal growth, highlighting how it can lead to holding onto outdated practices...2024-11-2622 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Hive Mind at Work: Transforming Organizations with Dr. Siobhan McHaleIn this episode of The Brainy Business podcast, Melina Palmer welcomes Dr. Siobhan McHale, author of The Hive Mind at Work. Siobhan's fascination with bees from her childhood in Southern Ireland led her to explore human ecosystems and the power of group intelligence in transforming workplaces. With over 30 years of experience, she has guided leaders in creating agile and productive environments, drawing from her role as an executive in charge of transformation at international firms like ANZ Bank. Throughout the episode, Siobhan discusses the concept of the hive mind and its application in business, emphasizing the importance...2024-11-2139 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Taste of Success: How Flavor Impacts Buying BehaviorIn this episode of The Brainy Business podcast, host Melina Palmer revisits a fascinating topic: the sense of taste. Originally aired as episode 26, this episode is part of a series exploring the five senses and their impact on behavioral economics and decision-making. Whether your business is service-based or product-focused, Melina emphasizes the importance of considering all senses, including taste, in your strategy. Melina delves into the intricate relationship between taste and smell, revealing that taste is 80% smell. She discusses the concept of anosmia, a condition where individuals lose their sense of smell, and how it significantly diminishes...2024-11-1930 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsFrom Insights to Action: Behavioral Science at Lyft with Irrational LabsIn this episode of The Brainy Business podcast, host Melina Palmer welcomes Evelyn Gosnell and Dr. Isabel Macdonald from Irrational Labs. Evelyn, as the managing director, applies behavioral insights to help product teams drive business outcomes and customer value. She has collaborated with leading companies like Lyft, TikTok, Google, and more. Isabel, a behavioral scientist with a PhD in public policy from Harvard University, focuses on leveraging economic and psychological forces to guide the development of technology tools for social good. The episode delves into a recent project with Lyft, where Evelyn and Isabel share key insights...2024-11-1449 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBridging the Intention-Action Gap: Behavioral Insights with Dr. Sudy MajdIn this episode of The Brainy Business podcast, Melina Palmer revisits a compelling conversation with Dr. Sudy Majd, a leader and behavioral scientist with a rich background in e-commerce purchasing behaviors. Originally aired in early April 2020, this episode delves into Sudy's work at Candid, a company that helps people straighten their teeth with clear aligners, and her journey to incorporate behavioral science into business practices. During the episode, Sudy shares insights from her research on consumer behavior, particularly focusing on the challenges of getting customers to return kits necessary for purchasing aligners. She discusses the surprising outcomes...2024-11-1230 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Birth of Consumer Choice w/ Jason VoiovichIn this episode of The Brainy Business podcast, Melina Palmer welcomes Jason Voiovich, author of Booze, Babe, and the Little Black Dress, for a fascinating discussion about the consumer revolution of the 1920s. Jason, with over 25 years of experience in launching innovative products, shares his insights into how the Roaring Twenties shaped modern consumer behavior and choice culture. Jason discusses his journey from a family of artists, immigrants, and entrepreneurs to becoming a fractional chief marketing officer and chief innovation officer. He emphasizes the importance of history in understanding consumer behavior and innovation, revealing how lessons from...2024-11-0751 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Power of NUDGES and Choice Architecture (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer revisits the foundational concepts of choice architecture and nudges, crucial elements in the field of behavioral economics. Originally aired as episode 35, this episode sets the stage for understanding how subtle changes in the way choices are presented can significantly influence decision-making. Melina refreshes this episode to prepare listeners for her upcoming conversation with author Jason Vojovich. Melina delves into the work of Nobel laureate Richard Thaler and his co-author Cass Sunstein, explaining how their book Nudge has shaped our understanding of nudges. She uses practical examples, such...2024-11-0536 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsCracking Consumer Codes: Hunter Thurman of Alpha-Diver on Pricing PsychologyIn this episode of The Brainy Business podcast, Melina Palmer welcomes Hunter Thurman, president of Alpha-Diver, for an engaging discussion on the intersection of neuroscience, market research, and consumer behavior. Hunter shares his journey from traditional market research to founding Alpha-Diver, a firm that leverages behavioral science to uncover the deeper motivations behind consumer actions. With a focus on the BEV 50 report, Hunter reveals fascinating insights into how pricing perceptions differ between high-interest, exploratory brands like Poppy and Olipop and routine staples like Coke and Pepsi. Hunter explains how consumers' concerns about price are often inversely related...2024-10-3152 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsAI Meets Behavioral Economics: Predicting Consumer Behavior w/ Sam Albert of Behaviorally (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating intersection of artificial intelligence and behavioral economics with Sam Albert, Chief Digital Officer at Behaviorally. Sam shares his extensive experience in the research industry and discusses the innovative work his team is doing with Flash.AI to create predictive models that help businesses increase sales and improve customer connections. Sam explains how Behaviorally leverages a rich database of system one and system two behaviors, along with advanced image recognition, to predict consumer actions and reactions. He provides valuable insights into the dynamic nature...2024-10-2938 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBehavioral Science at Scale: William Mailer on Banking InnovationsIn episode 439 of The Brainy Business podcast, Melina Palmer welcomes William Mailer, Chief Behavioral Scientist at Commonwealth Bank of Australia, to discuss the intersection of behavioral science and financial well-being. William, who leads the bank's Behavioral Science Center of Excellence, shares insights on how his multidisciplinary team of economists, psychologists, and data scientists work to improve financial well-being and climate action outcomes for millions of Australians. The episode explores the innovative projects led by Will’s team, including Benefits Finder, which has connected Australians to over $1.2 billion in government benefits. Will also explores his journey into behavioral sc...2024-10-2446 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsApple Card: Behavioral Economics in Action (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer revisits the impactful announcement of the Apple Card and its behavioral economics implications. Originally aired in April 2019, this episode explores the strategic genius behind Apple's reveal of its new financial product. Melina discusses the anticipation and expectations built by Apple, the