Fast & Slow ThinkingOpen Access

Fast & Slow Thinking

We make knee-jerk spontaneous decisions that can cause regretful damage

Though it has its benefits, our instinctive tendency to preserve mental ‘bandwidth’ and make fast decisions can instead lead us to poor ones.

Heller, Shah, Guryan, Ludwig, Mullainathan & Pollack (2017). Thinking, fast and slow? Field experiments to reduce crime … in Chicago. Quarterly Journal of Economics.

The study

Setup

2,064 male students from 9 schools in Chicago were enrolled in a two-year-long program that encouraged system-two slow thinking on how to manage situations of conflict.

Results

Participation in the program reduced total arrests by 35% and violent crime arrests by 50%.

Study graph

Key Takeaways

Add a little friction.

We constantly weigh up effort vs rewards, so seeing one long sign-up form can lead us to make a fast system-one decision not to do so.

A process that’s Chunked, features reflective Goal Primes and clearly shows the product benefits will work better. 

Takeaway image

Provide warnings for damaging decisions.

Instagram have launched "comment warning", live-analysing a comment and notifying of potential offense, without removing the Autonomy to post. This allows for reflection and avoids Reactance.

Takeaway image

Build in reflective periods for big decisions.

Knee-jerk, short-term decisions can harm our longer-term goals. E.g., financial firms can help us make smarter decisions about withdrawing all our savings by building in a reflective delay, especially when such decisions conflict with our prior Commitments and goals.

Takeaway image
Takeaway image
Fast & Slow Thinking

Fast & Slow Thinking

We make knee-jerk spontaneous decisions that can cause regretful damage

Though it has its benefits, our instinctive tendency to preserve mental ‘bandwidth’ and make fast decisions can instead lead us to poor ones.

The study

Setup

2,064 male students from 9 schools in Chicago were enrolled in a two-year-long program that encouraged system-two slow thinking on how to manage situations of conflict.

Results

Participation in the program reduced total arrests by 35% and violent crime arrests by 50%.

study graph
np_read_2490885_000000

In detail

Hungry for more?

Savour the full features of Coglode Cookbook

Upgrade

All Nuggets

Academic data

Key takeaways

Pairings

Cheat Sheets

Collect Nuggets

Nuggets In The Wild

Coglode Live monthly

Nuggets In The Wild

Related "Wilds"

Nuggets

Snack on these...

Open access, foundational Nuggets

Scarcity

Scarcity

We value things more when they’re in limited supply

Social Proof

Social Proof

We copy the behaviors of others, especially in unfamiliar situations

Prospect Theory

Prospect Theory

A loss hurts more than an equal gain feels good

Reciprocity

Reciprocity

We’re hardwired to return kindness received

Framing

Framing

We make very different decisions based on how a fact is presented

Loss Aversion

Loss Aversion

We feel more negative when losing something than positive when we gain it

Default Effect

Default Effect

We tend to accept the option pre-chosen for us

Anchoring

Anchoring

What we see first affects our judgement of everything thereafter

Fast & Slow Thinking

Fast & Slow Thinking

We make knee-jerk spontaneous decisions that can cause regretful damage

Dynamic Norms

Dynamic Norms

We’re more likely to change if we can see a new behavior developing

Salience

Salience

Our choices are determined by the information we're shown

Connected to

Hungry for more?

Savour the full features of Coglode Cookbook

All Nuggets, data & takeaways

Academic data

Key takeaways

Pairings

Cheat Sheets

Collect Nuggets

Nuggets In The Wild

Monthly Coglode Live calls

Upgrade

Join Coglode Live!

October 19, 2022 16:00

GMT

Limited Choice
We’re more likely to decide when the options are sensibly restricted

Join us as we dive deep into one of the key paradoxes of modern consumerism.

We'll explore:

• The theory behind why choice is so important, yet also the pitfalls from too much of it
• Brand new research that pushes our understanding further
• How to redesign choice with real world before and after examples

As normal, it'll be highly interactive, so join us for the fun. It's your choice!

Show more
Limited Choice
We’re more likely to decide when the options are sensibly restricted
Sign up to attend

Running workshops?

Fast & Slow Thinking

is included in Box One of our physical workshop tool.
is included in Box Two of our physical workshop tool.
Nuggets Boxes