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The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

Nov 21, 2023

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 of understanding what you want to achieve with the information before diving into her book recommendations.

In this episode, you will:

  • Discover the fascinating world of behavioral economics and how it influences our decision-making processes.
  • Gain valuable insights into the foundations of behavioral economics and how it can be applied to different areas of life.
  • Learn about the power of nudges and choice architecture in shaping our behavior and decision-making.
  • Explore the intersection of neuroscience, marketing, and branding to understand how our brains respond to promotional messages.
  • Discover effective strategies for increasing productivity and minimizing distractions in an increasingly distracting world.

Show Notes:

00:00:00 - Introduction,
Melina introduces the episode and mentions how she often gets asked for book recommendations. She also mentions that this episode is the first in a series of book recommendations and asks for feedback from listeners.

00:03:00 - Daniel Kahneman's Thinking, Fast and Slow,
Melina recommends Daniel Kahneman's Thinking, Fast and Slow as a foundational book in the field of behavioral economics. She describes it as a comprehensive guide to understanding behavioral science and highlights its importance for anyone interested in the field.

00:06:30 - Richard Thaler and Cass Sunstein's Nudge,
Melina recommends Richard Thaler and Cass Sunstein's book Nudge as another foundational book in behavioral economics. She explains that it provides a great foundation in the concept of nudges and choice architecture, and shares examples related to money, health, and freedom.

00:09:42 - Dan Ariely's Predictably Irrational,
Melina recommends Dan Ariely's Predictably Irrational as an introductory book to behavioral economics. She praises Ariely's conversational tone and relatable storytelling, making it an easy and enjoyable read for those interested in understanding the hidden forces that shape our decisions.

00:11:28 - A. K. Pradeep's The Buying Brain,
Melina recommends A. K. Pradeep's "The Buying Brain" for those interested in consumer mindset, marketing strategy, and applying behavioral insights.

00:16:09 - Overview of Indistractable Book,
Melina provides an overview of the book Indistractable and highlights its importance in understanding motivation, triggers, and focus. She explores tips for preventing distractions, making workplaces and relationships indistractable, and offers practical advice for hacking back external triggers.

00:16:51 - Hacking Back External Triggers,
Part three of the book is discussed, focusing on hacking back external triggers such as notifications and interruptions. The chapter provides specific tips for managing work interruptions, email, group chat, meetings, smartphones, and online distractions. The information is actionable and easy to implement.

00:17:27 - Reducing Notifications,
Melina shares personal experience of using the author's tips to reduce notifications, resulting in increased productivity. Removing push notifications for social media and email, except for text messages and phone calls, has made a significant difference. The book offers insights into understanding the brain and facilitates making behavioral shifts.

00:18:21 - Understanding Distraction and Traction,
The section emphasizes the core insight of the book: distraction is the opposite of traction. It highlights the importance of identifying what distractions are pulling us away from and finding our traction. The book provides guidance on staying focused on what truly matters.

00:19:20 -  Conclusion,
Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.

Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show. 

I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.

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