John A. List: Improving the World with Economics (EP.204)

<p>John List is the recently appointed Chief Economist at Walmart, and is also a Professor of Economics at the University of Chicago, having worked as the Chief Economist at Uber and Lyft. He has published a huge array of important papers in the field of economics and is also the author of the recent book <em>The Voltage Effect, </em>which deals with the question of how to scale ideas successfully. We are very excited to bring you this episode, which is a particularly illuminating one, in which we draw on John's treasure trove of insight and experience, to answer a long list of questions related to personal finance decision-making. A large portion of our chat focuses on the central ideas of critical thinking and fieldwork, practices that our guest views as indispensable in making the world a better place. Along the way we get John's thoughts on retirement planning, public policy, charitable donations, and much more, so make sure to press play on this fantastic episode of the Rational Reminder Podcast.</p> <p> </p> <p><strong>Key Points From This Episode:</strong></p> <p> </p> <ul> <li>John explains the importance of fieldwork in the study of economics. <strong>[0:03:51]</strong></li> <li>Examples of field experiments that overturned a supposed economic truth. <strong>[0:05:15]</strong></li> <li>Finding ways to test theories that previously proved difficult. <strong>[0:08:30]</strong></li> <li>The question of generalizing findings from an experiment to a wider rule. <strong>[0:13:30]</strong></li> <li>Replication in academic studies; John unpacks its central importance. <strong>[0:20:46]</strong></li> <li>Why positive results tend to garner a publication bias. <strong>[0:23:38]</strong></li> <li>John's perspective on checking in on investment portfolios. <strong>[0:24:40]</strong></li> <li>What the data shows us about investment behaviours of men and women. <strong>[0:28:38]</strong></li> <li>Accounting for the drive to give to charity. <strong>[0:35:20]</strong></li> <li>Advice for how to make the most of your do