STANDARD DEVIATIONS PODCAST: Richard Shotton – The Illusion of Choice


This week on Standard Deviations with Dr. Daniel Crosby, Dr. Crosby is joined by Richard Shotton. Richard is the author of The Choice Factory, a best-selling book on how to apply findings from behavioral science to advertising.

Richard started his career as a media planner 18 years ago, working on accounts such as Coke, Lexus, and comparethemarket, before specializing in applying behavioral science to business problems. He is the founder of Astroten, a consultancy that applies behavioral science to marketing. He regularly runs training sessions with brands, big and small, using insights from behavioral science to help solve their problems. He tweets about the latest social psychology findings from the handle @rshotton.

Tune in to hear:

– If so much of what accounts for our behavior is habitual, what hope do we have and how can we change that as we look to the New Year?

– Why do such small bits of friction have an outsized influence on our behavior?

– Does publicly stating your goals have any drawbacks or does it help you stay accountable?

– What is the rhyme-as-reason or fluency effect and how might understanding these effects impact your client education?

– Why can subtle tweaks in the framing of an appeal have such massive impacts on how it is received ?

– In a field like finance, what is an appropriate application of the behavioral reality that humor is sticky without coming across as unserious?

Compliance Code: 0023-OAS-1/3/2024


Educated at Brigham Young and Emory Universities, Dr. Daniel Crosby, the personality behind STANDARD DEVIATIONS podcast, is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets.

Dr. Crosby’s first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller. His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into Japanese, Chinese, Vietnamese and German. His latest work, The Behavioral Investor, is an in-depth look at how sociology, psychology and neurology all impact investment decision-making.