delayed pricing strategy, and the clever use of framing and herding behaviors to captivate potential customers. She also explores how familiarity and celebrity endorsements are crucial to Apple's marketing success. Melina's analysis provides valuable lessons for businesses in any industry, emphasizing the importance of stepping out...2024-10-2245 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Science of Immersion: Transforming Business with Dr. Paul ZakIn episode 437 of The Brainy Business podcast, Melina Palmer welcomes Dr. Paul Zak, a distinguished University professor at Claremont Graduate University and a top 0.3% most cited scientist. Known for his pioneering research in behavioral neuroscience, Paul has authored several influential books, including Trust Factor and The Moral Molecule. His latest book, Immersion, explores the neuroscience behind happiness and extraordinary experiences. Paul is also a four-time tech entrepreneur and the founder of Immersion Neuroscience, a platform that measures brain activity to improve outcomes in various fields such as entertainment, education, and advertising. Throughout the episode, Paul shares insights...2024-10-1753 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Brainy Biases: Why Novelty and Stories Captivate Us (Refreshed Episode)In episode 436 of The Brainy Business podcast, Melina Palmer dives into the fascinating biases our brains have toward novelty and stories. This episode, originally aired in 2019, is part of an eight-part series on biases and offers a rapid-fire overview of how our brains respond to new and intriguing stimuli. Melina explains concepts like the bizarreness effect, humor effect, pareidolia, and more, illustrating how these biases impact our decisions and interactions in both personal and professional settings. Melina also touches on the importance of storytelling in building trust and engagement, setting the stage for her upcoming interview with...2024-10-1528 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsScaling Behavioral Economics at BBVA with Quique BelenguerIn this episode of The Brainy Business podcast, Melina Palmer welcomes Quique Belenguer, the global lead of behavioral economics at BBVA. This insightful discussion centers on the internal structuring of behavioral economics teams within organizations, offering valuable lessons and strategies for those looking to incorporate behavioral science into their business practices. Quique shares his experience at BBVA, where he has been instrumental in developing a behavioral economics unit over the past six years. He discusses the evolution of their approach, from focusing on small tweaks to integrating behavioral insights into broader strategic projects. Quique emphasizes the importance...2024-10-1049 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsDesigning for Behavior Change: Insights from Dr. Steve Wendel (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer sits down with Dr. Steve Wendel to explore the intricacies of designing for behavior change. Steve, an esteemed applied behavioral scientist and co-founder of sistemaFutura, shares his extensive experience in using behavioral science to drive positive social impact. He has held significant roles at organizations like the Busara Center for Behavioral Economics and Morningstar, and authored several books, including the focal point of today's discussion, Designing for Behavior Change, now in its second edition. Throughout the episode, Steve delves into the practical applications of behavioral science, sharing...2024-10-0845 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Art of Strategic Relationships: A Conversation with Andy LopataIn this episode of The Brainy Business podcast, Melina Palmer welcomes Andy Lopata, a renowned specialist in professional relationships and networking. With nearly 25 years of experience, Andy has been recognized as one of Europe's leading business networking strategists by the Financial Times. He is an international speaker, podcast host, and author of six books, including the Financial Times Guide to Mentoring, co-authored with Ruth Gotian. In this episode, Andy shares his insights on investing in relationships and creating a network of people who are willing to help and follow through on those intentions. The conversation delves into...2024-10-0351 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsMastering Ethical Influence with Brian Ahearn (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer dives into the realm of ethical influence with Brian Ahearn. Brian, a distinguished expert in the field, is one of only a dozen individuals worldwide to hold the Cialdini Method Certified Trainer designation and one of a handful to have earned the Cialdini Pre-Suasion Trainer designation. As a faculty member of the Cialdini Institute, Brian is dedicated to teaching the science of influence to help people achieve greater professional success and personal happiness. Throughout the episode, Brian shares his extensive experience in applying the psychology of persuasion...2024-10-0148 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsIs Your Work Worth It? Exploring Purpose with Christopher Wong MichelsonIn this episode of The Brainy Business podcast, host Melina Palmer welcomes Christopher Wong Michelson, co-author of Is Your Work Worth It?. Christopher, a philosopher with 25 years of experience advising business leaders, explores the profound questions surrounding the meaning and value of work. With a PhD in philosophical ethics and aesthetics, Christopher has held significant roles at PwC and academic positions at the Wharton School and NYU's Stern School of Business. His extensive background provides a rich foundation for exploring how work contributes to our sense of purpose and identity. Throughout the episode, Christopher shares insights from...2024-09-2648 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnlocking the Secrets of Behavioral Change with Dr. Katy Milkman (Refreshed Episode)In this episode of The Brainy Business podcast, host Melina Palmer welcomes Dr. Katy Milkman to discuss the intricacies of creating lasting behavior change. Katy, a professor at the Wharton School and co-director of the Behavior Change for Good Initiative, shares insights from her book How to Change. Melina and Katy discuss fresh starts, temptation bundling, and the importance of understanding the underlying barriers to change. They also cover the surprising benefits of giving advice to others as a means of boosting one's own confidence and motivation. Through engaging stories and practical examples, Katy illustrates how small...2024-09-2448 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsMastering the Art of Learning: Insights from Scott YoungIn this episode of The Brainy Business podcast, host Melina Palmer welcomes Scott H. Young, the Wall Street Journal bestselling author of Ultralearning and Get Better at Anything. Scott shares his extensive insights into learning, cognitive science, and the psychology behind mastering new skills. Known for his MIT Challenge and year-long language learning adventure, Scott discusses the importance of immersive learning, repetitive practice, and the role of feedback in achieving fluency and proficiency. Scott delves into the fascinating world of how we learn and improve, emphasizing the significance of learning from others, the challenges of problem-solving, and t...2024-09-1947 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsHabits Unveiled: The Science of Good and Bad Habits with Dr. Wendy Wood (Refreshed Episode)In this episode of The Brainy Business podcast, host Melina Palmer revisits