Podcast

Freakonomics Radio

Stephen J. Dubner and WNYC Studios

Society & Culture

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In their books "Freakonomics," "SuperFreakonomics" and "Think Like a Freak", Steven D. Levitt and Stephen J. Dubner explore "the hidden side of everything," telling stories about cheating schoolteachers and eating champions while teaching us all to think a bit more creatively, rationally, and productively. The Freakonomics Radio podcast, hosted by Dubner, carries on that tradition with weekly episodes. Prepare to be enlightened, engaged, perhaps enraged, and definitely surprised.

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How do so many ineffective and even dangerous drugs make it to market? One reason is that clinical trials are often run on "dream patients" who aren't representative of a larger population. On the other hand, sometimes the only thing worse than being excluded from a drug trial is being included.

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We tend to think of medicine as a science, but for most of human history it has been scientific-ish at best. In the first episode of a three-part series, we look at the grotesque mistakes produced by centuries of trial-and-error, and ask whether the new era of evidence-based medicine is the solution.

The restaurant business model is warped: kitchen wages are too low to hire cooks, while diners are put in charge of paying the waitstaff. So what happens if you eliminate tipping, raise menu prices, and redistribute the wealth? New York restaurant maverick Danny Meyer is about to find out.

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How to Make a Bad Decision

November 17th, 2016

Some of our most important decisions are shaped by something as random as the order in which we make them. The gambler's fallacy, as it's known, affects loan officers, federal judges -- and probably you too. How to avoid it? The first step is to admit just how fallible we all are.