If you've ever enjoyed a television police procedural, you've most likely heard that eyewitness statement is notoriously undependable. An individual commits a crime literally right in front of somebody, but the witness can't recognize crucial attributes of the criminal– or worse, gets the details wrong and implicates an innocent person. Why does this happen?

In this episode of Choiceology with Katy Milkman (), we look at the limitations of attention and perception.

The episode starts with the description of a surprising experiment involving two groups passing basketballs. You can try the experiment here (), even if you have actually currently listened to the episode.

Katy follows with the story of one of the most popular marketing mistakes of all time: the introduction of New Coke by the Coca Soda Company (). Mark Pendergrast, author of For God, Nation & Coca Soda Pop (), recounts the history of the brand and takes you inside the company to explain how their executives came to a dreadful decision.

Robert Teszka () then shows how magicians harness the limitations of an audience's attention in order to surprise and amuse.

Next, we hear from Dolly Chugh () of New York University's () Stern School of Organization () and Max Bazerman () of the Harvard Business School (). They describe how this propensity to miss crucial information is methodical and foreseeable, and how it can negatively affect choices in organization and life. Dolly Chugh is the author of The Individual You Mean to Be: How Great Individuals Battle Predisposition (). Max Bazerman is the author of The Power of Noticing: What the very best Leaders See ().

Finally, Katy uses simple methods to assist you broaden your awareness and make better-informed decisions.

Choiceology is an original podcast from Charles Schwab (). For more on the series, go to schwab.com/podcast ().

If you delight in the show, please leave a ⭐ ⭐ ⭐ ⭐ ⭐ score or review on Apple Podcasts ().

Essential Disclosures:

All expressions of opinion go through alter without notification in response to shifting market conditions.

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

Information included herein from third-party providers is obtained from what are thought about reputable sources. However, its accuracy, efficiency or reliability can not be ensured.

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