her insightful conversation with Dr. Wendy Wood, author of Good Habits, Bad Habits. This episode dives deep into the psychology behind habits, exploring how they are formed, maintained, and changed. Wendy, a leading expert in behavioral science, shares practical tips and research-backed strategies to help you understand and harness the power of habits in your personal and professional life. Melina and Wendy discuss the foundational role habits play in our daily routines and decision-making processes. They emphasize the importance of recognizing both good and bad...2024-09-1746 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Mentorship Mindset: Nobel Insights with Dr. Bob LefkowitzIn this episode of The Brainy Business podcast, host Melina Palmer welcomes Nobel Prize winner Dr. Bob Lefkowitz for an insightful discussion on mentorship, focus, and the power of saying no. Dr. Lefkowitz, a distinguished professor at Duke University Medical Center, shares his journey from a passionate physician to a Nobel laureate in Chemistry, highlighting the impact of his research. Dr. Lefkowitz delves into the importance of mentorship, recounting his own experiences and the significance of his mentee, Brian Kobilka, with whom he shared the Nobel Prize. He emphasizes the value of asking good questions, being thoughtful...2024-09-1250 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsDefaults Uncovered: The Hidden Influences on Our Choices (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer explores the concept of defaults, how they impact our decisions, and the critical role they play in business and everyday life. Melina discusses the omnipresence of defaults and how they influence our choices, often without us even realizing it. She explains the concept of status quo bias and how it makes us more likely to stick with default options, even when they may not be in our best interest. Using examples from retirement savings to organ donation, Melina illustrates the power of defaults and the importance of thoughtful choice a...2024-09-1038 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsDecisions Over Decimals: Insights from Christopher FrankIn this episode of The Brainy Business podcast, Melina Palmer and Christopher Frank, Chief Client Officer at PSB Insights, dive into the art of decision-making in a data-driven world. Christopher, who has a rich background with industry giants like American Express and Microsoft, shares his expertise in leveraging consumer insights to gain a competitive edge. As a thought leader in critical thinking and decision science, he offers valuable perspectives on how to ask the right questions and interpret data for smarter business decisions. Christopher’s insights are not only theoretical but also practical, drawn from his extensive ex...2024-09-0541 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsMastering Project Scoping with Questions: Insights from Mars w/ Beatrix Daros (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer explores the power of questions in project scoping with Beatrix Daros. Originally aired in 2022, this episode revisits their collaborative work from 2019, focusing on leveraging behavioral economics to enhance project outcomes. Beatrix emphasizes the importance of balancing technology with deep human connections, a principle she applied while working on Mars' KIND brand. As you listen, consider how clearly Beatrix articulates their value proposition and approach, and think about how this clarity can be applied to your own business practices. Beatrix shares insights on the global differences in snacking...2024-09-0348 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnveiling the Biases Behind Misinformation w/ Alex EdmondsIn this episode of The Brainy Business podcast, Melina Palmer welcomes Alex Edmans, author of May Contain Lies, to discuss the fascinating intersection of finance, behavioral economics, and misinformation. Alex, a professor of finance at London Business School with a Ph.D. from MIT, delves into the impact of emotions on the stock market, using intriguing examples from his research, including the emotional effects of international sports results on stock market behavior. Throughout the conversation, Alex and Melina explore the broader implications of emotional influences on decision-making in both personal finance and business contexts. They discuss the d...2024-08-3045 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Lazy Brain: Unveiling Biases That Shape Our Decisions (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer explores the fascinating world of lazy brain biases. This episode is part of an eight-part series exploring various biases, focusing on how our brains prefer to take the path of least resistance. This rapid-fire episode provides a brief overview of each bias, helping you understand their roles, interactions, and impacts on decision-making. Melina refreshes this episode in anticipation of her upcoming interview with Alex Edmonds about his book May Contain Lies, which discusses misinformation and the importance of understanding information responsibly. Lazy brain biases play a significant...2024-08-2726 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBehavioral Science and Democracy w/ Beatriz VallejoIn this episode of The Brainy Business podcast, Melina Palmer is joined by Beatriz Vallejo, CEO of Ethos BT, to discuss the impactful work of reducing misinformation and polarization in Colombia using behavioral science. Beatriz, a behavioral scientist and economist, shares her journey from studying economics in Colombia to completing a master's in behavioral change at UCL, focusing on the factors that lead to the belief and spread of fake news. The conversation visits her extensive research on misinformation, the psychological factors influencing it, and the innovative Detox Information Project aimed at mitigating these issues. Beatriz highlights...2024-08-2336 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Mentorship Mindset: Insights from Dr. Ruth GotianIn episode 419 of The Brainy Business podcast, Dr. Ruth Gotian, co-author of the Financial Times Guide to Mentoring, shares her extensive expertise on mentorship and leadership development with host Melina Palmer. Ruth, who serves as the Chief Learning Officer and Associate Professor of Education in Anesthesiology at Weill Cornell Medicine, is a globally recognized expert in mentorship, hailed by institutions like Nature, Wall Street Journal, and Columbia University. She discusses the vital role of mentorship in achieving success and the importance of having a team of mentors to guide and support high achievers. Throughout the conversation, Ruth...2024-08-1648 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Hidden Forces Shaping Your Decisions: Personal Biases Explained (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating world of personal biases, exploring how our brains are wired to perceive ourselves and the world around us. This episode, originally aired in April 2019, provides a rapid-fire overview of various biases that impact our personal and professional lives. Melina discusses optimism bias, planning fallacy, naive realism, false consensus effect, and more, offering insights into how these biases shape our decisions and interactions. Through practical examples and relatable anecdotes, Melina helps listeners understand the complexities of their own biases and how to leverage this...2024-08-1337 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Art of Respectful Disagreement w/ Justin Jones-FosuIn episode 417 of The Brainy Business podcast, Melina Palmer interviews Justin Jones-Fosu, author