From stocks to fitness to video games, real-time performance data is available everywhere these days. Seeing desirable upward trends feels amazing. But when there's a drop, it can feel like the world is ending. In this episode of Choiceology with Katy Milkman , we explore what happens when we judge performance too much in the short term. Cora Kennedy takes us inside the world of collegiate esports, where constant performance data shapes how players think and compete—including Cora herself. We al...
May 18, 2026•26 min•Season 17Ep. 5
Imagine you're cleaning out your grandmother's attic when you notice a floorboard that doesn't quite sit right. You pry it up—and find $10,000 hidden beneath it. It's a startling discovery, but also a window into another way of thinking about money. Your grandmother was likely part of a generation that lived through hard financial times—a depression, unemployment—and saved for a rainy day, even when times became good. In this episode of Choiceology with Katy Milkman , we're looking at how major ...
May 04, 2026•31 min•Season 17Ep. 4
Ranked lists are everywhere—top hospitals, best colleges, must-visit cities. A single number can influence what we notice, what we value, and the decisions we make. Yet behind these rankings are hidden assumptions, and they don't always reflect what matters most to you. In this episode of Choiceology with Katy Milkman , we explore how rankings shape attention, guide choices, and subtly steer behavior. Shriya Boppana shares how rankings shaped one of the biggest decisions of her life—and, years l...
Apr 20, 2026•33 min•Season 17Ep. 3
Have you ever bought a pair of shoes that never really fit, but you kept wearing them in hopes you’d break them in? All because you didn’t want to feel your money had gone to waste—even as you felt blisters forming? In this episode of Choiceology with Katy Milkman , we explore how focusing on past, irrecoverable costs can skew our judgment and future commitments. Bill Kolb takes us inside the Evergreen Aviation & Space Museum in McMinnville, Oregon. He shares the story of “ The Spruce Goose ...
Apr 06, 2026•36 min•Season 17Ep. 2
Every day, we face choices that could change outcomes in business, health, or life itself. Increasingly, computers are offering guidance. What happens when that advice clashes with human intuition? In this episode of Choiceology with Katy Milkman , we explore the high-stakes friction between human intuition and algorithmic guidance. Dean Oliver, a data scientist at ESPN and author of Basketball on Paper and Basketball Beyond Paper , tells the story of the 2008 Boston Celtics. Facing a crossroads...
Mar 23, 2026•36 min•Season 17Ep. 1
It's a new season of Choiceology , an original podcast from Charles Schwab. Each episode tells true stories involving high-stakes moments and explores the latest research to help you make better judgments and avoid costly mistakes. This season, we go underground to one of the most dramatic mining rescues in history and step onto the court during a pivotal Boston Celtics roster shakeup. We hear from leading researchers in psychology and behavioral economics, such as Richard Thaler, Amy Edmondson,...
Mar 09, 2026•2 min
As a special addition to this week's episode, you can see Katy's full sit-down interview with Angela Duckworth, where they also explore the relationship between self-control and grit. Watch or listen to their conversation on YouTube or Spotify . When your emotions flare or temptation calls, what does it take to hold back? Whether it’s resisting the urge to lash out or the pull of short-term pleasure in favor of long-term goals, self-control can be one of the hardest—and most important—skills we ...
Oct 20, 2025•34 min•Season 16Ep. 6
In this bonus addition of Choiceology, Katy Milkman sits down with psychologist and Grit author Dr. Angela Duckworth , a leading expert on self-control. She breaks down what science tells us about managing impulses, why willpower by itself falls short, and how simple environmental tweaks and practical strategies can help anyone delay gratification and make smarter choices. Katy and Angela's conversation is featured in the Choiceology episode "Playing the Long Game: The Power of Self-Control," no...
Oct 20, 2025•34 min
Most of us label ourselves early on as academic (or not), athletic (or not), or talented (or not). But even if you feel like you're lacking in natural talent or ability in certain areas, approaching new skills or challenges with openness, effort, and curiosity can take you farther than you might expect. In this episode of Choiceology with Katy Milkman , we look at the stories we tell ourselves about our abilities—and how to create conditions that can shape our trajectories for growth and achieve...
Oct 06, 2025•35 min•Season 16Ep. 5
If you've ever gotten well into a project—maybe a DIY renovation—and then realized that you've taken the wrong approach, you probably know that it's very tempting to just stay the course. Starting all over again would be so painful, even if starting over is clearly the best option. Or maybe you've taken a wrong turn on a hike and only noticed it a mile later. You know the dread of going back. Even if turning around is the smartest option, there's a strong pull to just keep moving forward. In thi...
Sep 22, 2025•38 min•Season 16Ep. 4
What makes an effective team? Talent? Skill? Discipline? In this episode of Choiceology with Katy Milkman , we're looking at some of the more surprising ingredients of successful teams, according to science. Teams where the whole is greater than the sum of its parts. You'll hear the story of the Kon-Tiki expedition—a harrowing journey across the Pacific Ocean led by Norwegian explorer Thor Heyerdahl. A journey made by a small band of adventurers who set out to understand ancient human migration....
Sep 08, 2025•43 min•Season 16Ep. 3
We've all been there. Maybe you fumbled a line in a presentation. Or tripped on a shoelace. Or suffered a bad hair day. It can feel like the whole world is watching you—and judging you—in those embarrassing moments. But are people paying as much attention to you as you think? In this episode of Choiceology with Katy Milkman , we explore why we tend to blow our own missteps out of proportion. We go behind the scenes of some of the most consequential speeches of World War II. Speeches given by a m...
