• Dr. Daniel Krawczyk

Mental Models: Peaking Investor Curiosity

Updated: Nov 3, 2019

Mental Models Podcast - Episode #30

The Peek Effect: It comes down to the distinctiveness of how something is described and the novelty. It is a salience type of effect, in that each individual is drawn to different factors that they will attend to. By asking for a novel amount of change while panhandling, such as 17cents versus $1, research has found that an individual is more likely to respond to a request for money if they amount is unusual. Resulting in the panhandler increasing the amount of money they collect over time. Based on research by Michael Santos, from the 90's.

The example provided in the podcast by Dan of the panhandler in London 'peaked' Dan's curiosity by changing up his style of asking for money, with an impromptu musical engagement using an orange traffic cone.

Orange traffic cones can be seen in this picture just like the pan handler in London.

How to Listen:

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Understanding Behavioral Bia$: A Guide to Improving Financial Decision Making

Authored by Daniel Krawczyk, Ph.D. & George Baxter, JD, CFA 

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