of I Respectfully Disagree. Justin, the CEO of Work Meaningful, is a dynamic speaker and thought leader on topics of meaningful work and inclusion, delivering over 50 keynote addresses annually. His latest book delves into navigating difficult conversations in a divided world, a theme central to today’s discussion. Throughout the episode, Justin shares his insights on creating meaningful work environments and the importance of respectful disagreement. He emphasizes the significance of individuals finding meaning in their work, rather than relying solely on organizational missions. Ju...2024-08-0927 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsMastering Motivation: Behavioral Economics Insights (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer dives into the intricacies of motivation, exploring how our brains can both get and stay motivated. This episode is designed to help you understand the psychological underpinnings of motivation, including the impact of behavioral economics concepts like loss aversion, habits, and framing. Whether you're aiming for personal development or looking to integrate these insights into your business strategies, this episode has you covered. Melina shares personal stories, including her journey with running, to illustrate the principles of intrinsic and extrinsic motivation. She also evaluates popular fitness apps l...2024-08-0643 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBehavioral Finance and Wealth Confidence w/ Anthony Damtsis of TD WealthIn episode 415 of The Brainy Business podcast, host Melina Palmer welcomes Anthony Damtsis, Deputy Head of Behavioral Finance at TD Wealth. Anthony shares his fascinating journey from leading the behavioral science practice at Discover Card in Chicago to his current role at TD Wealth, where he develops tools to help advisors integrate behavioral finance principles into their practice. The episode delves into his background, the importance of word choice in financial planning, and the intriguing concept of "wealth confidence." Throughout the conversation, Anthony discusses how subjective feelings of wealth can differ significantly from objective measures, revealing that...2024-08-0247 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsStructuring Complex Choices: The "S" in NUDGES Explained (Refreshed Episode)In episode 414 of The Brainy Business podcast, host Melina Palmer delves into the intricacies of structuring complex choices, the "S" in NUDGES. This episode revisits the crucial topic of choice architecture, emphasizing how businesses can simplify decision-making processes for their customers. By understanding and effectively managing complex choices, businesses can significantly enhance customer experience and satisfaction. This episode is packed with practical tips and examples to help businesses reduce complexity and improve customer decision-making processes. Melina encourages listeners to think creatively about their business challenges and consider how successful companies might approach similar problems. In...2024-07-3034 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBehavioral Science in Action: From TEDx Talks to Real-World Change with Jordan BridgerIn this episode of The Brainy Business podcast, host Melina Palmer welcomes Jordan Bridger, a behavioral scientist, social psychologist, comedian, and speaker who has graced four TEDx stages. Jordan dives into the fascinating world of linguistic neuroscience, exploring how our word choices and the symbols we use shape our experiences and behaviors. He shares his insights on the power of storytelling, the importance of understanding context, and how seemingly small changes in language can create significant impacts. Jordan discusses his diverse career, from working with global organizations like the United Nations and the city of Vancouver to...2024-07-1951 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsNudgeable Moments: Tackling Insurance Fraud with Dr. Benny Cheung(Refreshed Episode)In this episode of The Brainy Business podcast, host Melina Palmer revisits her engaging conversation with Dr. Benny Cheung of Dectech. Originally aired in February 2021, this episode dives into the fascinating world of applied behavioral science, focusing on a compelling case study about opportunistic insurance fraud. Benny shares insights from his academic journey in behavioral genetics to his application of behavioral techniques in a commercial setting, providing valuable lessons for businesses across various industries. Benny's research on opportunistic insurance fraud reveals how simple behavioral interventions can significantly reduce dishonest behaviors among consumers. By leveraging techniques such as...2024-07-1642 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsHarnessing the Peak-End Rule for Outstanding Experiences (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer delves into the intricacies of the peak-end rule and its significant influence on customer experiences. Drawing from her expertise in behavioral economics, Melina elucidates how our brains prioritize intense moments and the final impression when evaluating experiences. She provides practical examples and actionable strategies for businesses to strategically apply the peak-end rule, highlighting the importance of creating positive peaks and endings in all interactions. Listeners gain valuable insights into enhancing customer relationships, driving employee engagement, and improving overall business performance by understanding and implementing this cognitive mechanism. W...2024-07-0934 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnpacking the Psychology Behind Scarcity w/ Mindy WeinsteinIn Episode 407 of The Brainy Business podcast, Mindy Weinstein, the author of The Power of Scarcity and CEO of Market MindShift, joins host Melina Palmer to discuss the psychological impact of scarcity on consumer behavior. Mindy's expertise in scarcity tactics stems from her Ph.D. program and extensive market insights. Throughout the episode, Mindy explains the primal influence of scarcity on human behavior, identifying four types of scarcity: supply-related, demand-related, time-related, and limited edition. She emphasizes the importance of honest and transparent scarcity in marketing and shares practical case studies that illustrate the effectiveness of scarcity in d...2024-07-0545 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnveiling Survivorship Bias: How It Shapes Business Decisions (Refreshed Episode)Welcome to the 400th episode of The Brainy Business podcast! In this milestone episode, Melina Palmer delves into the intriguing concept of survivorship bias, a critical thinking error that can significantly impact decision-making in business and personal life. Through engaging storytelling, Melina takes us back to World War II to uncover the origins of this concept and how it played a crucial role in military strategy. She then brings the concept into contemporary contexts, illustrating how survivorship bias leads us to overvalue success stories while ignoring the vital lessons from failures. This episode not only celebrates our p...2024-06-1128 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsReflecting on the Past: The Reality of Hindsight Bias (Refreshed Episode)In Episode 396 of The Brainy Business podcast, host Melina Palmer explores the intriguing world of memory reliability and the common misconceptions that alter our perception of past events. Melina delves into how our brains often mislead us into thinking we understood or predicted outcomes that were, in fact, unforeseeable. With insights into cognitive biases like