Our final episode examines how the illusion of control leads investors to mistake luck for skill and ignore the role of randomness in financial outcomes. Through analysis of day trading success rates, mutual fund performance persistence, and gambling behavior, we explore the human need to find patterns in random events. The episode concludes with research on how accepting the limits of control can lead to better financial decisions and outcomes.

This episode investigates the psychological battle between our present and future selves in financial planning. Through analysis of retirement saving behavior, impulse purchasing, and long-term investment decisions, we explore why people consistently undervalue future benefits. The episode presents cutting-edge research on how technology and behavioral design can help bridge the gap between present actions and future outcomes.

This episode explores how we categorize money differently based on its source and intended use, often leading to irrational decisions. Through examination of windfall spending, credit card psychology, and investment account segregation, we reveal the hidden ways mental accounting affects financial choices. The episode includes fascinating research on how mental accounting leads to simultaneous high-interest debt and low-yield savings.

This episode examines how an abundance of investment options can lead to decision paralysis and poor choices. Through analysis of 401(k) participation rates, mutual fund selection behavior, and cryptocurrency portfolio management, we explore when more choices lead to worse outcomes. The episode presents surprising research on how limitation of options can actually improve financial decision-making and investment returns.

From Dutch tulip mania to modern cryptocurrency crashes, this episode analyzes how social proof and fear of missing out drive market bubbles. We explore the neurological basis of herd behavior in financial markets and examine how social media amplifies investment trends. The episode includes fascinating research on how professional investors' decisions are influenced by peer pressure despite their expertise.

This episode investigates why investors and consumers continue throwing good money after bad. Through examination of failed corporate mergers, cryptocurrency holdings, and real estate investments, we explore the powerful pull of sunk costs. The episode reveals how this fallacy connects to status quo bias and loss aversion, creating a perfect storm of irrational decision-making in both personal and corporate finance.

Delving into the dangerous intersection of overconfidence and investing, this episode examines how the Dunning-Kruger effect leads investors to overestimate their abilities. Through analysis of day trading statistics and amateur investor behavior during market bubbles, we uncover why minimal knowledge often breeds maximum confidence. The episode presents compelling research on how professional fund managers frequently underperform against simple index funds due to overconfidence bias.

This foundational episode explores how human psychology around money developed from ancient bartering systems to modern digital currencies. We examine the evolutionary roots of loss aversion and resource hoarding, and how these primitive instincts still influence our modern financial decisions. The episode concludes with groundbreaking research on how digital payment methods are rewiring our spending psychology and diminishing the emotional 'pain of paying.'