Shows
Choiceology with Katy MilkmanLittle Bits of Happiness: With Guests Sally Millington & Ellen EversWere you the kind of kid who devoured all your Halloween candy in one sitting—or savored it daily until, somehow, it was Easter? And when it comes to bad news, do you prefer it all at once or with some time in between? Turns out, the way we bundle or separate life's highs and lows can influence our happiness. In this episode of Choiceology with Katy Milkman, we consider a mental accounting trick that can help maximize joy and minimize pain. You'll hear from Sally Millington of York, U.K., who set out to try 5...2025-06-0228 min
PGA Drive for Show, DFS for DoughPGA Drive For Show, DFS For Dough - Charles Schwab ChallengeOur PGA gurus are here to break down the field for the Charles Schwab Challenge! Join Justin Van Zuiden (stlcardinals84) and Derek Farnsworth (Notorious) for Drive for Show, DFS for Dough, your first look at this week’s PGA DFS slate Hosted on Acast. See acast.com/privacy for more information.2025-05-2132 min
FanDuel Research PodcastsPGA Best Bets and DFS Picks for the Charles Schwab Challenge at Colonial Country ClubFresh off his dominant win at the PGA Championship, Scottie Scheffler is the runaway favorite for this week's Charles Schwab Challenge. Can anybody push Scheffler for the win? FanDuel Research's Brandon Gdula and Jim Sannes preview the event, discussing the keys to Colonial Country Club, their favorite bets at FanDuel Sportsbook (37:39), and the top DFS plays of the week (59:10).2025-05-201h 12
On InvestingShould the Fed Focus on Inflation or Unemployment?Kathy Jones and Collin Martin discuss the recent Federal Reserve meeting, the implications of their decisions on interest rates, and the current economic landscape. They delve into the risks of stagflation, market reactions, and the dynamics of the corporate and municipal bond markets. The discussion emphasizes the importance of focusing on income and yield in the bond market amid volatility and uncertainty.Finally, Kathy and Liz Ann discuss the data and economic indicators they will be watching in the coming week.On Investing is an original podcast from Charles Schwab. For more on the show, v...2025-05-0934 min
Choiceology with Katy MilkmanHooked on Streaks: With Guests Chloë Hamilton & Jackie SilvermanStreaks have long been logged in the world of sports. And for tracking habits, like daily writing. But now apps encourage us to keep streaks going for just about anything. Messaging friends, learning new languages, meditating, exercising, you name it. In this episode of Choiceology with Katy Milkman, we explore the motivational power of streaks. And we look at ways to alleviate the demotivating effects of breaking a streak. We speak with journalist Chloë Hamilton, who wrote a story for The Guardian about how a daily ritual can enrich your life or become an unhealthy obse...2025-05-0531 min
Choiceology with Katy MilkmanObstacle Illusions: With Guests Daniella McCahey & Tom GilovichFirst-born children tend to believe that their parents were harder on them than their siblings are willing to grant. Football fans take disproportionate note of the challenging games on their team's schedules. We're wired to interpret our challenges as bigger than our advantages, even if the reality is more balanced.In this episode of Choiceology with Katy Milkman, we consider our tendency to focus more attention on our negative or challenging experiences than on our positive or easy ones. This asymmetry also appears in how we remember the lives and experiences of other people. Daniella Mc...2025-04-2130 minOn InvestingTrends in the Labor Market & More Tariffs (With Nela Richardson)In this episode, Kathy Jones and Liz Ann Sonders discuss the latest round of tariffs issued by the Trump administration—and how they might impact the economy going forward. Then, Kathy sits down with Dr. Nela Richardson, the chief economist of ADP Research. They discuss the role of ADP in providing payroll services and employment data. They also cover the current trends in the labor market, the impact of immigration, and the demographic changes affecting the economy. They explore the dynamics of the manufacturing sector, the implications of AI on the future of work, and the importance of s...2025-04-0441 minOn InvestingRecent Questions From InvestorsIn this episode, Kathy Jones and Liz Ann Sonders review some of the recent questions they have received from investors. Their questions and answers focus on the current economic landscape and cover topics ranging from bond yields to the impact of tariffs to the Federal Reserve's stance to the performance of key indexes and stocks. They explore the complexities of government debt, the dollar's reserve status, and the ongoing debate between growth and value stocks, providing insights into what investors should watch moving forward.Check out schwab.com/FAQs to see more frequently asked questions and whether a...2025-03-0734 minOn InvestingHeadwinds & Tailwinds in the Housing Market (With Ivy Zelman)Kathy Jones and Liz Ann Sonders discuss the recent drawdown in markets and debate whether this is a growth scare or something more lasting in the bond market.What's the housing market outlook for 2025? Liz Ann Sonders interviews noted housing market expert Ivy Zelman, executive vice president and co-founder of Zelman & Associates. Ivy reflects on the unique economic cycle that has emerged since the pandemic, particularly its impact on the housing market. She highlights the significant migration trends, supply and demand dynamics, and the challenges of affordability. The discussion also touches on the role of pu...2025-02-2839 minOn InvestingBeyond Market Cap: Fundamental Indexing Explained (With Rob Arnott)In this episode, Liz Ann Sonders and Kathy Jones discuss this week’s FOMC meeting and the market reactions. Then, Liz Ann speaks with Rob Arnott, founder and chairman of the board of Research Affiliates®. They discuss some of the advanced approaches of Research Affiliates, particularly focusing on the Research Affiliates Fundamental Index® (RAFI) and its implications for growth and value investing. They explore the differences between traditional indexing methods and RAFI, the challenges of forecasting market returns, and the potential for paradigm shifts in finance. The discussion emphasizes the importance of understanding market dynamics and the nuanc...2025-01-3141 minOn InvestingClimate Shocks & the Muni Bond MarketIn this conversation, Kathy Jones and Cooper Howard discuss the impact of climate shocks, particularly wildfires in Los Angeles, on the municipal bond market. They explore the risks associated with California municipal bonds, the financial implications for issuers, and the broader trends in climate-related events. Cooper emphasizes the importance of diversification for investors to mitigate potential risks and highlights the increasing frequency of climate shocks over the years. The discussion also touches on the role of federal assistance in managing the aftermath of such events. You can read more from Cooper Howard about municipal bonds, including the po...2025-01-1721 minOn InvestingDoes the Resilient Economy Equal a Higher Potential Growth Rate?In the first episode of 2025, Liz Ann Sonders, Schwab's chief investment strategist, and Kathy Jones, Schwab's chief fixed income strategist, discuss the overall economic outlook for 2025 and take stock of where the markets are right now. The conversation focuses on fixed income and bond market dynamics, Fed policy, and the relative performance of equities. Liz Ann and Kathy reflect on the economy's resilience and growth potential, while also addressing the upcoming economic indicators and market sentiment. The conversation highlights the importance of understanding market concentration risks and the implications of bond yields on stock prices.On Investing...2025-01-1023 minOn InvestingUncertainty Around Future PolicyIn this week's episode, Liz Ann Sonders, Schwab's chief investment strategist, and Kathy Jones, Schwab's chief fixed income strategist, discuss the current economic landscape, focusing on policy changes in Washington, the implications of tariffs and immigration reform on inflation, and the Federal Reserve's potential moves at their next meeting. They explore the dynamics of the housing market, the uncertainty businesses face due to fluctuating policies, and the impact of global events on market reactions. The discussion concludes with reflections on gratitude and collaboration within their teams.On Investing is an original podcast from Charles Schwab. For more...2024-11-2216 min
