ABOUT THE SPEAKER
Baba Shiv - Neuroeconomist
Baba Shiv studies how “liking” and “wanting” shape the choices we make, and what that means in the world of marketing.

Why you should listen

Does a bottle of wine’s price tag price affect the pleasure one experiences in buying and drinking it? Does getting immediate feedback on a choice lead a person to doubt their decision? Does being denied something make people pursue it more hotly while simultaneously liking it less? Over his academic career, Baba Shiv has researched these questions in neuroeconomics, winning awards like the William O’Dell prize for an article that made a significant, long-term contribution to marketing theory and practice. Two of Professor Shiv's publications have received the Citation of Excellence from Emerald Management Reviews, and his research has been been featured on "The Tonight Show with Jay Leno" and on NPR's "Radiolab," as well as in the Financial Times, The New York Times, and The Wall Street Journal.

A professor at Stanford's Graduate School of Busines , Shiv is the director of the Strategic Marketing Management Executive Program and teaches several popular MBA courses including “The Frinky Science of the Mind” and “Entrepreneurial Ventures in Luxury Markets.” He served as the editor of the Journal of Consumer Research and is also on the editorial boards of the Journal of Consumer Psychology, Journal of Retailing, Journal of Marketing and the Journal of Marketing Research.

More profile about the speaker
Baba Shiv | Speaker | TED.com
TEDxStanford

Baba Shiv: Sometimes it's good to give up the driver's seat

Baba Shiv: Ás veces é bo ceder o mando.

Filmed:
901,458 views

Ao longo dos anos, as investigacións revelaron unha característica ilóxica sobre a natureza humana: ás veces, ter demasiadas opcións fainos sentir peor. Isto incluso pode aplicarse no tocante a tratamentos médicos. Baba Shiv fala sobre un estudo que mide como as eleccións nos levan á dúbida, e suxire que ceder o mando é a mellor opción, especialmente en cuestións de vida ou morte.
- Neuroeconomist
Baba Shiv studies how “liking” and “wanting” shape the choices we make, and what that means in the world of marketing. Full bio

Double-click the English transcript below to play the video.

