logo
episode-header-image
May 2023
29m 15s

Survey Says: With Guests W. Joseph Campb...

CHARLES SCHWAB
About this episode

If you ran a survey at a science fiction convention to find out which movies were most popular with the general public, chances are good that the results would lean heavily towards sci-fi films. This skewing of data is plain to see in this context, but in many others it’s less obvious and potentially more pernicious.

In this episode of Choiceology with Katy Milkman, we look at a bias that can distort information that we gather from the world around us.

First, W. Joseph Campbell tells the story of the infamous Literary Digest election poll of 1936. The publication had correctly predicted several presidential elections in the 1920s and '30s and was considered the most reputable pollster of its day. They sent millions of surveys to people across the United States in advance of the 1936 election. But this time, their predictions couldn’t have been further from the results.

W. Joseph Campbell is a professor of communications at American University and author of Lost in a Gallup: Polling Failure in U.S. Presidential Elections.

Next, Katy speaks with Emily Oster about research that shows how a bias in the way information is collected and presented can affect many decisions, especially ones related to health and parenting. 

You can read more in her latest book, The Family Firm: A Data-Driven Guide to Better Decision Making in the Early School Years.

Emily Oster is the JJE Goldman Sachs University Professor of Economics at Brown University.

Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.

If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts.

 

Important Disclosures

All expressions of opinion are subject to change without notice in reaction to shifting market conditions.

The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab. 

Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.

The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.

Investing involves risk, including loss of principal.

The book, How to Change: The Science of Getting from Where You Are to Where You Want to Be, is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Charles Schwab & Co., Inc. (CS&Co.) has not reviewed the book and makes no representations about its content.

 

Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.

Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.

Spotify and the Spotify logo are registered trademarks of Spotify AB.

(0523-38JC)

 

Up next
Jun 2024
To Fight Another Day: With Guests Alex Imas & Mary Stockwell
When you're facing loss—say, in a board game or during a sporting event or with a declining stock—it can be difficult to remember your true tolerance for risk. You're likely to seek risk more than you normally would.In this episode of Choiceology with Katy Milkman, we look at a t ... Show More
35m 55s
May 2024
Choiceology's Guide to Better Decisions: With Guests James Korris, Carey Morewedge & Jack Soll
Over the years, Choiceology has offered a lot of advice for making better decisions. In this special episode of Choiceology with Katy Milkman, we bring you the story of a video game that is surprisingly effective at reducing decision errors, and you'll hear about a practical chec ... Show More
31m 28s
May 2024
The Charmer's Playbook: With Guests Wilfred Webster & Daniel Read
"Don't judge a book by its cover" is an old adage for a good reason. Elegant book cover designs can create a positive impression and make you more likely to judge the writing quality more positively. But these traits—cover art and writing—are separate and distinct features of boo ... Show More
34m 20s
Recommended Episodes
Nov 2024
What is the Pygmalion effect?
Have you ever wondered how our expectations can impact the way we perceive and interact with others? Well, it’s actually been demonstrated that beliefs and attitudes can lead to outcomes that align with those beliefs, due to what’s known as the Pygmalion effect. 20th century Amer ... Show More
4m 57s
Oct 2024
436. The Brainy Biases: Why Novelty and Stories Captivate Us (Refreshed Episode)
In episode 436 of The Brainy Business podcast, Melina Palmer dives into the fascinating biases our brains have toward novelty and stories. This episode, originally aired in 2019, is part of an eight-part series on biases and offers a rapid-fire overview of how our brains respond ... Show More
28 m
Jul 10
Operation Mincemeat Revisited | Episode + Bonus Interview with Natasha Hodgson
When we first aired "Operation Mincemeat" back in 2020, it was a daring WWII thriller that felt almost too wild to be true. Now, it’s not just history — it’s a hit Broadway musical. This week, we're revisiting our original episode about the ingenious Allied ruse that helped turn ... Show More
54m 46s
Mar 2024
796: Over the Rainbow, Rock Hudson, & Quantum Leap
We start with a rummage through the old mail bag with some feedback from listeners about recent episodes. Yikes. We hear why some people think Over the Rainbow was plagiarized, but others think it's similarities are a coincidence. We discuss some famous musical thefts and how all ... Show More
1h 3m
Jul 2024
037 - Charles Eisenstein
In this episode of "Think Tank," Robert welcomes Charles Eisenstein, an acclaimed public speaker, teacher, and author known for his profound insights into civilization, economics, spirituality, and ecology. The episode begins with Robert recalling their first meeting at Aubrey Ma ... Show More
1h 3m
Sep 2024
Lexington & Concord: History's Unlikeliest Battlefields
The shot heard ‘round the world; the start of the American Revolution. An event that would have profound consequences for world history, especially western democracy. Who’d have thought that something of such magnitude would begin in a small settlement with as many cows as people ... Show More
43m 4s
Dec 2024
Was the Civil War Won by Chance?
How did a couple's holiday save Kyoto from certain ruin? How did a landslide contribute to the Revolutionary War? Basically, how have chance encounters and decisions influenced the history of the United States? Don is joined for this episode by Brian Klaas, author of 'Fluke: Chan ... Show More
34m 43s
May 2024
Your Mind Is Being Fracked
The steady dings of notifications. The 40 tabs that greet you when you open your computer in the morning. The hundreds of unread emails, most of them spam, with subject lines pleading or screaming for you to click. Our attention is under assault these days, and most of us are fam ... Show More
1h 12m
Oct 2024
Alexander the Great: Soldier, Priest, and God. Interview with Professor Fred Naiden
Professor Fred Naiden wrote one of my favorite books on Alexander the Great - Soldier, Priest, and God - and it provides a much different view of Alexander than the warrior king we so often see in modern treatments. Alexander was a deeply religious person, and his ideas and belie ... Show More
56m 9s
Dec 2024
Lexington & Concord: The First Battles of the Revolutionary War
The shot heard ‘round the world'; the start of the American Revolution. An event that would have profound consequences for world history, especially western democracy. Who’d have thought that something of such magnitude would begin in a small settlement with as many cows as peopl ... Show More
42m 55s