Episode 68: The Behavioral Science Behind Decision Making - Insights from 6 Psychological Concepts

Bring back the behavioral science concepts! Doug and Jess walk through six concepts that all relate to making decisions. Those concepts include: chunking, decision fatigue, staging, elimination by aspects, decision inertia, and substitution. Here are the definitions of each (From Behavioral Economics):Chunking: When the same information is presented in a different form that is easier to process, our ability to receive and remember it is greater. Decision Fatigue: Long sessions of decision making can lead to poor choices.Staging: When people make complex or long decisions, such as buying a car, they tend to successively explore their options. This includes what information to focus on, as well as choices between attributes and alternatives.Elimination by Aspects: Decision makers gradually reduce the number of alternatives in a choice set, starting with the most important one.Decision Inertia: The endurance of a stable state associated with inaction and the concept of status quo biasSubstitution: The strategy of replacing a distant or abstract reward with a more immediate or tangible incentive to motivate individuals to engage in desirable behaviors or achieve long-term goals.If you like the show, please subscribe and share the episode. For updates on new episodes follow us on:Twitter/X: @dougdavidoff, @JessDCardenas & @demandcreatorLinkedIn: Lift Enablement, Doug DavidoffYou can also watch the video version of the show on our page. Thanks for listening and remember to just say no to shitty RevOps!