leveling, sharpening, and survivorship bias, this episode uncovers how these mental processes distort our understanding of reality and influence business and personal decisions. Drawing from vivid examples and thoughtful analysis, Melina offers practical strategies to combat hindsight bias and enhance decision-making clarity. W...2024-05-2823 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsPrecommitment Psychology: Sticking to Your Goals (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer explores the psychology behind precommitments and how they can profoundly impact our lives. Step into a thought-provoking conversation about the tools that assist us in adhering to our goals, including innovative apps like Stickk and Forest. Melina discusses the art of balancing personal aspirations and professional interactions, sharing anecdotes and advice on commitment and accountability. Get insights into practical methods for setting realistic deadlines and implementing precommitment tactics that truly work. Anticipate an exciting look ahead to her upcoming TEDx talk as well. This episode isn't just...2024-04-3029 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Hidden Tax of Sludge in Business (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer delves into the concept of sludge in business processes, shedding light on unnecessary barriers that hinder customers and internal operations. Drawing from her deep understanding of behavioral economics and cognitive psychology, Melina provides practical insights and real-world examples to demonstrate the impact of sludge on customer satisfaction, employee morale, and overall efficiency. With a focus on creating brain-friendly environments, she offers actionable strategies and resources for businesses to streamline processes and eliminate sludge, making it easier for people to engage with their products and services. Melina’s exp...2024-04-1631 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsHacking Human Psychology: Leveraging the IKEA Effect in Business (Refreshed Episode)In this episode of The Brainy Business podcast, host Melina Palmer delves into the concept of the IKEA effect, highlighting its influence on consumer behavior and business strategies. Drawing from real-life examples, Palmer emphasizes the significance of recognizing and celebrating employees' contributions in fostering a culture of innovation and engagement. By involving employees in development and change initiatives, businesses can tap into the innate need for ownership and connection. The episode also underscores the importance of understanding human psychology and behavior as crucial elements in driving successful business outcomes. With valuable insights into leveraging the IKEA effect t...2024-04-0236 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Illusion of Focus: Why We Miss What Matters When it Matters Most (Refreshed Episode)In this episode of The Brainy Business, Melina Palmer delves into the fascinating concept of selective attention biases, shedding light on how our brains naturally filter what we focus on, influencing our decisions and perceptions. Through real-life examples and relatable anecdotes, Melina explores various biases, including the frequency illusion, mere exposure effect, and Von Restorff effect, to showcase how our perceptions are shaped by what we pay attention to. By emphasizing the power of shifting focus and expectations, she highlights the practical implications of understanding and challenging these biases. Melina's insights provide valuable guidance on how to n...2024-03-2631 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsStatus Quo Bias (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating world of status quo bias. She delves into how our brains are wired to stick to what's familiar and how that impacts our decision-making. Melina talks about how our subconscious, or system one, is responsible for processing a whopping 99% of our decisions, and how it relies on biases and heuristics to navigate through the daily information overload. From choosing familiar routes to work to hesitating to leave a job for something new, she walks through how status quo bias shows up in various a...2024-03-1926 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsHabituation and Its Antidote: A Conversation with Cass SunsteinIn the episode of The Brainy Business podcast, Cass Sunstein, a renowned legal scholar and behavioral economist, joined host Melina Palmer to discuss his new book, Look Again, and the concept of habituation and its impact on decision-making. Cass' extensive work in government and with businesses has provided him with a deep understanding of human behavior, making his insights invaluable for business leaders and decision-makers. The conversation delved into the significance of habituation, exploring how individuals become less sensitive to stimuli over time. Cass highlighted the value of exploration and exploitation in learning and decision-making, emphasizing the i...2024-03-0133 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsRethinking Business as Usual: Adapting Strategy for Changing Times (Refreshed Episode)In this episode of The Brainy Business podcast, Melina Palmer explores the concept of normalcy bias and its implications for decision-making. She provides compelling examples of how normalcy bias impacts individuals and industries, emphasizing the necessity of overcoming this mindset to foster adaptability and innovation. Melina underscores the significance of seizing virtual opportunities and leveraging behavioral economics for business success, urging her audience to consider the enduring value of maintaining virtual offerings. Additionally, she addresses the perils of normalcy bias, emphasizing the need to acknowledge and confront the tendency to underestimate potential future challenges or changes. Melina t...2024-02-2720 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsTapping Into the Power of Habit: How to Build Customer Loyalty (Refreshed Episode)In this episode of The Brainy Business, Melina Palmer dives into the fascinating world of habits and their impact on business. Inspired by an upcoming interview with author Scott Rick on habits and money, Melina explores how habits can be harnessed in various business settings. She shares examples of big players like Starbucks and Costco, highlighting how they leverage habits to keep customers engaged and coming back for more. Melina's insights on the power of habits and their application in business provide a fresh perspective for entrepreneurs and business owners. By understanding the psychology behind habits, she e...2024-02-2046 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnmasking the Hawthorne Effect: Improving Performance and Motivation (Refreshed Episode)In this episode of The Brainy Business podcast, host Melina Palmer explores the intriguing concept of the Hawthorne Effect and its implications for employee behavior and productivity. Drawing from her wealth of experience in behavioral science, Melina adeptly navigates the significance of monitoring in the workplace, emphasizing the need for transparency and employee involvement. She expertly highlights the benefits and potential drawbacks of monitoring, offering valuable insights into the complexities of human behavior and their implications for businesses. The episode captures Melina's passion for behavioral design and her dedication to unraveling the multifaceted factors that influence employee p...2024-02-0625 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsAnticipating Errors: The Secret to Guiding Behavior and Influencing DecisionsIn this episode