Vou comezar por relatar un momento triste
00:16
I want to start on a slightly somber note.
0
542
3132
00:19
Two thousand and seven, five years ago,
1
3674
3773
2007. Hai cinco anos
00:23
my wife gets diagnosed with breast cancer,
2
7447
3046
á miña muller diagnosticáronlle
cancro de mama.
00:26
stage IIB.
3
10493
3050
Estadio IIB
[este non é un sitio agradable]
00:29
Now, looking back, the most harrowing
4
13543
2151
Agora, botando a vista atrás,
dámonos conta de que o peor daquilo
00:31
part of that experience
5
15694
1144
00:32
was not just the hospital visits --
6
16838
2112
non só foron as visitas ao hospital,
00:34
these were very painful for my wife, understandably so.
7
18950
3212
coas que a miña muller sufría moito,
o que é comprensible.
00:38
It was not even the initial shock of knowing
8
22162
1822
Nin sequera o foi o duro golpe
de saber que padecía cancro
00:39
that she had breast cancer, just 39 years old,
9
23984
2104
con tan só 39 anos
00:41
absolutely no history of cancer in her family.
10
26088
4040
e sen ningún antecedente na familia.
A parte máis angustiosa e atroz
de toda esta experiencia
00:46
The most horrifying and agonizing part
11
30128
3069
00:49
of the whole experience was we were making
12
33197
2664
foi que tivemos que tomar decisión
tras decisión, tras decisión.
00:51
decisions after decisions after decisions
13
35861
1905
00:53
that were being thrust upon us.
14
37766
2068
Deixábannos elixir.
00:55
Should it be a mastectomy? Should it be a lumpectomy?
15
39834
3186
Deberíase realizar unha mastectomía?
Ou debería ser unha tumorectomía?
00:58
Should it be a more aggressive form of treatment,
16
43020
2376
Deberíase aplicar
un tratamento máis agresivo
01:01
given that it was stage IIB?
17
45396
1881
dado que se trataba dun estadio IIB?
01:03
With all the side effects?
18
47277
1536
Con tódolos efectos secundarios?
01:04
Or should it be a less aggressive form of treatment?
19
48813
2888
Ou debería aplicarse
un tratamento menos agresivo?
01:07
And these were being pressed upon us
20
51701
2198
Os médicos deixábano na nosa man.
01:09
by the doctors.
21
53899
2276
01:12
Now, you could ask this question,
22
56175
1467
Cabería preguntarse
01:13
why were the doctors doing this?
23
57642
1666
por qué fan isto os médicos.
01:15
Now, a simplistic answer would be,
24
59308
1783
Unha resposta simplista sería
que o fan porque queren
protexerse no ámbito legal.
01:16
the doctors are doing this because they want to protect themselves legally.
25
61091
4368
01:21
I think that is too simplistic.
26
65459
1723
Creo que iso é demasiado simplista.
01:23
These are well-meaning doctors,
27
67182
1477
Son médicos ben intencionados;
01:24
some of them have gone on to become very good friends.
28
68659
2039
algúns mesmo chegaron
a converterse en moi bos amigos.
01:26
They probably were simply following the wisdom
29
70698
2137
Probablemente só seguían esa sabedoría
01:28
that has come down the ages, this adage that when you're making decisions,
30
72835
3808
acumulada desde hai moito,
esa máxima que di que,
á hora de tomar decisións,
01:32
especially decisions of importance,
31
76643
2423
sobre todo as importantes,
01:34
it's best to be in charge, it's best to be in control,
32
79066
2939
é mellor estar ao mando, ter o temón,
01:37
it's best to be in the driver's seat.
33
82005
2993
ter o control da situación.
01:40
And we were certainly in the driver's seat,
34
84998
2057
Dende logo que tiñamos o control,
01:42
making all these decisions, and let me tell you,
35
87055
1830
tomando tódalas decisións.
Déixenme dicirlles que,
se algún de vostedes viviu isto,
01:44
if some of you had been there,
36
88885
1535
01:46
it was a most agonizing and harrowing experience.
37
90420
3872
foi a peor e máis tormentosa
das experiencias.
01:50
Which got me thinking.
38
94292
1449
Todo isto fíxome pensar.
01:51
I said, is there any validity to
39
95741
1562
Hai algunha validez no dito
01:53
this whole adage that when you're making decisions,
40
97303
3590
de que cando se toman decisións
01:56
it's best to take the driver's seat,
41
100893
2392
é mellor ter o control da situación,
01:59
be in charge, be in control?
42
103285
1264
ter o mando, ter o temón?
02:00
Or are there contexts where we're far better off
43
104549
3544
Ou hai situacións nas que é moito mellor
02:03
taking the passenger's seat and have someone else drive?
44
108093
3073
apartarse para un lado
e deixar que outros
tomen as decisións por nós?
02:07
For example, a trusted financial advisor,
45
111166
1755
Por exemplo,
un asesor financeiro en que confíen,
02:08
could be a trusted doctor, etc.
46
112921
3060
un médico de confianza, etc.
02:11
And since I study human decision making,
47
115981
2152
Xa que estudo o xeito de tomar decisións,
02:14
I said, I'm going to run some studies
48
118133
3184
decidín levar a cabo novas investigacións
02:17
to find some answers.
49
121317
1480
para dar coas respostas.
Hoxe vou compartir con vostedes
un destes estudos.
02:18
And I'm going to share one of these studies with you today.
50
122797
2232
02:20
So, imagine that all of you are participants in the study.
51
125029
4248
Imaxinen que todos participan nel.
02:25
I want to tell you that what you're going to do in the study is
52
129277
3177
Vou dicirlles o que teñen que facer
para participar:
02:28
you're going to drink a cup of tea.
53
132454
2535
teñen que tomar un té.
02:30
If you're wondering why, I'll tell you why in a few seconds from now.
54
134989
4133