Aug 25, 2025•37 min•Season 16Ep. 2
You've probably been in situations where multiple friends recommend the same product. It must be great, if everyone is talking about it, right? But then you find out that those friends had all just seen the same product on a popular TV show. What seemed like independent recommendations really came from a single source. In this episode of Choiceology with Katy Milkman , we consider the consequences of missing out on the true source of information when we're exposed to that information through mul...
Aug 11, 2025•29 min•Season 16Ep. 1
It's a new season of Choiceology, an original podcast from Charles Schwab. New episodes arrive every two weeks, so please follow us in your favorite podcasting app. Important Disclosures The comments, views, and opinions expressed in the podcast are those of the speakers and do not necessarily represent the views of Charles Schwab. Data contained herein from third party providers is obtained from what are considered reliable source. However, its accuracy, completeness or reliability cannot be gu...
Jul 28, 2025•2 min
Were 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 s...
Jun 02, 2025•28 min•Season 15Ep. 6
Would you pay more for a car with 29,999 miles than one with 30,000? The answer should be no—it's a negligible difference, after all—but research shows that people often do pay more than they should for cars that are just short of certain odometer thresholds. In this episode of Choiceology with Katy Milkman , we look at why a price or an age or a test score that falls just under a round number has an outsized impact on our decisions. We hear from Melina Palmer , author of The Truth About Pricing...
May 19, 2025•33 min•Season 15Ep. 5
Streaks 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 Gua...
May 05, 2025•31 min•Season 15Ep. 4
First-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. Thi...
Apr 21, 2025•31 min•Season 15Ep. 3
Is it ever possible to see the world objectively, as it is? Turn on the news, open social media, engage with that family member at Thanksgiving, and it appears to some the answer is yes. But what if our biggest blind spot is thinking we don't have a blind spot? In this episode of Choiceology with Katy Milkman , we look at how we can easily be fooled into believing that our subjective experience of the world is objective, and believing that anyone who disagrees with us must be biased or wrong. We...
Apr 07, 2025•38 min•Season 15Ep. 2
Workplaces often rely on numerical ratings for performance reviews. Election debates focus on poll numbers and approval ratings. Your watch counts your steps in a day. Numbers increasingly influence our decisions. In this episode of Choiceology with Katy Milkman , we look at our very human tendency to fixate on digits even when words or graphs represent the very same information. Stephen M. Colbert writes about movies and the film industry and shares the heated story of when the DC Extended Univ...
Mar 24, 2025•30 min•Season 15Ep. 1
It’s a new season of Choiceology, an original podcast from Charles Schwab. New episodes arrive every two weeks, so please follow us in your favorite podcasting app. Important Disclosures The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab. Data contained herein from third party providers is obtained from what are considered reliable source. However, its accuracy, completeness or reliability cannot ...
Mar 10, 2025•2 min
Luke 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...
Oct 21, 2024•40 min•Season 14Ep. 6
Most parents encounter resistance from their children. Perhaps when the kids are young and turning their noses up at vegetables, or when they're teenagers and balking at curfews or dress codes. So what's the best way to encourage good choices in the face of a rebellious kid? Or a rebellious adult, for that matter? In this episode of Choiceology with Katy Milkman , we look at the surprising ways that resistance to authority can be leveraged for positive change. During the mid 1990s, the "Truth" a...
Oct 07, 2024•36 min•Season 14Ep. 5
Do you recall the best concert you ever went to? Best trip? Best meal? Chances are good that a few memories come to mind—maybe not every detail of the event, but perhaps a couple great moments. It can go the opposite way, too. Worst travel experience. Worst date. Our memory works in snapshots of particular parts of our experience. In this episode of Choiceology with Katy Milkman , we look at a predictable distortion in the way people remember experiences. And we’re doing it in part to honor a ve...
Sep 23, 2024•38 min•Season 14Ep. 4
Your 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...
Sep 09, 2024•32 min•Season 14Ep. 3
In this episode of Choiceology with Katy Milkman , we look at the often-misunderstood and surprisingly common Dunning-Kruger effect with an interview featuring one of the researchers who first identified it, David Dunning. But we start with the story of Cecilia Jimenez , the humble Spanish grandmother and amateur landscape painter who took it upon herself to restore a fresco in her local church. The results made international headlines—and briefly made Ceclia Jimenez a household name—for all the...
Aug 26, 2024•28 min•Season 14Ep. 2
Pursuing a goal alone is convenient. Whether you're training for a marathon or aiming to read 20 books this year, it's convenient to move at your own pace and schedule. But having a gym buddy or a book club pal can make a bigger difference to your goal completion than you think. In this episode of Choiceology with Katy Milkman , we look at the benefits of tandem goal pursuit in the context of training for a new Olympic sport: kite foiling. Max Maeder is a 17-year-old kite foiling athlete and man...
Aug 12, 2024•30 min•Season 14Ep. 1
When 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 Revolution...
Jun 03, 2024•36 min•Season 13Ep. 6
Over 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: t...
May 20, 2024•31 min•Season 13Ep. 5
"Don't judge a book by its cover" is an old adage for a good reason. Elegant book cover designs can create a positive impression and make you more likely to judge the writing quality more positively. But these traits—cover art and writing—are separate and distinct features of books. So why do we allow the judgment of one trait to spill over to another unrelated trait? In this episode of Choiceology with Katy Milkman , we look at a tendency to allow our judgments of one trait of a person (or prod...
May 06, 2024•34 min•Season 13Ep. 4
