Economics and Life Hacks: Using Economic Thinking to Make Better Decisions (Part 1)
From Choosing Better by Enoch Hill and Tim Taylor
January 16, 2026 · 46 min · Season 3 · Episode 43
About this episode
The episode discusses how economic thinking can enhance decision-making by exploring common pitfalls.
How can thinking like an economist improve your decision-making? Join Enoch and Tim as they discuss several common pitfalls people fall into in making decisions. Whether it’s buying and selling stocks, choosing to start a business, or simply deciding to keep reading an arduous novel, we often make irrational decisions. Sunk costs, loss aversion, and the endowment effect are explored in this first of a multiple episode series on using economic thinking to improve your decisions. Credits : Drew Elliot (music) with additional thanks to the Wheaton Center for Faith, Politics & Economics . Recording Date : November 20, 2025
People in this episode
Hosts: Enoch Hill, Tim Taylor
Topics covered
- economic thinking
- decision-making
- irrational decisions
- sunk costs
- loss aversion
- endowment effect
Keywords
- economics
- decision-making
- sunk costs
- loss aversion
- endowment effect
- life hacks
- irrational decisions
Mentioned in this episode
Organizations: Wheaton Center for Faith, Politics & Economics
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