Choiceology with Katy MilkmanA Hero's Journey: With Guests Ethan Gilsdorf, David Fajgenbaum & Kurt GrayLuke Skywalker, Frodo Baggins, Katniss Everdeen, the main characters of many great stories, they all have one thing in common: the shape of their journey. From answering the call to adventure, to undergoing tests of character and strengths, to triumphantly returning home forever changed. It's a classic narrative structure that's inspired countless tales from ancient myths to modern media. But it's not just great for entertainment. In this episode of Choiceology with Katy Milkman, we look at how this specific type of storytelling can be leveraged to make your life more manageable, exciting, and meaningful. Wri...2024-10-2139 minOn InvestingUnder-the-Surface Employment Indicators to Watch (With Doug Ramsey)In this episode, Kathy and Liz Ann open by discussing the implications of the recent rate cut by the Federal Reserve, focusing on the labor market and upcoming economic indicators. They explore how the rate cut may affect various economic sectors, including borrowing rates and consumer spending. They also highlight the importance of under-the-surface labor market data in predicting future Fed actions.Liz Ann Sonders, Schwab's Chief Investment Strategist, interviews Doug Ramsey, Chief Investment Officer of the Leuthold Group. They discuss the implications of the Federal Reserve's easing cycle on the economy, focusing on labor market dynamics...2024-09-2738 min
Choiceology with Katy MilkmanThe Truth Is Out There: With Guests Tania Lombrozo & Toby BallYour car breaks down. Must be because you skipped an oil change last month. Or your favorite team loses. Well, that was because of a bad call by a corrupt referee. In reality, many events involve multiple contributing factors. But we tend to gravitate toward single causes. In this episode of Choiceology with Katy Milkman, we look at our desire to explain things simply, even when the truth may be more complex.Where unidentified flying objects are concerned, there is rarely a simple answer. They'd be identified flying objects otherwise. So in the absence of co...2024-09-0931 minOn InvestingRecent Market Volatility & the Role of Fixed IncomeKathy and Liz Ann catch up on recent market volatility, the Fed's next move, and changes in the economic data. There is some debate about whether the Fed should cut by 50 basis points in September or the expected 25 basis points. They also touch on the importance of inflation, the labor market, and global growth in the Fed's decision-making process. Next, Kathy is joined by Matt Hastings, managing director and head of Bond Index Strategies for Schwab Asset Management. He leads the portfolio management team for the Schwab taxable bond mutual funds and Schwab fixed income ETFs and h...2024-08-1634 min
Choiceology with Katy MilkmanTo Fight Another Day: With Guests Alex Imas & Mary StockwellWhen you're facing loss—say, in a board game or during a sporting event or with a declining stock—it can be difficult to remember your true tolerance for risk. You're likely to seek risk more than you normally would.In this episode of Choiceology with Katy Milkman, we look at a tendency to seek risk in the face of losses when those losses aren't yet finalized, but how chalking up those losses and moving on can actually help you recalibrate your appetite for risk.During the American Revolutionary War, George Washington and his generals often...2024-06-0335 minOn InvestingActive Patience: What It's Like to Run an Investment Firm (with Mellody Hobson)In this episode, Liz Ann Sonders sits down with Ariel Investments co-CEO Mellody Hobson. They discuss Mellody's early career at Ariel, her co-CEO relationship with John Rogers, the importance of being an active and patient investor, the value of sitting on corporate boards, and the launch of Project Black, Ariel's private equity fund. They also touch on global trends, the dominance of growth stocks, and the challenges and opportunities for minority-owned businesses.Finally, Kathy and Liz Ann offer their outlook on what investors should be watching in next week's economic data and indicators.On Investing...2024-05-3143 minPGA Drive for Show, DFS for DoughPGA Drive For Show, DFS For Dough: Charles Schwab Challenge_Our PGA gurus are here to break down the field for the Charles Schwab Challenge. Join Justin Van Zuiden (stlcardinals84) and Derek Farnsworth (Notorious) for the Drive for Show, DFS for Dough show, your first look at this week's PGA DFS slate._ Learn more about your ad choices. Visit podcastchoices.com/adchoices Hosted on Acast. See acast.com/privacy for more information.2024-05-2229 min
FanDuel Research PodcastsThe Heat Check: PGA Charles Schwab Challenge 2024Scottie Scheffler is a massive favorite for this week's Charles Schwab Challenge. Can we justify betting Scheffler at FanDuel Sportsbook, or can we find value elsewhere? FanDuel Research's Brandon Gdula and Jim Sannes preview the event, discussing their view of Scheffler, their favorite bets at FanDuel Sportsbook (32:16), and the top DFS plays on FanDuel (48:19).2024-05-211h 05
Choiceology with Katy MilkmanChoiceology's Guide to Better Decisions: With Guests James Korris, Carey Morewedge & Jack SollOver the years, Choiceology has offered a lot of advice for making better decisions. In this special episode of Choiceology with Katy Milkman, we bring you the story of a video game that is surprisingly effective at reducing decision errors, and you'll hear about a practical checklist for improving choices in many different contexts.Solving fictitious mysteries might sound like fun and games, but the video game MISSING: The Pursuit of Terry Hughes was designed with a serious purpose in mind: to help intelligence analysts avoid decision-making traps. In 2015, James Korris and Carey Morewedge worked together to de...2024-05-2031 minOn InvestingThe Power of Compounding & the Definition of "Rich" (With Scott Galloway)In this episode, Liz Ann Sonders and Kathy Jones discuss the latest CPI data and the impact for investors. Then, Liz Ann interviews NYU Professor Scott Galloway about his latest book and discusses the importance of financial literacy and strategies for achieving economic security. Galloway shares personal anecdotes and insights on topics such as the power of compounding, the definition of "rich," and the role of upbringing on one's relationship with money. He emphasizes the need for discipline, the value of time, and the rewards of building wealth with a partner. The conversation highlights the role of money as...2024-05-1745 minOn InvestingHow Innovation Drives Growth: A Conversation With Chuck SchwabIn this episode, Liz Ann Sonders sits down with Chuck Schwab, founder of Charles Schwab & Co. They discuss how the company was founded, Chuck's decision to cut commissions on trades, how innovation plays a crucial role in driving growth in the economy, and how investing allows individuals to participate in the growth of the country.You can watch the new documentary film they mention, Chuck, for free on YouTube.Chuck is the story of Charles Schwab: a man with a vision that would end up changing Wall Street forever. In the new documentary by Oscar-winning...2024-05-1031 minOn InvestingWhat You Need to Know About Asset Allocation (With Sébastien Page)In this episode, Liz Ann Sonders and Kathy Jones analyze the state of the markets and discuss the current expectations around the Fed's potential rate cuts. Sébastien Page, chief investment officer at T. Rowe Price, joins the podcast to discuss his work on asset allocation and the correlation between stocks and bonds. He emphasizes the importance of understanding asset allocation and the role of liquidity in driving the markets and the economy. Page also shares his views on the stock market and the need for financial literacy. Finally, Kathy and Liz Ann offer their outl...2024-04-2633 min