of The Brainy Business podcast, you'll join host Melina Palmer as she dives into the fascinating world of behavioral economics and decision-making. With her expertise in the field, Melina explores the concept of Expect Error and how it plays a crucial role in understanding human behavior and designing effective nudges. By sharing personal experiences and real-life examples, she highlights the common errors we make in judgment and decision-making. From post-completion errors to forgetfulness, Melina demonstrates how anticipating these errors can lead to improved decision-making and behavior. Throughout the episode, she provides valuable insights and p...2024-01-3043 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnlocking Your Decision-Making Potential: Tackling Cognitive Overload (Refreshed Episode)In this episode of The Brainy Business podcast, you'll join host Melina Palmer as she dives into the fascinating topic of cognitive overload and its impact on decision-making. Melina's expertise in behavioral economics and decision science makes her the perfect guide to help you understand how an overwhelmed brain can hinder your ability to make rational choices. She shares insightful strategies for reducing cognitive load, allowing you to improve your decision-making skills and make better choices in all aspects of life. With her engaging storytelling and relatable examples, Melina will captivate your attention and leave you with...2024-01-1638 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsQuality vs Value: Creating a Clear and Impactful Brand IdentityIn this episode of The Brainy Business podcast, host Melina Palmer dives into the importance of choosing between quality and value when it comes to your brand strategy. She talks about how businesses can be successful with either approach, but it's crucial to pick one and stick with it. Melina shares real case studies of brands like Supreme and Costco to illustrate how they've excelled by aligning their pricing strategies with their brand messaging. She emphasizes that understanding how customers perceive your brand is key to making informed decisions about your positioning in the market. If you're a...2024-01-1145 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnleashing the Power of Pricing: Mastering Consumer Behavior for Higher Sales (Refreshed Episode)In this episode of The Brainy Business podcast, host Melina Palmer delves into the psychology of pricing strategy, drawing from her experiences at a conference for female entrepreneurs and her expertise in behavioral economics, which also served as the foundation for her book, The Truth About Pricing. Melina emphasizes the importance of understanding the subconscious influences that drive consumer behavior and how businesses can leverage sensory cues and anticipation to shape purchasing decisions. She shares insights on creating an irresistible introduction, utilizing the five senses, and leveraging principles of behavioral economics to capture customers' attention and drive s...2024-01-0947 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Truth About Pricing: Behind the ScenesIn this episode of The Brainy Business podcast, Melina Palmer unveils the backstory of her latest book, The Truth About Pricing: How to Apply Behavioral Economics so Customers Buy. By tracing her path from book concept to publication, Melina underscores the significance of pricing confidence for businesses. The episode delves into the challenges businesses encounter in pricing and how Melina's book offers actionable advice to cultivate that essential confidence. With a focus on unraveling the psychology and behavioral economics underpinning pricing decisions, Melina's book aims to empower businesses to enhance their sales strategies and cultivate customer loyalty. F...2024-01-0538 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsDiscover the Secrets to Successfully Increase Prices for Your Business (Refreshed Episode)In this episode of The Brainy Business podcast, host Melina Palmer dives deep into the topic of raising prices for businesses. Melina shares insights on the psychology behind pricing decisions and emphasizes the importance of understanding the value and context for customers. She provides practical strategies for overcoming mindset blocks and gaining confidence in quoting prices to potential clients. By drawing on examples from various industries, including retail and service-based businesses, Melina offers valuable advice on how to navigate the process of raising prices effectively. Her approachable and practical guidance, combined with real-world examples, makes this episode a...2024-01-0238 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsDefeating the Planning Fallacy: Strategies for Smarter Time Management (Refreshed Episode)In this episode of The Brainy Business podcast, you'll join host Melina Palmer as she dives into the fascinating topic of the planning fallacy. Melina shares her personal experiences with underestimating the time it takes to complete tasks and projects, revealing that even she, an expert in the field, is not immune to this cognitive bias. But fear not, because Melina also provides valuable strategies to combat the planning fallacy and improve your planning accuracy. From seeking external perspectives to breaking tasks into smaller steps, she offers practical advice that you can implement in your own life...2023-12-0537 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBooks That Will Change Your BrainIn this episode of The Brainy Business podcast, you'll dive into a fascinating discussion with host Melina Palmer about books that have the power to change the way you think. As an avid reader herself, Melina shares her personal experiences with impactful books and how they have shaped her understanding of the mind. She presents a diverse list of nine books that have had a profound impact on her thinking, covering topics such as combinatorial thinking, binary thinking, innovation inspired by nature, the influence of metaphors, and more. With each book recommendation, Melina provides key insights and t...2023-11-2434 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsMelina’s Go-To Brainy Books: Behavioral Economics Books You Need To Read (Refreshed Episode)In this episode of The Brainy Business Podcast, you'll discover host Melina Palmer's favorite brainy books and why they're worth checking out. Melina begins by sharing how many listeners have reached out to her, thanking her for the book recommendations that have expanded their knowledge and understanding. She explains that as a behavioral economics enthusiast, she has the privilege of reading books before they hit the shelves and even getting to speak with the authors. Melina kicks off the episode by introducing her new series where she'll recommend books based on specific topics. She emphasizes the importance...2023-11-2122 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBoost Your Brand: The Power of Behavioral Economics in Peloton's Advertising (Refreshed Episode)In this episode of The Brainy Business podcast, host Melina Palmer dives into the fascinating world of behavioral economics and its application in Peloton's marketing success. As a marketing expert, Melina understands the importance of effective messaging and branding strategies, and she shares her insights on how Peloton has leveraged behavioral economics concepts to create a strong connection with their target audience. She explores the power of storytelling, community-building, and framing offers in a way that resonates with customers. Melina also discusses the impact of social proof, herding, and anchoring in