Want to make better decisions? In this episode, we are talking with Dr. Maya Shankar, behavioral scientist and podcast host. Maya is currently the Senior Director of Behavioral Economics at Google and is the Creator, Host, and Executive Producer of “A Slight Change of Plans”, a podcast with Pushkin Industries. Maya previously served as a Senior Advisor in the Obama White House, where she founded and served as Chair of the White House's Behavioural Science Team — a team of scientists charged with improving public policy using research insights about human behavior. In 2016, Maya served as the first Behavioural Science Advisor to the United Nations.
Maya completed a post-doctoral fellowship in cognitive neuroscience at Stanford, after receiving a Ph.D. from Oxford on a Rhodes Scholarship and a B.A. from Yale in cognitive science. She has been profiled by the New Yorker and has been featured in the New York Times, Scientific American, Forbes, and on NPR's All Things Considered, Freakonomics, and Hidden Brain.
In this episode, we discuss Maya’s childhood as a violin prodigy, how she became a student at Juilliard’s pre-college program, and her career journey. We’ll also talk about Maya’s job at the White House, some common behavioural scientist concepts like the Sunk Cost Fallacy and Nudging, and how we, as humans, can make more realistic decisions.
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🌟 Follow Dr. Maya Shankar 🌟
➡️ Podcast, A Slight Change of Plans: https://mayashankar.com/podcast
➡️ Website: https://mayashankar.com/
🌟Episode Highlights🌟
00:00 - YAP Intro
00:43 - Maya's Childhood and Hand injury
03:59 - How Maya got into Julliard
06:44 - Maya's lessons as a pro violinist
09:14 - What is Behavioural and Cognitive Science
19:57 - The Suncoast Fallacy
23:19 - When is it time to move on?
25:05 - Maya's Journey in Obama's White House
32:57 - What is Nudging?
45:42 - How to make realistic decisions?
49:08 - The Peak End Rule
49:41 - The IKEA Effect
50:14 - Maya's Podcast
54:30 - Maya's Secret to Profiting in Life
🌟 QUOTES 🌟:
00:01 - "Sometimes the change that we will, that we encourage in our lives. Doesn't actually have the positive impact, we think it will."
10:54 - "But when you learn about the mind, you'll feel like you're crushing it all the time. You'll be in total awe of what our minds are capable of."
24:53 - "Perseverance and trying to build self-confidence at those critical junctures that ultimately can lead you to surprise."
35:57 - "An insight in behavioral science called the Endowment Effect, which basically says we value things more when we own them, or in this case, have earned them."
40:11 - "We often attach our identities to our values and our opinions and our beliefs, and we feel a lot of cognitive dissonance when it comes to challenging these deeply entrenched views that we have about the world."
40:25 - "In many ways, when we challenge, our own minds, we're challenging our sense of selves."
40:51 - "I think one thing I've learned from all of the research and behavioral science is that people don't make up their minds just based on the facts, just based on evidence. They make up their minds based on what their communities believe in value."
47:07 - "We assign disproportionate weight to the most emotionally intense moment of the experience and at the end of the experience."
53:36 - "We need to have humility there and be mindful and observant and audit our experiences to make sure it's having the intended impact."
53:48 - "Sometimes the changes that we dread that are unexpected and undesired can have silver linings that make us better people in our lives."
You’re watching Young and Profiting Podcast on Youtube, a place where you can Listen, Learn, and Profit. Welcome to the show. I’m your host, Hala Taha.
On Young and Profiting Podcast, we investigate a new topic each week and interview some of the brightest minds in the world.
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