Dr. Steve Wendel - Designing for Behavior Change: The Ultimate Guide to Influencing Positive Outcomes
Episode description
Tune in to hear:
- Morningstar recently conducted an in-depth study on the financial biases that people bring to the table. What are the real world, fiscal impacts of these biases?
- In the study, were they able to quantify a percentage or a dollar amount difference between biased and unbiased folks?
- 2% of people in their study showed no evidence of bias - are their really people out there that are almost completely bias free, or was this an anomaly in the study?
- There was only one bias that showed a significant skew for a certain demographic - which one was it and why might this be the case?
- In most studies men show up as overconfident with financial decisions, when compared to women - why didn’t this play out so dramatically in the Morningstar research?
- Did Steve’s team’s study look at lose aversion at all?
- What are the 6 facets of the “Create” model that Steve created as a sort scaffolding for guiding client behavior.
- If we have a client with a history of traumatic or bad financial experiences, how can we help them envision different outcomes and possibilities?
- How can behavioral science be used to improve one’s religious or spiritual practice?
- What does the research show about the benefits of having a personal spiritual practice and what might this look like for different people?
Compliance Code: 2537-OAS-9/28/2021