Peloton's advertising and business strategies. If y...2023-11-0755 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsOvercoming the Focusing Illusion to Make Better Decisions (Refreshed Episode)Melina Palmer dives deep into the concept of the focusing illusion and its impact on our perceptions and decisions. Melina introduces the concept by explaining that the focusing illusion is a cognitive bias where we give disproportionate weight to one specific aspect of a situation while neglecting other factors that matter and may have a greater impact. This bias can lead us to make decisions based on a distorted view of reality. The discussion moves on to how the focusing illusion affects individuals and businesses alike. Melina shares examples such as people overestimating the impact of winning t...2023-10-1028 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnderstanding Time Discounting: Overcoming Procrastination and Achieving Goals (Refreshed Episode)Melina Palmer discusses the concept of time discounting, which she calls the "I'll Start Monday Effect." Time discounting refers to the tendency to value immediate benefits more than future benefits. This can lead to procrastination and difficulty in making long-term decisions. Melina explains how time discounting impacts individuals in various aspects of their lives, such as productivity, health, and finances. She also explores how businesses can use this concept to understand and influence consumer behavior. In this episode: Understand the often underestimated role of time discounting in shaping our decisions and influencing business outcomes. Acquaint yourself...2023-10-0348 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsOvercoming Speaking Anxiety: Matt Abrahams' Strategies for Confident CommunicationMatt Abrahams, a leading expert in communication and a lecturer at Stanford University's Graduate School of Business, shares valuable insights on improving communication skills in spontaneous situations on The Brainy Business podcast hosted by Melina Palmer. In this episode, Abrahams discusses key strategies from his book, Think Faster, Talk Smarter, which focuses on helping individuals feel more comfortable and confident in impromptu speaking scenarios. Abrahams draws from personal experiences and observations to develop his methodology. He highlights the challenges individuals face in speaking spontaneously and emphasizes the importance of confidence and commitment when responding. Through anecdotes and...2023-09-2842 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsGet Noticed: Powerful Strategies for Pitching Your Business (refreshed episode)A company’s success nowadays is so reliant upon pitching–whether you are looking to land a new client or get quoted in the media. Having a credible source say positive things about you and your company can be pivotal when it comes to whether your brand is going to be seen or not. That is exactly why this episode of The Brainy Business is dedicated to giving you some concise tips on how to use behavioral economics to pitch your brand. Pitching yourself can feel awkward, but when you understand the brain science it doesn’t have to be, es...2023-09-2634 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsAchieve More and Stress Less: Cultivating Success Habits for Work-Life Balance, with Marcey RaderIn this episode of The Brainy Business podcast, host Melina Palmer interviews Marcey Rader, author of the book Work Well, Play More. They delve into the importance of habits in achieving efficiency and work-life balance. Marcey shares her personal journey of making small, manageable changes in her life and emphasizes the need to focus on the behaviors underlying productivity. She highlights the value of breaking down goals into smaller tasks and tracking progress to stay motivated. The conversation also covers strategies for setting boundaries, prioritizing tasks, and incorporating movement into daily routines. Whether you're a busy professional...2023-09-1551 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsConfidently Designing Your Path: Expressing Your Worth in Act Two - Kate GigaxIn this episode of The Brainy Business podcast, host Melina Palmer interviews Kate Gigax, founder of Development Corps, to discuss the transition from “Act One” to “Act Two” in one's career and life. The conversation focuses on being confident in expressing what you want and the value you bring. Kate emphasizes the importance of finding time for oneself and engaging in self-reflection. She encourages listeners to break up their schedules and find small pockets of time for rejuvenation and self-discovery. Through personal examples, she demonstrates how taking risks and pursuing what feels out of the ordinary can lead to...2023-09-0856 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnlock Your Influence: Building a Powerful Leadership Platform with Andrea LearnedIn this episode of The Brainy Business podcast, Melina Palmer interviews Andrea Learned, a climate communications strategist and host of the Living Change Podcast, on the topic of building a leadership platform and personal brand for influence. Melina and Andrea discuss the importance of being authentic and engaging on social media to attract media attention and build trust with others. They emphasize the value of showcasing expertise and being seen doing the things you promote, as it builds credibility and inspires others to take similar actions. The conversation also highlights the power of aligning personal brand with...2023-09-0150 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsJerks At Work: How To Deal With Difficult Colleagues, with Tessa WestIn this episode of The Brainy Business podcast, host Melina Palmer is joined by Dr. Tessa West, a renowned expert in social psychology and communication. They dive deep into the topic of workplace jerks, exploring the different types of jerky behaviors that exist and providing valuable insights on how to address and prevent these behaviors. Throughout the conversation, Melina and Tessa discuss the complexities of workplace dynamics, highlighting the structural issues that enable jerky behaviors to flourish. They emphasize the importance of recognizing these underlying systems and structures, rather than only viewing jerky behaviors as isolated incidents caused by...2023-08-1843 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBiases At Work – How We React To Others And Groups (Refreshed Episode)It is common for organizations to say they want to remove all bias from their workplace or to become a completely unbiased organization. Unfortunately, that isn’t possible because our brains run on bias in order to make decisions. Instead of trying to eliminate bias, it is best to understand and work with it. When we know what tendencies the brain will try to use and when/where they come into play, there is an opportunity to reframe and turn those biases into an engine for moving forward. This episode from Melina Palmer is an introduction to th...2023-08-1538 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUsing Availability Bias to Generate Buzz (Refreshed Episode)Understanding cognitive biases can inform marketing and advertising strategies in businesses. Availability bias causes individuals to rely on immediate information, which is easily accessible, instead of thorough research. If it comes to mind easily, we think it is more true or likely than if it doesn't come to mind as easily. Of course, that isn't always the case. Availability bias can deeply influence decision-making processes both within a company and for its customers. For businesses, understanding this bias can