Choiceology with Katy MilkmanRecipe for Success: With Guests Simon Rogan & Michele GelfandAre rules made to be followed—or meant to be broken? Often, the answer will depend on culture and the context in which people make decisions. In this episode of Choiceology with Katy Milkman, we look at how carefully people in different contexts follow social norms, rules, and procedures. We'll also see how strict and relaxed cultures affect the quality of our decisions—and how to find the sweet spot depending on your goals.Professional kitchens have historically been challenging work environments: high standards, long hours with low pay, and a strong hierarchy of cook...2024-04-2234 minOn InvestingWith Stubborn Inflation, What Should the Fed's Target Be? (With David Beckworth)In this episode, Liz Ann Sonders and Kathy Jones analyze the March 2024 CPI data and its impact on the bond markets and Fed policy. CPI came in higher than expected, with significant increases in housing, clothing, and transportation services, probably closing the door on a June rate cut, as the Fed will likely have to be patient and wait for the numbers to improve. Then, Kathy interviews David Beckworth. They discuss the concept of nominal GDP targeting as an alternative approach to monetary policy. He explains that instead of targeting the price level or inflation, nominal GDP t...2024-04-1240 min
Choiceology with Katy MilkmanTake the Deal! With Guests Daniel Kahneman, Colin Camerer & Luis Green (Rebroadcast)In this episode of Choiceology with Katy Milkman, we look at how framing a decision based on what you stand to lose versus what you stand to gain affects your tolerance of risk.Luis Green was a contestant on the popular TV game show Deal or No Deal. The game is largely one of chance, but there are moments during play where the contestant has an option to accept a cash offer to quit. At one point in the game, Luis was offered $333,000 to simply walk away. A guaranteed win! It seems like an obvious choice. But a...2024-04-0844 minOn InvestingWhat's It Like to Be a Financial Journalist? (With Dion Rabouin)How do you find reliable information about the markets and the economy? It's one thing for individual investors to struggle with financial jargon and context, but what about professionals? In this episode, Kathy Jones interviews Wall Street Journal reporter Dion Rabouin. They discuss Dion's background and his path to becoming a journalist, his transition to different media formats, current topics in the economy and markets, and how he works to find reliable sources and seek out additional information and context. Dion shares his experiences and insights as a journalist and provides tips for investors on how to a...2024-04-0538 minOn InvestingIs the Market Still Climbing the Wall of Worry? (With Dr. Ed Yardeni)In this conversation, Liz Ann Sonders interviews Dr. Ed Yardeni, president of Yardeni Research. They discuss this unique economic cycle and the concept of rolling recessions. Ed explains his optimism in the face of widespread pessimism about an impending recession. Yardeni also introduces the idea of "Postmodern Monetary Theory" and its impact on the economy. He emphasizes the importance of the labor market, employment numbers, and consumer spending in preventing recessions. Yardeni discusses the role of productivity and artificial intelligence in shaping the future economy and he highlights concerns about market sentiment and potential risks, such as geopolitical crises...2024-03-2946 min
Choiceology with Katy MilkmanTop of Mind: With Guests John Farrell & Manasvini SinghWhen someone asks, "What's your favorite restaurant?" odds are you're inclined to recommend a place you've eaten at recently—even if it's not really your favorite. It's just top of mind. Why do we weigh recent events so heavily? And how does this tendency impact important decisions, like whom to vote for or how to conduct medical procedures? In this episode of Choiceology with Katy Milkman, we look at a phenomenon that can cause us to overweight recent events compared to earlier events and make suboptimal decisions. The 1968 presidential election was one of...2024-03-2532 min
Choiceology with Katy MilkmanRepeat After Me: With Guests Jennifer LeMesurier & Tali SharotVitamin C is a cure for the common cold. Bats are blind. Sugar makes children hyperactive.All of these statements are false. So why are they so pervasive? And why do they feel so true?In this episode of Choiceology with Katy Milkman, we look at a phenomenon that can cause us to believe inaccurate information more than we should, and also lead us to trust reliable information less than we should.If you’re over a certain age, you might remember friends or family panicking about MSG, or monosodium glutamate, particularly in Ame...2024-03-1134 minOn InvestingSector Views: Our Stock Sector OutlookLiz Ann Sonders and Kevin Gordon discuss the evaluation of various sectors of the economy and the relaunch of Schwab Sector Views, which provides perspective and ratings on the 11 sectors of the S&P 500. The new version of Sector Views incorporates a quantitative and qualitative approach, using factors such as growth, quality, sentiment, stability, and valuation to determine sector rankings. The ratings are based on a 6-to-12-month time horizon. Currently, the outperform sectors are energy, financials, and materials, while real estate and consumer discretionary are underperforming. Kevin emphasizes the importance of considering concentration risk and using sector views...2024-03-0826 minOn InvestingThe State of the Post-Pandemic Retail Market (With Matthew Shay)In this conversation, Kathy and Liz Ann discuss the current state of market sentiment, underlying trends in the fixed income market and yield demand, and the disconnect between investors' attitudes and behavior. Then, Liz Ann interviews Matthew Shay, CEO of the National Retail Federation (NRF). The retail landscape in the United States has undergone significant challenges since the pandemic four years ago. Matthew Shay and Liz Ann discuss some of the supply-chain factors affecting retail sales, organized theft, and consumer spending. Shay goes on to explain the opportunities available to retailers as they adopt AI in back-end so...2024-03-0138 minOn InvestingUnderstanding Corporate Bond Analysis (With Winnie Cisar)In this episode, Kathy Jones and Liz Ann Sonders discuss some of the latest questions they are hearing from investors.Corporate bonds have received extra attention lately due to their higher yields. Will that streak continue? Collin Martin joins Kathy Jones for a conversation with Winnie Cisar from CreditSights. They discuss the role of corporate bonds and how credit ratings work. They cover topics such as the role of credit analysts, factors supporting corporate bonds, concerns about low spreads in the market, attractive and worrisome sectors, the role of private credit, and recommended reading and listening materials...2024-02-2340 minOn InvestingWhat Matters in Corporate Real Estate (With Al Rabil)How did the latest inflation numbers affect the stock market and Treasury yields? In this episode, Kathy Jones and Liz Ann Sonders discuss why the CPI report showed higher-than-expected numbers, and they cover the economic indicators impacting future Fed rate cuts.Liz Ann Sonders next interviews Kayne Anderson CEO Al Rabil about the state of the corporate real estate market. They discuss office occupancy rates and the demand for corporate debt, as well as the regional banks' exposure to corporate real estate credit. Al discusses the buy-versus-sell decision and the impact of potential interest rate cuts in...2024-02-1634 minOn InvestingWhat Matters in Residential Real Estate (With Dolly and Jenny Lenz)In this episode, Kathy Jones and Liz Ann Sonders discuss the latest signaling from the Fed and how