Ep. 295: Gerd Gigerenzer & Brian Wansink Interviews with Michael Covel on Trend Following Radio

My guests today are Gerd Gigerenzer and Brian Wansink. Gigerenzer is currently director of the Center for Adaptive Behavior and Cognition (ABC) at the Max Planck Institute for Human Development and director of the Harding Center for Risk Literacy. Wansink is the John Dyson Professor of Marketing and the Director of the Cornell Food and Brand Lab in the Department of Applied Economics and Management at Cornell University.  The topics are Gigerenzer's book Risk Savvy: How to Make Good Decisions and Wansink's book Slim by Design: Mindless Eating Solutions for Everyday Life. In this episode of Trend Following Radio we discuss: Covel and Gigerenzer discuss the differences between Daniel Kahneman and Gigerenzer's views; heuristics vs. statistics; the notion of medical check-ups, prostate cancer, and the PSA test; taking risks, and instincts vs. expert advice; relative vs. absolute risk; Benjamin Franklin's ledger, heuristics, and romance; intuition, facts, unconscious intelligence, and gut decisions; being risk savvy and ordering in upscale restaurants, why Risk Savvy is an alternative to many other outlooks; the two tools to being risk savvy; the gaze heuristic and athletics; complex problems and simple heuristics. Covel and Wansink discuss weight and obesity; our genes and environment as an effect on our health; "doing what skinny people do" and studying buffets; modeling the behavior of slim people; the advantages of chopsticks; the power of the grocery shopper of the household; triggers and tips to avoid unhealthy behavior that happens in restaurants; correlations between where you sit in a restaurant and eating choices; the three types of people in the context of nutrition; the influence of the environment on our eating habits; being slim by design vs. being slim by willpower; pursuing happiness vs. pursuing a purpose. Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!