Estaranse preguntando o porqué,
e saberano nuns intres.
02:35
You are going to solve a series of puzzles,
55
139122
2620
Teñen que resolver
unha serie de crebacabezas
02:37
and I'm going to show you examples of these puzzles momentarily.
56
141742
3929
que lles vou amosar en breve.
02:41
And the more puzzles you solve,
57
145671
1615
Cantos máis resolvan,
02:43
the greater the chances that you'll win some prizes.
58
147286
3390
máis posibilidades teñen
de gañar un premio.
02:46
Now, why do you have to consume the tea?
59
150676
2208
Así que, por que deben tomar o té?
Por que?
Ten moito sentido:
02:48
Why? Because it makes a lot of sense.
60
152884
1504
02:50
In order to solve these puzzles effectively,
61
154388
2736
Se o pensan, para resolver os crebacabezas
dun xeito eficaz,
02:53
if you think about it, your mind needs to be in two states simultaneously.
62
157124
3648
as súas cabezas precisan estar
simultaneamente en dous estados, non?
02:56
Right? It needs to be alert,
63
160772
3075
Precisan estar alerta,
02:59
for which caffeine is very good.
64
163847
2862
para o que a cafeína é moi boa.
03:02
Simultaneously, it needs to be calm.
65
166709
2944
Pero ao mesmo tempo precisan
estar tranquilos,
non nerviosos, senón calmados,
03:05
Not agitated, calm. For which chamomile is very good.
66
169653
5688
para o que a macela é moi boa.
03:11
Now comes the between-subjects design,
67
175341
2855
Agora vén a proba
entre diversos participantes:
o test AB, a proba AB.
03:14
the AB design, the AB testing.
68
178196
1480
03:15
So what I'm going to do is randomly assign you
69
179676
1776
Vounos distribuír
aleatoriamente en dous grupos
03:17
to one of two groups.
70
181452
2001
Imaxinen unha liña imaxinaria por aquí
03:19
So imagine that there is an imaginary line out here,
71
183453
2743
de modo que esta parte será o grupo A
03:22
so everyone here will be group A,
72
186196
3033
03:25
everyone out here will be group B.
73
189229
2535
e esta outra será o grupo B.
03:27
Now, for you folks, what I'm going to do is
74
191764
3209
Agora a vostedes vou amosarlles
estes dous tés
03:30
I'm going to show you these two teas,
75
194973
1903
03:32
and I'm asking you, I'll go ahead and ask you,
76
196876
2128
e preguntareilles cal deles prefiren.
03:34
to choose your tea. So you can choose which of the two tea you want.
77
199004
2761
Poden escoller o que queiran.
03:37
You can decide, what is your mental state:
78
201765
2280
Poden decidir cal é o seu estado mental,
03:39
Okay, I'm going to choose the caffeinated tea,
79
204045
2013
é dicir, elixir o té con cafeína
03:41
I'm going to choose the chamomile tea.
80
206058
1208
ou elixir a macela.
03:43
So you're going to be in charge,
81
207266
1422
Así que terán o temón, o control,
03:44
you're going to be in control, you're going to be in the driver's seat.
82
208688
3821
poderán elixir o que prefiran.
03:48
You folks, I'm going to show you these two teas,
83
212509
3219
A vostedes, amigos, ensinareilles
estes dous tés,
03:51
but you don't have a choice.
84
215728
2093
pero vostedes non terán elección.
03:53
I'm going to give you one of these two teas,
85
217821
2251
Vou darlles un deles,
03:55
and keep in mind, I'm going to pick one of these
86
220072
2224
e recorden que escollerei un destes dous
03:58
two teas at random for you.
87
222296
1942
aleatoriamente para vostedes.
04:00
And you know that.
88
224238
1732
E sábeno.
04:01
So if you think about it, this is an extreme case scenario,
89
225970
2649
Así que se o pensan,
esta é unha situación extrema
porque no mundo real,
04:04
because in the real world,
90
228619
1248
04:05
whenever you are taking passenger's seat,
91
229867
2151
cando un deixa a alguén tomar decisións,
04:07
very often the driver is going to be someone you trust,
92
232018
2521
normalmente esa persoa
é alguén da súa confianza,
un experto, etc.
04:10
an expert, etc. So this is an extreme case scenario.
93
234539
4520
Así que esta é unha situación extrema.
[Grupo A: Escolle o té]
[Grupo B: Danllo]
04:14
Now, you're all going to consume the tea.
94
239059
4961
Agora tomarán todos o té.
Imaxinen que o están a tomar,
04:19
So imagine that you are taking the tea now,
95
244020
1390
04:21
we'll wait for you to finish the tea.
96
245410
1953
esperaremos a que o rematen.
04:23
We'll give another five minutes for the ingredient to have its effects.
97
247363
3866
Deixaremos outros cinco minutos
para que faga o efecto desexado.
04:27
Now you're going to have 30 minutes to solve 15 puzzles.
98
251229
5658
Agora terán 30 minutos
para resolver 15 crebacabezas.
04:32
Here's an example of the puzzle you're going to solve.
99
256887
3066
Este é un exemplo dos que terán que facer.
04:35
Anyone in the audience want to take a stab?
100
259953
2321
Algún de vostedes quere probar?
04:38
(Audience: Pulpit.) Baba Shiv: Whoa!
101
262274
2015
Moza: 'Púlpito'
Baba Shiv: Guau! Ben.
04:40
Okay, that's cool.
102
264289
1609
Iso estivo ben.
04:41
Yeah, so what we do if we had you, who will get the answer,
103
265898
2593
O que fariamos con vostede,
que deu a resposta
04:44
as a participant, we would have calibrated the difficulty level
104
268491
4143
como partícipe do estudo,
sería calibrar o nivel de dificultade
dos crebacabezas
con relación á súa experiencia.
04:48
of the puzzles to your expertise.
105
272634
1959
04:50
Because we want these puzzles to be difficult.
106
274593
2080
Porque queremos que
os crebacabezas sexan difíciles.
04:52
These are tricky puzzles because your first instinct
