Susan Menke

Ph.D. Behavioral Economist, Economic Anthropologist.

[Susan Menke @smenke]

@farman4x Double every number then add one. The answer is 95

[George Mack @george__mack]

In 2001, Warren Buffett gave a talk at the University of Georgia.

He asked them the most Warren Buffett question ever:

• If you could invest in a friend and get 10% of their income for life -- who would you pick?

Once the students answered the question, he then asked this:

• Why would you invest in that person?
• What character traits do they have?

Now they have a list of character traits to adopt.

Shortly after this, Buffett asked:

If you could short a friend's earnings, who would you pick and why?

Now you have a list of character traits to avoid.

----

1. Do not think this thought experiment is limited to money.

If you don't care about money -- you can use it for whatever currency you value instead.

E.g. Happiness coin

If you could get 10% of a friend's happiness, who would you invest in and why?

If you could short someone's happiness, who would you pick and why?

You can run the same thought experiment with Fitness coin, Friendship coin, Romance coin, etc`

2. This thought experiment is genius because it hacks a bug in life's video game:

Humans are terrible at self-awareness.

But we are great at spotting things in other people.

E.g. If your friend is in the wrong relationship, you can realize in 10 minutes what may take them 10 years.

Daniel Kahneman summarised his book on cognitive biases with the following:

“The premise of this book is that it is easier to recognize other people’s mistakes than our own.” - Daniel Kahneman

3. Nuance - It has to be purely from merit.

Buffett says it can't be because someone will inherit a large sum from their parents.

It has to be based on their behavior.

E.g. If you want 10% of someone's fitness coin, it's not because of incredible genetics -- is because of the actions they take.

[Wharton Brain @whartonbrain]

Calling all students curious about the intersection of neuroscience, analytics, & business! @PennMindCORE WiN Summer Fellowship Program Application is LIVE! https://t.co/99sYuNjdlp. Apply by 11:59pm EST on January 15, 2023 to be considered. #WhartonBrain @WhartonAnalytics

[Susan Menke @smenke]

@danielcrosby @CocaCola You are officially an influencer. Now do the rest of their portfolio.

[Susan Menke @smenke]

@Mike_PiFF03 Gene and Georgetti’s. La Scarola, Nick and Vito’s. Carmines. The Italian restaurants seem to become classics.

[Koenfucius 🔍 @koenfucius]

We are quicker to judge, decide and conclude than we think, and we believe we use more information than we actually do to make up our minds, research suggests: https://t.co/IhZ7D533op

[Tobias Brosch @tobiasbrosch]

When do nudges work? Our new meta-analysis compares the effect sizes of different choice architecture interventions across behavioral domains. https://t.co/vGqG7CpPkS

[Touré @Toure]

Just saw a tweet saying “Both the vaccinated and the unvaccinated can catch Covid.”

A doctor responded: “Both Serena Williams and I can play tennis."

[Susan Menke @smenke]

@Michaelretired @ashupasu @mkraju Me too. Snowmageddon 2011.

[Patrick Dexter @patrickdextervc]

Auld Lang Syne. Happy New Year from the west coast of Ireland

[PoliticsGirl @IAmPoliticsGirl]

It’s funny cause it’s true…

[Allan Fromen @allanfromen]

This is why we need more #psychology and #behavioralscience experts in #government

[Susan Menke @smenke]

Sense and sensibility: Steven Pinker and Rory Sutherland on reason vs instinct https://t.co/1z62CL6jb0 via @spectator

[Elon Musk @elonmusk]

Should be taught to all at a young age

[Susan Menke @smenke]

@ideafaktory After living in Shanghai for most of 1998 I remember standing in a US grocery store and staring at an aisle full of paper products thinking how many types of tissue do we need? We become desensitized to the sensory overload. It’s not a good thing.

[Susan Menke @smenke]

@PlatoPox @smenke Thx to you my friend!

[Susan Menke @smenke]

@danielcrosby I keep seeing a rather sinister dancing paper clip in my peripheral vision asking me if I need help with anything

[Really American 🇺🇸 @ReallyAmerican1]

Can we get 2,000 retweets on this? We’re expanding our rides to the polls program in Georgia. $20 pays for a round trip ride to the polls for a Georgian in need this. A retweet and small contribution does just that, helping to get our voters it the polls. https://t.co/BNkqFdSSOM