companies have fared during earnings season.Then, Liz Ann is joined by real estate professionals Dolly Lenz and Jenny Lenz. They share insights into Dolly's start in the business and her journey to becoming a renowned real estate professional. They also discuss the changes in the residential real estate landscape over the years, including the impact of the pandemic on buyer preferences and the shift away from big cities. The conversation covers topics such as office occupancy, mortgage rates...2024-02-0943 minOn InvestingHow Do Muni Bond Credit Ratings Work?In this episode, Kathy and Liz Ann discuss the latest Fed meeting and how companies have fared during earnings season.Then, Kathy is joined by Cooper Howard and special guest Jane Ridley of S&P Global. Their conversation explores credit-rating agencies and the municipal bond market. They discuss the role of rating agencies in assessing the ability of issuers to repay debt, the importance of credit ratings for investors, and the factors considered in developing ratings. They also explain the differences between general obligation bonds and revenue bonds, the frequency of rating updates, and the impact of...2024-02-0234 minOn InvestingWhat Can the Sahm Rule Tell Us About the Economy?In this episode, Schwab's Chief Fixed Income Strategist Kathy Jones interviews former Fed economist Claudia Sahm. And Schwab's Chief Investment Strategist Liz Ann Sonders discusses the December jobs report with Kevin Gordon. Liz Ann and Kevin look at the differences between the numbers in the household survey and the establishment survey—and how this data will affect the fight against inflation, among other topics. You can see the charts they mention in this article: Mixed Signals: December's Jobs Report.Kathy and Claudia discuss the Sahm rule, which is an indicator of a recession, and its purpose in pr...2024-01-1255 minOn InvestingWhere's the Economy Headed: Soft Landing or Recession?In this episode, Kathy Jones and Liz Ann Sonders discuss their outlooks for 2024 in light of recent events and share what investors should be watching for in the next few weeks. Liz Ann also interviews Keith McCullough, founder and CEO of Hedgeye Risk Management. Keith explains the evolution of hedge funds and how he views the changing investment landscape. He emphasizes the importance of transparency and accountability in investing and explains his unique approach to financial markets, which he calls "quantimental." McCullough also shares his insights on market cycles and the current economic outlook, including the possibility o...2023-12-2238 minOn InvestingMarket Outlook: What's in Store for 2024?After a tumultuous year for the markets, what's in store for 2024? In this year-end episode, Schwab experts look ahead to consider what investors might expect from the markets in the new year.First, Liz Ann Sonders, Schwab's chief investment strategist, speaks with senior investment strategist Kevin Gordon. Liz Ann offers her perspective on the direction of the U.S. economy and stock market. She and Kevin discuss inflation, interest rates, company earnings, and the job market, among other topics.Next, Kathy Jones, Schwab's chief fixed income strategist interviews her colleagues Collin Martin and Cooper Howard. K...2023-12-081h 03On InvestingThe View from Washington D.C.In this episode of On Investing, hosts Liz Ann Sonders and Kathy Jones welcome Mike Townsend to the show. Mike is Schwab's managing director of legislative and regulatory affairs in Washington D.C. He is also the host of Schwab's WashingtonWise podcast, which explores the intersection between policy, politics, the markets, and the economy. He shares his thoughts on the 2024 election cycle, the likelihood of a government shutdown, and the state of the federal budget deficit and government debt.Kathy and Liz Ann also give an update on what they are keeping an eye on next week in...2023-11-1027 minOn InvestingFrequently Asked Questions from InvestorsIn this episode of On Investing, hosts Liz Ann Sonders and Kathy Jones recap the previous week and dig into a list of frequently asked questions from investors. They cover questions such as "What's the next move for the Fed?" and "Is a recession coming or not?" among others.Kathy and Liz Ann also give an update on what they are keeping an eye on next week in the markets.Liz Ann Sonders is Schwab's chief investment strategist. She's regularly quoted in financial publications including The Wall Street Journal, The New York Times, Barron's, and the...2023-11-0336 minOn InvestingOur Philosophy and What Matters in the MarketsIn the first episode of Schwab's new podcast, On Investing, hosts Liz Ann Sonders and Kathy Jones introduce each other and explain what matters to them as they analyze the equity and bond markets. They also discuss the current market cycle and what the broader picture might tell us. Liz Ann Sonders is Schwab's chief investment strategist. She's regularly quoted in financial publications including The Wall Street Journal, The New York Times, Barron's,and the Financial Times.She also appears asa regular guest on CNBC, Bloomberg, CNN, Yahoo! Finance, and Fox Business News. Liz Ann has b...2023-10-2733 min
Choiceology with Katy MilkmanA Sticky Situation: With Guests Richard Thaler, Wendy Wood & Susan BudowskiFilling out an overly complicated form or waiting on hold for hours to speak with a customer service rep is a frustrating experience. And sometimes it seems like the process itself is designed to be difficult.In this episode of Choiceology with Katy Milkman, we look at how friction––time, distance, complexity, or anything that gets in the way of your goals—can contribute to what Nobel Prize–winning economist Richard Thaler calls "sludge." A young couple walks into a theme park and they are offered a gift card. The only catch is that they have to w...2023-10-2337 minOn InvestingIntroducing On InvestingEach week On Investing hosts Liz Ann Sonders, Schwab's chief investment strategist, and Kathy Jones, Schwab's chief fixed income strategist, analyze the financial headlines and bring context to all the conversations around equities, fixed income, the economy, and more.Join Kathy, Liz Ann, and their guests, as they share insights on what's moving the markets and why, as well as the indicators they are watching for signs of change.They'll also answer investor questions on everything from which sectors are on the move, to what the bond markets are telling us, to where to look...2023-10-1201 min
Choiceology with Katy MilkmanJumping to Conclusions: With Guests David Silbey & Ned AugenblickA train was speeding along the tracks in 19th-century England when a passenger suddenly started smashing windows and waving a pistol in the air. People believed his actions were caused by what was, at the time, a new and unfamiliar form of transportation. Doctors posited the rattling motion and noise of trains could cause passengers to act erratically, creating the short-lived but popular myth of "railway madness."In this episode of Choiceology with Katy Milkman, we look at how people often overreact to poor quality or incomplete information.A sudden explosion in 1889 ripped apart the...2023-10-0937 min
Choiceology with Katy MilkmanNo Mean Feat: With Guests Albert Chen & Elizabeth TiptonIt’s halftime at a basketball game. A kid nervously steps onto center court. If he can score a basket from center court, he’ll take home the prize money. He tells the announcer that he plays on his elementary school team and that he has been practicing for this moment. The crowd holds their breath as the ball sails through the air, hits the backboard … and goes in. The stadium erupts in excitement. Could he be the next Michael Jordan? In this episode of Choiceology with Katy Milkman, we look at how extraordinary performances can mislead people...2023-09-2533 min
