Well-being is the Goal with Prof. Frank Schilbach

Chalk Radio

Do you always make the best possible choices, even when you’re stressed or short on sleep? The ideally rational person (“Homo economicus”) assumed by conventional economics always acts in ways that are materially advantageous to them. But Associate Professor Frank Schilbach seeks in his research and teaching to explore the ways in which Homo economicus fails as a model of actual human behavior; in particular, Prof. Schilbach is interested in uncovering the psychological factors that influence people’s choices, even when those choices appear obviously counterproductive and irrational. In this episode, Prof. Schilbach discusses how psychologically-informed interventions can not only boost people’s productivity, earnings, and savings, but can even increase their tendency toward benevolence and cooperation. As he puts it, while economists have not ignored mental health altogether, they have tended to view it instrumentally, in terms of its effects on productivity or financial stability. It would be better, he suggests, to view mental health as valuable for its own sake, as an inherent element of overall well-being–which is why he prioritizes students’ mental health by making assignments due not first thing in the morning but at 6 or 8 PM!

Relevant Resources:

MIT OpenCourseWare

The OCW Educator Portal

Professor Schilbach’s behavioral economics course on OCW

Professor Schilbach’s faculty page

Professor Schilbach at the Abdul Latif Jameel Poverty Action Lab

Music in this episode by Blue Dot Sessions

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Credits:

Sarah Hansen, host and producer

Brett Paci, producer

Dave Lishansky, producer

Show notes by Peter Chipman

Connect with Us

If you have a suggestion for a new episode or have used OCW to change your life or those of others, tell us your story. We’d love to hear from you!

Call us @ 617-715-2517

On our site

On Facebook

On X

On Instagram

On LinkedIn

Stay Current

Subscribe to the free monthly "MIT OpenCourseWare Update" e-newsletter.

Support OCW

If you like Chalk Radio and OpenCourseware, donate to help keep these programs going!

Credits

Sarah Hansen, host and producer

Brett Paci, producer

Dave Lishansky, producer

Show notes by Peter Chipman