Episode 266: Prof. Cass Sunstein: Practical Reason in Ordinary Life

<p>We make countless decisions throughout our lives that range from the mundane to the monumental. But how do you decide <em>how</em> you decide? That is the fundamental question in our esteemed guest, Cass R. Sunstein’s new book <em>Decisions about Decisions: Practical Reason in Ordinary Life.</em> Cass currently serves as the Robert Walmsley University Professor at Harvard University and is the founder and director of the Program on Behavioral Economics and Public Policy at Harvard Law School. He is also a prolific author, with one of his most notable works being the hugely popular and impactful book, <em>Nudge: Improving Decisions about Health, Wealth, and Happiness</em>, which he co-wrote with Richard Thaler in 2008. In today's conversation, we sit down with Cass to discuss the difficulties inherent to understanding why people make the decisions they make and what the latest research teaches us about how we should approach decision-making to maximize our well-being. Cass provides insight into second-order thinking strategies, the difference between picking and choosing, and why delegating a particular decision is sometimes the right call. We also unpack what to consider when making major life choices, the strengths and weaknesses of algorithms when it comes to decision-making, and much more. To hear Cass’s many insights on the topic of behaviour, knowledge, and decision-making, be sure to tune in!</p> <p><strong>Key Points From This Episode:</strong></p> <p> </p> <ul> <li>The challenges of understanding why people make the decisions that they make. <strong>(0:03:38)</strong></li> <li>Second-order decisions and why they are sometimes preferable to on-the-spot decisions. <strong>(0:04:50)</strong></li> <li>An overview of various second-order decision strategies.<span class="Apple-converted-space"> </span> <strong>(0:06:45)</strong></li> <li>Guidelines to help you choose which decisions to delegate and how to determine whether you have a trustworthy delegate. <strong>(0:11:28)</strong></li> <li>What to consider