Choiceology with Katy MilkmanA Cup of Knowledge: With Guests A.J. Jacobs & Steven SlomanWhy do ocean waves move the way they do? How does a toaster work? How might ink flow through a ballpoint pen without the help of gravity? You may know the answer to these questions, but explaining them in detail could reveal an unexpected truth.In this episode of Choiceology with Katy Milkman, we look at why people think they understand things better than they actually do.The idea started at the dinner table. One of A.J. Jacobs’ kids presented him with a seemingly simple task—thank the people who made his cup of coff...2023-09-1130 min
Choiceology with Katy MilkmanThe Golden Misfits: With Guests Gary Lawless & Erika KirgiosWhat is the difference between buying groceries for the whole week versus grabbing something to eat on the way home each day? Grouping choices together so that you make a bunch of selections all at once can seem daunting, but it can actually help you reach your goals faster.In this episode of Choiceology with Katy Milkman, we look at how taking a bird's eye view on a series of selections can help create better results overall.Most sports teams take years to establish themselves as contenders. But sometimes, a brand-new team is able to...2023-08-2833 min
Choiceology with Katy MilkmanAn Accidental Experiment: With Guests Steven Levitt, Solomon Ezra & Stephen SpectorScientifically sound, randomized experiments can be expensive and difficult to run. But there’s an alternative: It turns out that certain real-life situations can also generate useful scientific data. The trick is finding them.In this episode of Choiceology with Katy Milkman, we look at how events outside of our control can create opportunities for so-called natural or accidental experiments. The organizers of a heroic airlift transporting thousands of Ethiopian Jews to Israel broke the record for the flight with the most passengers. It was 1994, and the clock was ticking for Israeli intelligence per...2023-08-1432 min
Schwab Market Update AudioStocks Slip Ahead of CPIThe major benchmarks ended near four-week lows as investors waited for July inflation readings later this week.Important DisclosuresInformation on this site is for general informational purposes only and should not be considered individualized recommendations or personalized investment advice. The type of securities and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction for his or her own particular situation. All expressions of opinion are subject to change without notice in reaction to shifting market, economic and geo-political conditions.Data contained herein from third-party...2023-08-0906 minSchwab Market Update AudioCredit Downgrade Pressures StocksThe major benchmarks briefly touched four-week lows after Moody's lowered its credit ratings on several U.S. banks.Important DisclosuresInformation on this site is for general informational purposes only and should not be considered individualized recommendations or personalized investment advice. The type of securities and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction for his or her own particular situation. All expressions of opinion are subject to change without notice in reaction to shifting market, economic and geo-political conditions.Data contained herein from...2023-08-0806 minSchwab Market Update AudioStocks Start Week With a BounceThe major indexes recovered modestly from last week's losses as investors awaited monthly inflation readings later this week.Important DisclosuresInformation on this site is for general informational purposes only and should not be considered individualized recommendations or personalized investment advice. The type of securities and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction for his or her own particular situation. All expressions of opinion are subject to change without notice in reaction to shifting market, economic and geo-political conditions.Data contained herein from...2023-08-0703 minSchwab Market Update AudioStocks Fall After Jobs ReportThe U.S. economy added fewer jobs than expected, but wage growth was still on the strong side.Important DisclosuresInformation on this site is for general informational purposes only and should not be considered individualized recommendations or personalized investment advice. The type of securities and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction for his or her own particular situation. All expressions of opinion are subject to change without notice in reaction to shifting market, economic and geo-political conditions.Data contained herein from...2023-08-0407 min
Choiceology with Katy MilkmanThe Superforecasters: With Guests Leon Panetta, Peter Bergen & Barbara MellersThere are moments in life where it seems as though everything is riding on one important decision. If only we had a crystal ball to see the future, we could make those decisions with greater confidence. Fortune-telling aside, there are actually methods to improve our predictions—and our decisions.In this episode of Choiceology with Katy Milkman, we look at what makes some people “superforecasters.” In 2010, the United States government had been looking for Al Qaeda leader and perpetrator of the 9/11 attacks, Osama bin Laden, for nearly a decade. Years of intelligence gathering all over the wor...2023-06-0537 min
FanDuel Research PodcastsThe Heat Check: PGA Charles Schwab Challenge 2023Scottie Scheffler is a heavy favorite this week entering the Charles Schwab Challenge. Which golfers are best positioned to challenge Scheffler for the win? numberFire's Brandon Gdula and Jim Sannes preview the event, discussing their favorite non-Scheffler options, roster construction, and the top golfers in each salary tier on FanDuel.2023-05-231h 09PGA Drive for Show, DFS for DoughPGA Drive For Show, DFS For Dough: Charles Schwab ChallengeOur PGA Gurus are here to break down the field for the Charles Schwab Challenge! Join Justin Van Zuiden (Stlcardinals84) and Derek Farnsworth (Notorious) for the Drive for Show, DFS for Dough show, your first look at this week's PGA DFS tournament!#PGA #DFS #FanDuel #draftkings We've got the best advice from the top DFS experts for DraftKings and FanDuel! Use this link to get your RotoGrinders Premium DFS subscription at a discount! $10 off your first month! - https://rotogrinders.com/media/grindersliveYou can also join the RG Discord for F...2023-05-2332 min
Choiceology with Katy MilkmanSurvey Says: With Guests W. Joseph Campbell & Emily OsterIf you ran a survey at a science fiction convention to find out which movies were most popular with the general public, chances are good that the results would lean heavily towards sci-fi films. This skewing of data is plain to see in this context, but in many others it’s less obvious and potentially more pernicious.In this episode of Choiceology with Katy Milkman, we look at a bias that can distort information that we gather from the world around us.First, W. Joseph Campbell tells the story of the infamous Literary Digest election pol...2023-05-2229 min
Choiceology with Katy Milkman(BONUS) From Ripple Effect: Does Diversity Training Work? with Katy MilkmanOn this special bonus episode of Choiceology with Katy Milkman, we highlight Ripple Effect, a new podcast from the Wharton School of the University of Pennsylvania. Hosted by Dan Loney, Ripple Effect showcases research by Wharton faculty and shares what their insights mean for you.As part of a series on women and work, this episode of Ripple Effect features Choiceology host and Wharton professor Katy Milkman. After years of conducting research on gender bias in the workplace, Katy has reached a singular conclusion: Systemic change is necessary to create long-lasting progress towards diversity, equity, and inclusion. Sh...2023-05-0831 min
Choiceology with Katy MilkmanBrave on the Waves: With Guests Bianca Valenti & Katherine CoffmanWe all make decisions involving risk. Decisions like trying out for your school’s chess team, speaking up when you don’t agree with your boss, or going down a double-black-diamond run at the end of a long day of skiing. So how do we determine which risks are worth taking and which ones are too … risky?In this episode of Choiceology with Katy Milkman, we look at gender differences around confidence and uncertainty, and how we can all better calibrate our bravado.Surfing waves as tall as apartment buildings takes a lot of strength and sk...2023-04-2432 min