107
276673
2512
Estes son complexos,
porque o primeiro que nos vén á cabeza
é dicir 'tulipán'.
04:55
is to say "tulip," and then you have to unstick yourself.
108
279185
4604
E logo hai que corrixirse, non?
04:59
Right? So these have been calibrated to your level of expertise.
109
283789
3497
Estes foron calibrados
tendo en conta o seu nivel
05:03
Because we want this to be difficult, and I'll tell you why momentarily.
110
287286
4024
porque o que queremos
é que sexan difíciles.
Direilles por qué nuns intres.
05:07
Now, here's another example.
111
291310
2480
Este é outro exemplo.
05:09
Anyone? It's much more difficult.
112
293790
2251
Alguén?
Este é moito máis difícil.
05:11
(Audience: Embark.) BS: Yeah, wow. Okay.
113
296041
2208
Mozo: 'Embarcar'
Baba: Si, guau! Ben
Si, este tamén é difícil.
05:14
So, yeah, so this is again difficult.
114
298249
1937
Dirán kamber, logo maker, e todo iso,
05:16
You will say "kambar," then you will have to go, "maker,"
115
300186
1710
05:17
and all that, and then you can unstick yourself.
116
301896
2025
E logo corrixiranse.
05:19
Okay, so you have 30 minutes now to solve these 15 puzzles.
117
303921
4402
Así que agora teñen 30 minutos
para resolver estes 15 crebacabezas.
05:24
Now, the question we're asking here
118
308323
2424
Agora, o que nos preguntamos
é, en termos de resultados,
05:26
is in terms of the outcome,
119
310747
2078
05:28
in terms of the number of puzzles solved,
120
312825
1808
que veñen dados polo número
de crebacabezas resoltos,
05:30
will you in the driver's seat
121
314633
2992
é se os que tomaron a decisión do té
acabarán resolvendo máis
05:33
end up solving more puzzles,
122
317625
1840
05:35
because you are in control, you could decide which tea you will choose,
123
319465
2984
porque son os que teñen o control,
05:38
or would you be better off,
124
322449
2265
ou se serán vostedes os que o fagan.
05:40
in terms of the number of puzzles solved?
125
324714
2470
05:43
And systemically what we will show,
126
327184
2868
Sistematicamente, o que demostraremos
con varios estudos
05:45
across a series of studies,
127
330052
1440
é que os que se deixaron levar,
05:47
is that you, the passengers,
128
331492
2183
05:49
even though the tea was picked for you at random,
129
333675
3630
aínda tendo en conta que
o té se escollera ao azar,
05:53
will end up solving more puzzles than you, the drivers.
130
337305
4186
resolverán máis crebacabezas
ca os que o elixiron.
05:57
We also observe another thing,
131
341491
3025
Tamén puidemos observar outra cousa
e é que vostedes, amigos,
non só resolveron un número menor,
06:00
and that is, you folks not only are solving fewer puzzles,
132
344516
2248
06:02
you're also putting less juice into the task.
133
346764
2951
senón que lle puxeron menos intención,
menor esforzo, foron menos persistentes...
06:05
Less effort, you're less persistent, and so on.
134
349715
2896
Como o sabemos?
06:08
How do you know that?
135
352611
1143
Temos dúas formas obxectivas de medida.
06:09
Well we have two objective measures.
136
353754
2569
Unha é: Canto tempo de media se emprega
intentando resolvelos?
06:12
One is, what is the time, on average, you're taking
137
356323
2871
06:15
in attempting to solve these puzzles?
138
359194
1929
06:17
You will spend less time compared to you.
139
361123
3656
Vostedes empregarán menos
comparados con vostedes.
Outra é que vostedes teñen 30 minutos
para resolvelos todos pero:
06:20
Second, you have 30 minutes to solve these,
140
364779
2048
06:22
are you taking the entire 30 minutes, or are you giving up
141
366827
1968
Empregan os 30 minutos ou paran
antes de que se acabe o tempo?
06:24
before the 30 minutes elapse?
142
368795
1529
06:26
You will be more likely to give up before the 30 minutes elapse compared to you.
143
370324
5005
Vostedes teñen máis probabilidades
de abandonar antes de que acabe o tempo
en comparación con vostedes.
06:31
So, you're putting in less juice, and therefore the outcome:
144
375337
2909
Así que están dando menos de si,
polo que o resultado é
unha menor cantidade de enigmas resoltos.
06:34
fewer puzzles solved.
145
378246
3600
Isto lévanos a pensar:
Por que pasa isto?
06:37
Now, that brings us now to, why does this happen?
146
381846
4201
E baixo que circunstancias, ou cando,
se producirán estes patróns de resultados
06:41
And under what situations, when would we see this pattern of results
147
386047
4200
06:46
where the passenger is going to show better, more favorable outcomes
148
390247
3881
nos que os que se deixan levar
obteñen mellores datos
06:50
compared to the driver?
149
394128
2740
en comparación cos que non?
Todo está relacionado co enfrontamento
ao que eu chamo o INCA,
06:52
It all has to do with when you face what I call the INCA.
150
396868
4960
06:57
It's an acronym that stands for
151
401828
2119
que é o acrónimo para a natureza
da retroalimentación que se obtén
06:59
the nature of the feedback you're getting after you've made the decision.
152
403947
4089
unha vez que se toma unha decisión.
07:03
So, if you think about it, in this particular puzzle task,
153
408036
2615
Así que se o pensan,
neste estudo en concreto,
pero podería ser investindo na bolsa,
07:06
it could happen in investing in the stock market,
154
410651
1880
07:08
very volatile out there, it could be the medical situation --
155
412531
2512
que é moi volátil,
ou nunha situación médica,
07:10
the feedback here is immediate.
156
415043
2843
a retroalimentación aquí é inmediata.