provide pivotal insights about consumer behavior--one great way to use this, which host Melina Palmer discusses in detail throughout the...2023-08-0146 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsConquer Imposter Syndrome and Boost Confidence in Business (Refreshed Episode)Self-doubt can be a significant barrier to success in business, holding individuals back from pursuing opportunities or capitalizing on their strengths. Overcoming self-doubt requires anyone in business (especially entrepreneurs) to develop a positive mindset, embrace their expertise, and trust their instincts in decision-making. By actively combating self-doubt and harnessing confidence, entrepreneurs can overcome the obstacles holding them back, paving the way for professional and personal growth. Host Melina Palmer emphasizes the importance of overcoming self-doubt in the episode, offering practical advice for those grappling with imposter syndrome or a lack of confidence. She endorses the use of...2023-07-1830 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsBeyond Physical Contact: The Science of Visual and Emotional Touch (Refreshed Episode)In the context of business, the sense of touch plays a crucial role in building emotional connections with consumers and driving their purchasing behavior. Understanding and harnessing the power of touch can significantly improve the perceived quality of products and services, strengthening the brand image and fostering customer loyalty. By integrating touch into marketing and branding efforts, entrepreneurs can create a multisensory experience that has a lasting impact on their target audience. Melina Palmer emphasizes the importance of touch in business, discussing how it is directly connected to emotional language and can influence both our perceptions and a...2023-07-0437 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsJingles, Rhythm, and Beats: The Neuroscience of Branding Through Sound (Refreshed Episode)The ability to identify and interpret sounds is a vital aspect of human existence, shaping how individuals interact with the world around them. Sound can be both comforting and distracting, encompassing a wide spectrum of experiences. For this reason, understanding the impact of sound in marketing can be a game-changer, as it allows businesses to create more immersive experiences for customers and foster an emotional connection. Moreover, sound can help guide consumer behavior, enhancing their experience with a brand or product. Melina Palmer emphasizes the significance of sound on human emotions and interactions, and how it can...2023-06-2730 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics5 Years, 299 Episodes: Here Are Your FavoritesOn the eve of the 300th episode of The Brainy Business, it felt like the perfect time to do a “best of” episode from the first five years of the show (another milestone we are just a couple of weeks away from!). How do we find out the “top” content around here? Thankfully, I don’t have to choose (each episode is like one of my babies), and, we don’t even have to ask. You have been voting every day for the last five years as you have chosen which episodes to listen to. And, in these five ye...2023-06-2337 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Science of Smell: Creating Emotional Connections with Customers (Refreshed Episode)Incorporating the sense of smell in branding is an effective way to create emotional connections with customers. By utilizing scents that evoke positive memories and emotions, businesses can foster a sense of familiarity and trust, directly influencing consumers' perception of a brand's value. The appropriate application of scent marketing can significantly impact customer behavior and sales performance. Melina Palmer delves into the strategic use of scent in branding and shares examples of successful scent marketing in action. She discusses how a powerful scent can have surprising consequences on a consumer, with a personal story about Lush. Her insights provide...2023-06-2033 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsFraming: The Secret Weapon for Business Messaging Success (Refreshed Episode)In the context of business messaging, frames play a crucial role in shaping the way potential customers perceive products and services. Different frames can evoke distinct emotions or reactions, as well as influence the customers' decision-making process. When applied effectively, framing can make a product or service more appealing, inspiring curiosity and generating positive associations in the minds of potential buyers. Framing can also demonstrate the benefits and value provided by a particular offering, ultimately increasing the chances of conversion. In the podcast, Melina Palmer discusses the importance of framing in marketing and advertising. She emphasizes that t...2023-06-1349 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsUnderstand Mapping: Mastering Choice Architecture in BusinessIn the context of choice architecture, mapping involves organizing options to make them easily comprehensible and help customers make better decisions. By presenting choices in a simple and quick-to-understand manner, customers can avoid getting overwhelmed and make choices they are confident about. It is important, however, to carefully consider how options are presented, as offering too many choices can lead to confusion and regret. For the best results, businesses should strive to make options easy to compare and understand. Melina Palmer explains that mapping is a critical part of structuring complex choices, the "U" and "S" in N...2023-06-0650 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsA Surprise Guest...Today there is a very special interview taking place on the show, in that the person being interviewed is…me! And, no, it isn’t me asking myself questions. I guess that is kind of like every solo episode I’ve done or much weirder where I would speak about myself in the third person. The interviewer today is Michael Bartlett. He is the Director of Experience Innovation at JMARK and also trains people to pass the Certified Customer Experience Exam (CCXP). We got connected because he is hooked on books. As an avid book junkie, he reviews...2021-05-1442 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsThe Hype Handbook, an Interview with Author Michael F. ScheinDo you think that hyping up yourself or your business is a good thing, or does it feel a little shady to you? Join me in this episode of The Brainy Business as I interview Michael F. Schein, author of the book The Hype Handbook: 12 Indispensable Success Secrets from the World's Greatest Propagandists, Self-Promoters, Cult Leaders, Mischief Makers, and Boundary Breakers, who, among many other topics, discusses his take on that and how he personally believes hype to be a good thing. After Michael featured The Brainy Business in Psychology Today as the #1 psychology podcast that every...2021-03-1255 minThe Brainy Business | Understanding the Psychology of Why People Buy | Behavioral EconomicsMelina’s Go-To Brainy Books: Behavioral Economics Books You Need To ReadReading and research are some of my favorite things. (I’m guessing that doesn’t surprise you too much...especially if you’ve ever dug into the show notes for the podcast.) For this reason, I frequently get asked for my top book recommendations. While completing the citation list for my own book (which has over 210 citations by the way!) a few sources popped up often enough that it felt like a great time to do this episode. Plus, if you want to buy a brainy book this holiday season for a friend or loved one any of thes...2020-12-0419 min