Choiceology with Katy MilkmanFan Fictions: With Guests Hannah Sung, Crystal Tai & Anuj ShahFinding a new favorite celebrity feels a little bit like falling in love. Perhaps you find their smile endearing, or you relate to their sense of humor. Maybe you see things in your everyday routine that remind you of them. You feel like you know them so well. But whether it’s a star athlete or a Hollywood type, the reality is they likely have no idea who you are. In this episode of Choiceology with Katy Milkman, we explore how we can develop deep connections with complete strangers — and how that in turn makes us feel more...2023-04-1030 min
Choiceology with Katy MilkmanThe Beanie Bandwagon: With Guests Robert Cialdini & Yemisi BrookesMullets. Skinny jeans. Crocs. Many of us can recall trends that we've jumped on, only to see those trends become passé soon after. But the fear of missing out can snowball into heavier consequences.In this episode of Choiceology with Katy Milkman, we look at how speculation and rapidly growing trends, however niche, can cloud people's judgment. A tight knit group of friends in Chicago start buying stuffed animals from a little-known toymaker, called Ty Warner, for their kids. The friends' enthusiasm for the toys is contagious, and soon the demand for these cute stuffed an...2023-03-2731 min
Choiceology with Katy MilkmanThe Power of Do-Overs: With Guests Jeff Ryan & Marissa SharifWhen you fail to reach a challenging goal, say, saving a certain amount of money each month or getting to the gym a certain number of times a week, it can be tempting to just give up on the plan entirely. But new research shows that building some flexibility into that plan can actually improve your chances of success.In this episode of Choiceology with Katy Milkman, we look at how mulligans, skip days, cheat meals, and get-out-of-jail free cards are important strategies for sticking to your long-term goals.In the era of pinball and...2023-03-1325 min
Choiceology with Katy MilkmanMesmerized: With Guests Mara Rockliff & John ListIt seems like every other week there's a news report about how coffee will help you live longer or will shorten your life. There are similar reports about vitamins and water consumption and any number of other health-related studies. So why do we see so much conflicting information around scientific research in the media? In this episode of Choiceology with Katy Milkman, a look at the slippery problem of separating correlation from causation.You'll hear the fascinating story of Franz Mesmer and the apparently miraculous effects of what he dubbed animal magnetism. Author Mara Rockliff r...2022-11-0735 min
Choiceology with Katy MilkmanThe Bad with the Good: With Guests Uzma Khan & Gustav KällstrandYou've probably caught yourself indulging after a workout or a game or a stretch of healthy eating. Maybe it was a pint or two after a soccer game or an extra piece of cheesecake after a vigorous hike. These indulgences are easier to justify after a healthy activity. Ironically, though, these indulgences can undo some of your hard work. So why do we tend to behave this way? In this episode of Choiceology withKaty Milkman, a look at how we justify our decisions based on previous behavior.Alfred Nobel was a very successful inventor and b...2022-10-2430 min
Choiceology with Katy MilkmanRebroadcast: Silver Linings: With Guests Annie Duke, Kassia St. Clair & Adam GrantIf you’ve ever lost a job, or been through a breakup, or failed an exam, you’ll know that the aftermath can be painful and disorienting. But for some percentage of those who experience these disappointing outcomes, unforeseen opportunities will arise.In this episode of Choiceology with Katy Milkman, we look at the occasional upside of being forced to quit a career, or a relationship, or even a favorite route to work.Kassia St. Clair brings us the story of William Henry Perkin. As a young man in 19th-century London, Perkin had set his sigh...2022-10-1039 min
Choiceology with Katy MilkmanSo Much in Common: With Guests Samantha Futerman, Anaïs Bordier & Kareem HaggagWhen we feel angry or excited, or happy or sad, the reasons for those emotions may seem obvious. Angry? It was that argument with a spouse. Excited? It was that promotion at work. Happy? Must've been that delicious meal. Sad? It was that tearjerker film, for sure. But it turns out that we often mistake the root causes of our feelings and other experiences.In this episode of Choiceology with Katy Milkman, we look at a family of biases that affects the way we understand behaviors, events, and emotions.Samantha Futerman and Anaïs Bordier g...2022-09-2633 min
Choiceology with Katy MilkmanHow You Spend It: With Guests Joshua Fields Millburn & Cassie Mogilner Holmes“Life, liberty, and the pursuit of happiness.” A quintessentially American phrase from the Declaration of Independence. That “pursuit of happiness” takes many forms, but it turns out that some approaches are more likely to be successful, according to science. In this episode of Choiceology with Katy Milkman, we look at a way to frame how you spend your time and money that may help you lead a happier life.Joshua Fields Millburn was hungry for success. Despite a difficult childhood, he was determined to make it big. He worked long hours, took little time off, and rapid...2022-09-1231 min
Choiceology with Katy MilkmanNot by a Long Shot: With Guests Katia Jordan & Craig FoxHumans can easily distinguish between a zero-chance event (e.g., the Washington Nationals winning the World Series in 2022) and a sure thing (e.g., the sun coming up tomorrow). But in between those two clear outcomes, it turns out that we’re not great at estimating odds.In this episode of Choiceology with Katy Milkman, a bias that affects the way we predict the likelihood of rare events.Katia Jordan had all the makings of a tennis star: a preternatural talent, an intense drive to succeed, top-tier coaches, and parents who supported her dream completely. Sh...2022-08-2933 min
Choiceology with Katy MilkmanFail Better: With Guests Joseph Herscher & Lauren Eskreis-WinklerYou hear it a lot in contemporary education, the tech world, and the arts: that it's important to fail, to make mistakes so that you can learn from them and get better at whatever you do. But that generally accepted wisdom is incomplete.In this episode of Choiceology with Katy Milkman, we look at how failure can cloud your ability to learn and to improve.Joseph Herscher is creator of the wildly successful YouTube channel Joseph's Machines. He builds intricate and whimsical contraptions that perform simple tasks in overly complicated ways. You may know them...2022-08-1532 min
Business BreakdownsCharles Schwab: The 8 Trillion Dollar GorillaThis is Matt Reustle and today we are breaking down the financial institution known as Charles Schwab. Schwab is a financial behemoth. They report over $8 trillion in assets under custody and a market cap scratching $120 billion but I think the most fascinating part about this breakdown is the strategic pivot taken by Schwab. While the online brokerage market has been decimated in recent years from fee compression, Schwab has been pivoting their business model to that of a traditional bank. Now what does that mean? Today, Schwab makes the majority of their money earning interest on customer cash deposits. 2022-07-201h 07
The Cut LinePGA Championship Recap/ Charles Schwab Challenge PreviewThe Cut Line team review a huge week at the PGA Championship where Justin Thomas claimed his second major before looking ahead to this weeks Charles Schwab Challenge and the stacked field in attendance2022-05-2546 min
FanDuel Research PodcastsThe Heat Check: PGA Charles Schwab Challenge 2022The PGA Tour wraps up its Texas swing with this week's Charles Schwab Challenge. Which golfers should we build around within our DFS lineups? numberFire's Brandon Gdula and Jim Sannes preview the event, discussing golfers with plus history at Colonial Country Club, a couple under-salaried mid-range and value plays, and much more.2022-05-241h 10
