Behavioral Economics

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I recently listened to a podcast on temptation bundling, featuring the work of Katherine Milkman (Wharton). 

Temptation bundling is explained here and here by Katherine Milkman, who (I believe) coined the term.

In short, temptation bundling is putting something you want to do together with something you should do. 

Temptation bundling can make both activities more enjoyable — you feel better about the want activity because you also accomplished a should activity, and the should activity is less difficult because it is married with a want activity. For example, temptation bundling is what I have been doing with podcast listening; I only listen to podcasts (want) when I workout (should).

Below are a few temptation bundles that might work for professors:

  • Drinking caffeinated drinks only while researching;
  • Listening to your favorite music only while grading; and
  • Eating chocolate only when in faculty meetings.

Happy New Year!

Last year I wrote a bit about New Year’s resolutions.

As some of you know, I wasn’t able to go the full year without checking my e-mail on Saturdays. In fact, that resolution was toast a few weeks into 2015.

One of the problems, I think, was that I had 20 resolutions in 2015. We all have limited self-control, and we can experience overload in January.

I have been doing New Year’s resolutions for as long as I can remember, with varied amounts of success, but I am going to try something a bit different this year.

The Cass Sunstein article I included last year gave me the idea. In the article, he states “But how can we ensure that our resolutions actually stick? Behavioral economists have three answers: Make them easy and automatic, make them a matter of habit, and make them fun. A resolution is more likely to work if it is concrete and can be translated into a simple routine.”

This year, instead of a long list of resolutions, I plan to focus on forming one habit each month. I hope the habits will continue after that month, but after one month of intense focus…