Neil Bage - This is Your Brain on Money
This week on Standard Deviations with Dr. Daniel Crosby, Dr. Crosby is joined by Neil Bage. He is the Founder & CEO of Neurofi Behavioural Intelligence, a company applying behavioral and brain science to real-world challenges, and previously served as Chief Behavioral Officer in the UK. He is also the co-founder of a U.S. based behavioral science platform and has previously built a multi-award-winning behavioral technology firm. Neil began his career as a professional compère, commanding crowds of 2,000+ and honing the high-energy, story-driven style that now makes him a sought-after speaker. Today, he helps professionals and businesses decode the hidden drivers of human behavior, transforming the way people think, act and connect.
Tune in to hear:
What gives money such immense emotional power over us?
Does Neil think that some of the problems people have with money come from them trying to treat it as this utilitarian thing rather than tapping into the deeper subtext of it?
What does Neil think is the biggest mismatch between the brain we’ve inherited from our ancestral predecessors and the world we find ourselves navigating in the present day?
What are one or two high-level tips for helping our old brains thrive in this new world?
Why does Neil describe the brain as a prediction machine rather than a thinking machine? What are the implications of this on peoples’ financial decision making?
What role does Neil think emotion should play in financial decision making? Should we ignore or embrace emotion?
It also seems true that letting emotion lead our financial decision making too much is a mistake, so how do we strike a balance between emotion and rationality?
Why does the human brain do such a poor job of relating to its future self?
If Neil could correct one misunderstanding that financial advisors have about human behavior, what would it be?
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