How exponential growth bias influences long-term decisions and how financial advisors can help clients understand the impact.How the order of options being presented and the way they’re described impact decisions.
The influence of sorting on what people choose.How choice architecture can help people find the right choice.The impact of default choices and what influences them.Factors impacting the effort required to make a decision.The impact of recent events on decision-making.Advice for making important decisions.The plausible path: what it is and how we choose it.How design choices impact our decisions.The hidden partner that accompanies us when we make decisions.Johnson and this week’s topic: financial decision-making. Tune in to discover how to minimize the influence of the choice architect and take charge of your decisions! Eric shares his philosophy on free will and shares advice for making important decisions and guiding clients to find the right choice as a financial advisor. In this episode, we learn about the various factors that impact not only decision-making but the effort required to make a decision. Eric is a decision science expert and the author of the book, The Elements of Choice: Why the Way We Decide Matters. Johnson to discuss choice architecture and its role in financial decision-making. The decisions we make may be further out of our control than we’d like to imagine. He has co-authored two books: Decision Research: A Field Guide, published by Sage Publications and The Adaptive Decision-Maker published by Cambridge University Press, and has just released The Elements of Choice: Why the Way we Decide Matters. His research has been published in the Science, Psychological Review, Psychological Science, Nature Neuroscience, Harvard Business Review, the Journal of Economic Theory, and many other consumer, economic, marketing and psychology journals. Johnson’s research and comments have appeared in The New York Times, The Wall Street Journal, Money, Discover, Business Week and The Financial Times, and on The CBS Evening News and National Public Radio. His research examines the interface between Behavioral Decision Research, Economics and the decisions made by consumers, managers, and their implications for public policy, markets and marketing. Eric Johnson is a faculty member at the Columbia Business School at Columbia University where he is the inaugural holder of the Norman Eig Chair of Business, and Director of the Center for Decision Sciences.
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