#3: Katy Milkman – How to Change, EP..199 

Small Changes

Katy Milkman, a renowned behavioral economist, shares her transformative realization about the power of small lifestyle changes. She was profoundly impacted by a graph showing that 40% of premature deaths in the U.S. are due to behaviors we can change, such as diet and exercise. This revelation shifted her focus to behavior change, recognizing the immense social impact of helping people make better decisions in various aspects of life 1. Milkman reflects on her journey from engineering to behavioral economics, driven by the desire to understand and correct decision-making mistakes 2.

   

Temptation Bundling

Milkman introduces the concept of temptation bundling, a strategy to align immediate rewards with long-term goals. By pairing enjoyable activities, like listening to audiobooks, with necessary tasks, such as exercising, she found a way to make workouts more appealing and effective 3. This approach highlights the importance of identifying specific obstacles to change, such as impulsivity, and finding tailored solutions 4. Milkman emphasizes that understanding these barriers is crucial for successful behavior change.

   

Commitment Devices

Commitment devices are explored as tools to restrict access to temptations and reinforce positive habits. Milkman discusses experiments where people willingly chose accounts with withdrawal restrictions to boost savings, demonstrating the power of self-imposed constraints 5. She also mentions services where individuals pay to have their money donated to disliked charities if they fail to meet goals, illustrating the lengths people will go to enforce discipline 6. These strategies underscore the effectiveness of commitment devices in promoting desired behaviors.