Saben a repercusión,
se resolven ou non os enigmas.
07:13
You know the feedback, whether you're solving the puzzles or not.
157
417886
3453
07:17
Right? Second, it is negative.
158
421339
2514
Por outra banda, é negativo.
07:19
Remember, the deck was stacked against you.
159
423853
2579
Lembren que as cartas
estaban na súa contra
07:22
In terms of the difficulty level of these puzzles.
160
426432
2567
no tocante á dificultade dos crebacabezas.
07:24
And this can happen in the medical domain.
161
428999
1720
Isto mesmo pode ocorrer
no campo da medicina.
07:26
For example, very early on in the treatment,
162
430719
2088
Por exemplo, nas primeiras
etapas do tratamento
07:28
things are negative, the feedback, before things become positive.
163
432807
3416
as cousas van mal,
antes de chegar a ir ben.
07:32
Right? It can happen in the stock market.
164
436223
1881
Pódelle ocorrer ao mercado de valores.
07:34
Volatile stock market, getting negative feedback that's also immediate.
165
438104
3623
Un mercado volátil con resultados
negativos tamén é inmediato.
07:37
And the feedback in all these cases is concrete.
166
441727
2856
E a retroalimentación nestes casos
é concreta, inequívoca,
07:40
It's not ambiguous; you know if you've solved the puzzles or not.
167
444583
3218
saben se resolveron
os crebacabezas ou non.
07:43
Now, the added one, apart from this immediacy,
168
447801
3954
Ademais, á parte do resultado inmediato,
negativo e concreto,
07:47
negative, this concreteness,
169
451755
3353
07:51
now you have a sense of agency.
170
455108
3896
teñen conciencia de control.
Eran responsables da súa decisión.
07:54
You were responsible for your decision.
171
459004
2970
Así que que fan?
07:57
So what do you do?
172
461974
1394
Céntranse na opción que non elixiron.
07:59
You focus on the foregone option.
173
463368
2664
08:01
You say, you know what? I should have chosen the other tea.
174
466032
3680
Pensan:
Sabes? Debín escoller o outro té.
(Risas)
08:05
(Laughter)
175
469712
3196
08:08
That casts your decision in doubt,
176
472908
2746
Isto fai que poñan en dúbida
a súa decisión,
08:11
reduces the confidence you have in the decision,
177
475654
2493
que non confíen nela,
08:14
reduces the confidence you have in the performance,
178
478147
2376
nin no seu rendemento,
08:16
the performance in terms of solving the puzzles.
179
480523
1976
no rendemento en relación
a resolver crebacabezas.
08:18
And therefore less juice into the task,
180
482499
2328
Por iso, esfórzanse menos na tarefa,
08:20
fewer puzzles solved, a less favorable outcome compared to you folks.
181
484827
4912
resolven menos enigmas
e obteñen peores resultados
en comparación cos seus compañeiros.
08:25
And this can happen in the medical domain, if you think about it.
182
489739
2408
E isto pode ocorrer no ámbito médico.
08:28
Right? A patient in the driver's seat, for example.
183
492147
2264
O paciente é o que decide, por exemplo.
Menos esforzo, o que significa manterse
08:30
Less juice, which means keeping herself or himself
184
494411
3439
08:33
less physically fit, physically active to hasten the recovery process,
185
497850
4089
menos en forma, menos activo como para
acelerar o proceso de recuperación,
que é o que se recomenda normalmente.
08:37
which is what is often advocated. You probably wouldn't do that.
186
501939
3717
Probablemente non o farían.
Polo tanto, ás veces,
cando se enfrontan ao INCA,
08:41
And therefore, there are times when you're facing the INCA,
187
505656
5139
08:46
when the feedback is going to be immediate, negative,
188
510795
3856
cando o resultado vai ser inmediato,
negativo, concreto
08:50
concrete, and you have the sense of agency,
189
514651
2456
e teñen conciencia de control,
onde están mellor é a un lado,
deixándose guiar por outra persoa.
08:53
where you're far better off taking the passenger's seat
190
517107
2984
08:55
and have someone else drive.
191
520091
3585
Comecei cun momento triste.
08:59
Now, I started off
192
523676
1168
09:00
on the somber note.
193
524844
1984
09:02
I want to finish up on a more upbeat note.
194
526828
1672
Quero rematar cun máis alegre.
Pasaron xa cinco anos,
algo máis de cinco anos,
09:04
It has now been five years, slightly more than five years,
195
528500
3412
09:07
and the good news, thank God,
196
531912
1728
e a boa nova, grazas a Deus,
é que o cancro segue remitindo.
09:09
is that the cancer is still in remission.
197
533640
4784
09:14
So it all ends well,
198
538424
2137
Así que todo acaba ben.
09:16
but one thing I didn't mention was
199
540561
2560
Unha cousa que non mencionei foi
que dende o principio do seu tratamento,
09:19
that very early on into her treatment,
200
543121
3807
09:22
my wife and I decided that we will take the passenger's seat.
201
546928
3810
a miña muller e mais eu
decidimos deixarnos levar.
09:26
And that made so much of a difference
202
550738
2244
E iso marcou moito a diferenza
09:28
in terms of the peace of mind that came with that,
203
552982
2756
en termos da tranquilidade
que nos fixo sentir.
09:31
we could focus on her recovery.
204
555738
1743
Puidemos centrarnos na súa recuperación.
09:33
We let the doctors make all the decisions,
205
557481
2968
Deixamos que fosen os médicos
os que tomasen as decisións
e cedémoslles o mando.
09:36
take the driver's seat.
206
560449
2097
09:38
Thank you.
207
562546
1743
Grazas.
(Aplausos)
09:40
(Applause)
208
564289
2803
Translated by Belén García Penerbosa
Reviewed by Mario Cal