PGA Drive for Show, DFS for DoughPGA Drive For Show, DFS For Dough: Charles Schwab ChallengeOur PGA Gurus are here to break down the field for the upcoming Charles Schwab Challenge! Justin Van Zuiden (Stlcardinals84) is joined by Derek Farnsworth (Notorious) for the Drive for Show, DFS for Dough show, your first look at this week's PGA DFS tournament!#PGA #DFS #FanDuel #DraftKings Learn more about your ad choices. Visit podcastchoices.com/adchoices Hosted on Acast. See acast.com/privacy for more information.2022-05-2442 min
Choiceology with Katy MilkmanOut of Proportion: With Guests Damon Lesmeister & Kelly ShueMany of the decisions we make require us to compare numbers. Which car is most fuel efficient? How is a stock performing relative to the market? How risky is one medication versus another? A problem arises when we fail to make these comparisons in the right units.In this episode of Choiceology with Katy Milkman, we look at the mistakes we make when we overweight absolute numbers and neglect their relative value.Damon Lesmeister is a wildlife biologist in Oregon who studies a very special bird: the northern spotted owl. This iconic animal is struggling...2022-05-0933 min
Choiceology with Katy MilkmanChoiceology's Guide to NudgesNudges are all around you. They might help you choose your meal at a restaurant, navigate a busy airport terminal, or start saving for the future. But nudges are often subtle, so you might not notice them until they’re pointed out. In this episode of Choiceology with Katy Milkman, we’re doing things a little differently. This episode is your guide to the many ways nudges have changed the world for the better. We'll revisit examples of nudges you may recognize from previous episodes of Choiceology. UCLA professor Shlomo Benartzi explains why defaults help more p...2022-04-2539 min
Choiceology with Katy MilkmanSecond-Guessing First Impressions: With Guests Allen Sarven & Richard NisbettDon’t shoot the messenger is a metaphorical phrase for blaming the bearer of bad news. It’s easy to be angry with someone who is associated with information you don’t want to hear–say, a doctor delivering an unwelcome diagnosis, or a manager who has to fire you due to budget issues beyond her control. The phrase also points to a tendency we all have to overweight someone’s personality or disposition (that person who fired me is a jerk) and underweight the situation (sales were down this year, and they can’t afford current staffing levels).In this...2022-03-2832 min
Choiceology with Katy MilkmanLess Is More: With Guests Ryan McFarland & Gabrielle AdamsSupply chain issues and income inequality notwithstanding, we live in an age of abundance. Our closets overflow with clothing. Many children have more toys than they could possibly enjoy. Garages are filled with sporting gear. Offices are cluttered with gadgets. And even our calendars are packed with meetings and tasks. It can all be a bit much. In this episode of Choiceology with Katy Milkman, we look at a bias that leads us to add to our collections and to-do lists but neglect to remove unnecessary or unhelpful items.We begin with the charming story o...2022-03-1434 min
Choiceology with Katy MilkmanThe Power of Negative Thinking: With Guests Annie Duke, Mike Richard & Kelvin WuAnticipating and planning for obstacles can sometimes be more powerful than adopting a positive mindset.A positive attitude is important when embarking on any new endeavor. However, as you may have heard in previous episodes of Choiceology with Katy Milkman, overoptimism also can blind you to important information.In this episode, we look at a strategy that can help counteract the effects of overoptimism and overconfidence. You could call it the power of negative thinking.We begin with the amazing story of a lake in Louisiana that completely disappeared in a matter of h...2021-10-2531 min
Choiceology with Katy MilkmanThe Good Fight: With Guests Adam Grant & Tom CrouchMost of us would prefer to avoid an argument at work or at home. But there are times when arguments—at least when they’re civil—can help surface important information for decision-making. In this episode of Choiceology with Katy Milkman, we look at situations where certain types of conflict can actually lead to better outcomes.You’re probably familiar with the story of Orville and Wilbur Wright. The Wright brothers secured their place in history by achieving the world’s first sustained flight of a powered, heavier-than-air aircraft at Kitty Hawk, North Carolina, in December of...2021-10-1131 min
Choiceology with Katy MilkmanWhat’s the Big Idea? With Guests Robert Rydell & Don MooreWhen young children imagine their future lives, they’re often very optimistic. They’ll say things like “I’m going to be an astronaut!” or “When I grow up, I want to be a movie star!” These outcomes are, of course, quite rare. Most children will grow into slightly less exotic careers as adults. But even as adults, we tend toward personal optimism. We assume that we will outlive the average person, that we will remain in better health than the average person, and that our children will be above average in school or in sports. Of course, we can’t all be a...2021-09-1336 min
Choiceology with Katy MilkmanBig Goals, Little Steps: With Guests Shannon Miller & Hal HershfieldMost people wouldn’t attempt a marathon or a climb up Mount Everest without first working through some less audacious objectives. And yet there are countless examples of ambitious goals—new businesses, academic degrees, career changes, athletic feats—that were abandoned because they appeared too daunting in scope.In this episode of Choiceology with Katy Milkman, we look at a simple strategy that can make your biggest goals more manageable.Shannon Miller is one of the most decorated athletes in the history of gymnastics. She is a seven-time Olympic medalist, and two-time inductee into the US Oly...2021-08-1636 min
Choiceology with Katy MilkmanScientist Mode: With Guests Adam Grant & Luca ParmitanoImportant decisions can be complex and difficult to make. We’re at the mercy of certain behavioral biases, and we often face a degree of uncertainty. And while it’s helpful to be aware of our shortcomings and mindful of our incomplete picture of the world, there is a proven way to make better decisions, on balance. In this episode of Choiceology with Katy Milkman, we look at how questioning our basic assumptions and thinking like a scientist can help us untangle the knottiest of problems and make choices with greater confidence.Luca Parmitano was the fi...2021-06-0734 minThe Cut Line#95 Charles Schwab ChallengeLefty is back! The crew are up and about after an incredible PGA Championship victory from Phil Mickleson. They review all the drama before looking forward to this week's Charles Schwab Challenge, give their bets and touch on the big beef in the golfing world.2021-05-2651 min
PGA Drive for Show, DFS for DoughPGA Drive for Show, DFS for Dough: Charles Schwab ChallengeOur PGA Gurus are here to break down the field for the Charles Schwab Challenge this weekend! Justin Van Zuiden is joined by Derek Farnsworth and Tyler Tamboline for the Drive for Show, DFS for Dough show, your first look at this week's PGA DFS tournament! Join us live each Tuesday at 8:30pm ET for a chance to win free RG Premium!#PGA #DFS #FanDuel #DraftKings #rotogrinders Learn more about your ad choices. Visit podcastchoices.com/adchoices Hosted on Acast. See acast.com/privacy for more information.2021-05-2641 min
Choiceology with Katy MilkmanSilver Linings: With Guests Annie Duke, Kassia St. Clair & Adam GrantIf you’ve ever lost a job, or been through a breakup, or failed an exam, you’ll know that the aftermath can be painful and disorienting. But for some percentage of those who experience these disappointing outcomes, unforeseen opportunities will arise.In this episode of Choiceology with Katy Milkman, we look at the occasional upside of being forced to quit a career, or a relationship, or even a favorite route to work.Kassia St. Clair brings us the story of William Henry Perkin. As a young man in 19th-century London, Perkin had set his sigh...2021-05-1038 min
