Episode description
Episode description
This week our guest is Melina Palmer, a renowned keynote speaker in behavioural economics and the CEO of The Brainy Business, as well as hosting one of the best podcasts on the subject of the practical application of behavioural economics.
In this episode, we discuss how silos and tribal mentalities occur in the workplace due to confirmation bias and how we can expand the circle of empathy to create a more cohesive team.
We'll also delve into the issue of time discounting, availability bias and optimism bias to understand why people are drawn to the easy option in the moment.
We shall explore how the cybersecurity team's curse of knowledge can be a barrier to effective communication, and the need to create easier-to-digest content that enables 'buy-in.'
Key takeaways for this episode are:
Understanding the behaviour that leads to insecure cybersecurity behaviour is crucial in developing effective cybersecurity strategies.
Silos and tribal mentalities in the workplace can be detrimental to team dynamics and productivity. Leaders should work towards creating a 'team company' culture.
Confirmation bias and focusing illusion can lead to negative relationships and narrow perspectives. It's important to listen and build positive connections.
Cybersecurity messages should be framed in a way that resonates with users and takes into account their knowledge and habits.
To effectively communicate cybersecurity information, it's important to get into the mind space of the person you're communicating with and provide easy-to-digest content.
If you're interested in understanding the behavioural science behind cybersecurity and how we can communicate more effectively, then you're in the right place.
Links to everything Melina discussed in this episode can be found in the show notes and if you liked the show, please do leave us a review.
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It really helps us spread the word and get high-quality guests, like Melina, on future episodes.
We hope you enjoyed this episode - See you next time, keep secure, and don’t forget to ask yourself, ‘Am I the compromising position here?’
SHOW NOTES
The original, and arguably the best book on Nudge Theory - Nudge: The Final Edition: Improving Decisions About Money, Health, and the Environmentby Richard H. Thaler and Cass R. Sunstein. This is a must read book to learn about influencing behaviour change
The Power of Us: Harnessing Our Shared Identities for Personal and Collective Successby Jay Van Bavel and Dominic J. Packer
A short video on the philosophy of Ayn Rand
Melina’s episode on Confirmation Bias
Melina’s episode on Focusing Illusion
We couldn’t find the exact study Melina mentions in regards to teachers bias and the impact on grades but we did find another similar study that shares almost the same results - (Biased) Grading of Students’ Performance
Melina’s episode on Availability Bias
Melina’s episode on Time Discounting
Melina’s episode on Optimism Bias
ABOUT MELINA PALMER
Melina Palmer is a globally celebrated keynote speaker showing companies how they can easily get customers to buy and employees to buy in by leveraging the power of behavioural economics.
She is the CEO of The Brainy Business, which provides behavioural economics training and consulting to businesses of all sizes from around the world.
Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioural economics to many universities and businesses. Melina teaches applied behavioural economics through the Texas A&M Human Behavior Lab and obtained her master’s in behavioural economics from The Chicago School of Professional Psychology.
A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and writes on Behavioral Economics & Business for Inc Magazine.
Her first book, What Your Customer Wants and Can’t Tell You (2021), won first place in the Chanticleer International Book Awards in its category, of which her second book, What Your Employees Need and Can’t Tell You (2022), was also a finalist. Her highly anticipated third book, The Truth About Pricing, is scheduled to be published in January 2024.
LINKS RELATED TO MELINA PALMER