▲Back to top

ABOUT THE SPEAKER
Baba Shiv - Neuroeconomist
Baba Shiv studies how “liking” and “wanting” shape the choices we make, and what that means in the world of marketing.

Why you should listen

Does a bottle of wine’s price tag price affect the pleasure one experiences in buying and drinking it? Does getting immediate feedback on a choice lead a person to doubt their decision? Does being denied something make people pursue it more hotly while simultaneously liking it less? Over his academic career, Baba Shiv has researched these questions in neuroeconomics, winning awards like the William O’Dell prize for an article that made a significant, long-term contribution to marketing theory and practice. Two of Professor Shiv's publications have received the Citation of Excellence from Emerald Management Reviews, and his research has been been featured on "The Tonight Show with Jay Leno" and on NPR's "Radiolab," as well as in the Financial Times, The New York Times, and The Wall Street Journal.

A professor at Stanford's Graduate School of Busines , Shiv is the director of the Strategic Marketing Management Executive Program and teaches several popular MBA courses including “The Frinky Science of the Mind” and “Entrepreneurial Ventures in Luxury Markets.” He served as the editor of the Journal of Consumer Research and is also on the editorial boards of the Journal of Consumer Psychology, Journal of Retailing, Journal of Marketing and the Journal of Marketing Research.

More profile about the speaker
Baba Shiv | Speaker | TED.com