421. Behavioral Science and Democracy w/ Beatriz Vallejo

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

In this episode of The Brainy Business podcast, Melina Palmer is joined by Beatriz Vallejo, CEO of Ethos BT, to discuss the impactful work of reducing misinformation and polarization in Colombia using behavioral science. Beatriz, a behavioral scientist and economist, shares her journey from studying economics in Colombia to completing a master's in behavioral change at UCL, focusing on the factors that lead to the belief and spread of fake news. The conversation visits her extensive research on misinformation, the psychological factors influencing it, and the innovative Detox Information Project aimed at mitigating these issues.

Beatriz highlights the importance of understanding psychological factors like dehumanization, distrust, discrimination, and low tolerance to ambiguity, which contribute to the spread of misinformation. The episode also explores the success of various interventions, including personality tests and social experiment videos, which have proven to reduce misinformation vulnerability by 30%. This episode is a treasure trove of insights for anyone interested in behavioral science, misinformation, and societal improvement, showcasing the significant impact of behavioral interventions in real-world settings.

In this episode:

• Discover the psychological factors contributing to misinformation and polarization in Colombia.
• Learn about the Detox Information Project and its innovative approach to reducing fake news.
• Understand the importance of research and data in designing effective behavioral interventions.
• Gain insights into the challenges and successes of applying behavioral science in diverse contexts.
• Get inspired by Beatriz Vallejo's journey and her impactful work in behavioral science.

Show Notes:

00:00:00 - Introduction Melina introduces Beatriz Vallejo, CEO of Ethos BT, and highlights her work in behavioral science and misinformation.

00:05:20 - Beatriz's Background Beatriz shares her academic journey from studying economics in Colombia to completing a master's in behavioral change at UCL.

00:10:45 - Initial Research on Fake News Beatriz discusses her master's thesis on the psychological factors related to believing and sharing fake news in Colombia.

00:15:30 - The Detox Information Project Beatriz introduces the Detox Information Project, aimed at reducing misinformation through behavioral science interventions.

00:20:15 - Key Psychological Factors Beatriz explains the four psychological factors—dehumanization, distrust, discrimination, and low tolerance to ambiguity—that contribute to misinformation vulnerability.

00:25:50 - Effective Interventions Beatriz discusses the success of personality tests and social experiment videos in reducing misinformation vulnerability by 30%.

00:30:35 - Challenges in Behavioral Science Beatriz shares the challenges of convincing stakeholders to invest in research and the importance of understanding the problem before designing solutions.

00:35:50 - Tips for Aspiring Behavioral Scientists Beatriz offers advice for those looking to make an impact in behavioral science, emphasizing the importance of networking and continuous learning.

00:40:25 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.

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Connect with Beatriz:

• Beatriz on LinkedIn
• Detox Information Project
• Beatriz on X

Learn and Support The Brainy Business:

Check out and get your copies of Melina’s Books.

Get the Books Mentioned on (or related to) this Episode:

• Foolproof, by Sander van der Linden
• May Contain Lies, by Alex Edmans
• The Voltage Effect, by John List
• Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded Netzer
• What Your Employees Need and Can't Tell You, by Melina Palmer

Top Recommended Next Episode: Carlos Hoyos Interview (ep 285)

Already Heard That One? Try These:

• Sander van der Linden Interview (ep 337)
• BE OEFA Interview (ep 195)
• Ambiguity / Uncertainty Aversion (ep 243)
• Confirmation Bias (ep 260)
• The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126)

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Brainy Bites - Melina’s LinkedIn Newsletter