Choiceology with Katy MilkmanHold That Thought: With Guests Sarah-Louise Miller, Warren Reed, Todd Rogers & Angela DuckworthYou probably have a list of reminders somewhere. Maybe you have a calendar with important dates marked. And likely a mental to-do list. And shopping lists. And gift ideas. And you’ve got to remember to get your taxes filed. And don’t forget to get those prescriptions filled before the drug store closes. And you’ve got to renew your insurance, and …There’s a lot of information to juggle in modern life. In this episode of Choiceology with Katy Milkman, we look at ways to improve reminders and reduce forgetting around things like voting, vaccinations, and interna...2021-04-2636 min
Choiceology with Katy MilkmanIn the Face of Risk: With Guests Jeff Elison & Ido ErevFor many, the onset of the coronavirus pandemic was terrifying. Descriptions of the outbreak in Europe and Asia led to panic buying and sheltering in place here at home. But, as time passed and people became acclimatized to life with masks and social distancing, many of those same people who were terrified at the outset began to let their guard down and take unnecessary risks.In this episode of Choiceology with Katy Milkman, we look at a peculiar inconsistency around how we perceive risk and rare events.Jeff Elison is a professor and an avid...2021-04-1235 min
Choiceology with Katy MilkmanMindful of Mindsets: With Guests Erik Vance & Alia CrumHave you ever visited your doctor to deal with a minor health issue and then left the office with nothing more than the doctor’s calming reassurance? Chances are good that you felt a bit better, physically, just by virtue of experiencing the environment of the clinic and anticipating some kind of improvement in your health.In this episode of Choiceology with Katy Milkman, we explore how your beliefs and expectations can have a very real impact on your health and well-being.Science journalist Erik Vance vividly recounts several peculiar experiences taking part in traditional he...2021-03-2935 min
Choiceology with Katy MilkmanFair Is Fair: With Guests John Thorn & Richard Thaler“Mom! Janey got more ice cream than me! Not fair!” For kids—and many adults—the notion of what’s fair or not often involves comparing quantities of some valuable thing. But there’s another, more nuanced concept of fairness that crops up in certain types of negotiations. In this episode of Choiceology with Katy Milkman, we look at what people perceive as fair or not amid changing circumstances.At the turn of the 20th century, professional baseball had entered what came to be known as the dead-ball era. Pitchers had a distinct advantage over batters, resu...2020-08-3133 minThe Cut Line#50 Charles Schwab ChallengeNick, Paul and Karl preview the Charles Schwab Challenge2020-06-1123 min
Choiceology with Katy MilkmanCoping Amid the Crisis: With Guest Laurie SantosAn unprecedented global health crisis has overwhelmed healthcare systems, disrupted economies and financial markets, and radically altered our daily lives. And while social distancing is the responsible thing to do to slow the spread of disease, it also heightens the emotional challenges we face during these scary and uncertain times.In this special bonus episode of Choiceology with Katy Milkman, we look to the science of happiness to see how we might mitigate the adverse impacts to our mental health and well-being—and maybe even cultivate good new habits that can help us when the crisis is ov...2020-04-0639 min
Choiceology with Katy MilkmanThe Simple Choice: With Guests Shlomo Benartzi & Eric SinkWe are inundated with decisions in the modern world. What to wear, what to buy, what to watch, where to work, what to eat, who to call, where to live, what to study, when to exercise, how much to save, etc. And every decision, no matter how small, requires mental effort. But when a particular option is suggested to us ahead of time, the cognitive load is much smaller.In this episode of Choiceology with Katy Milkman, we explore the subtle power of default options.We begin with a simple experiment, offering free hot chocolate...2020-03-3035 min
Choiceology with Katy MilkmanThe Lucky Loonie: With Guests Peter Jordan, Trent Evans & Don MooreThere’s something satisfying about the close door button in an elevator, especially when you’re in a rush. However, it turns out that most of those close door buttons aren’t actually connected to anything; they have no effect. So why are they there?In this episode of Choiceology with Katy Milkman, we explore a quirk in the way people understand their ability to influence certain events.The 2002 Winter Olympics in Salt Lake City were a watershed moment for the Canadian men’s and women’s hockey teams. The men’s team hadn’t won a gold med...2019-09-0932 min
Choiceology with Katy MilkmanBoxed In: With Guests Sophie Morgan, Modupe Akinola & Dolly ChughAssuming you live in the northern hemisphere, which would you say is colder: a day in March or a Day in April? On average, of course, March is colder than April, but there’s probably not a big difference in temperature between March 31 and April 1. If you’re like most people, though, you put March days in the colder March category and April days in the warmer April category. It’s a useful shortcut, but it doesn’t always give you the best information about the temperature on individual days.
This tendency to quickly categorize time, objects and peop...2019-05-1333 min
Choiceology with Katy MilkmanKnew It All Along: With Guests Kathleen Vohs, Douglas Porch & Julian JacksonThink about a time when something happened that just seemed meant to be. Maybe you had a feeling that your child would get into a certain college. Perhaps you just knew that your partner would forget to pack something important for your vacation. The question is, did you really know it along?
In this episode of Choiceology with Katy Milkman, we explore a tendency to be overconfident in our predictions about events that have already come to pass.
We begin with the story of the fall of France. In the early days of World War...2019-04-2932 min
Choiceology with Katy MilkmanNo Harm, No Foul? With Guests Francesca Gino & Dr. Byers “Bud” ShawIt makes some intuitive sense to judge a decision based on its results. But is it always true that a good decision leads to a good outcome, and vice versa?
In this episode of Choiceology with Katy Milkman, we look at a bias that can lead to errors in the way we judge our decision-making processes.
Katy brings you a story about the challenging early days of organ transplant surgery. Dr. Byers “Bud” Shaw arrived in Pittsburgh in 1981 to work under transplant pioneer Dr. Thomas Starzl. At the time, liver transplants were often unsuccessful, and some...2019-04-1535 min
Choiceology with Katy MilkmanHappiness: With Guests Scott Harrison & Mike NortonIn this episode of Choiceology with Katy Milkman, we examine an old insight about happiness and giving. It’s an insight that is now backed up by behavioral science.
The episode begins with a scene from the Charles Dickens classic A Christmas Carol. From there we hear from the founder and CEO of Charity: Water, Scott Harrison. When Scott turned 18, he moved to New York City and got a job as a nightclub promoter. He lived a hedonistic lifestyle that included private jets and exotic parties. He should have been on top of the world, but he wa...2018-12-1029 min
Choiceology with Katy MilkmanIntroducing Season 2 of ChoiceologySeason 2 of Choiceology is coming soon! Dan Heath hands the reins over to new host Katy Milkman for this season. Katy brings an incredible depth of knowledge to the show through her work as a professor of Operations, Information & Decisions at The Wharton School. You’ll hear from sports stars, Nobel laureates and everyday people making life-altering choices, and Katy will share useful tools and strategies to improve decision making in your own life. Subscribe for free today on Apple Podcasts, Google Podcasts or wherever you listen. Season 2 launches October 29.
Choiceology is an original podcast from Charles Sc...2018-10-1504 min