Social Science Bites

Which piece of social science research has most inspired or most influenced you?

This question has been posed to every interview in the Social Science Bites podcast series, but never made part of the audio file made public. Now, as we approach the 50th Social Science Bite podcast to be published this March 1, journalist and interviewer David Edmonds has compiled those responses into three separate montages of those answers.

In this first of that set of montages, 15 renowned social scientists – starting in alphabetical order from all who have participated – reveal their pick. As you might expect, their answers don’t come lightly: “Whoah, that’s an interesting question!” was sociologist Michael Burawoy’s initial response before he named an éminence grise – Antonio Gramsci – of Marxist theory for his work on hegemony.

The answers range from other giants of social, behavioral and economic science, such as John Maynard Keynes and Hannah Arendt, to living legends like Robert Putnam and the duo of Richard Thaler and Cass Sunstein (and even one Social Science Bites alumnus, Stephen Pinker). Some of the answers involve an academic’s full oeuvre, while others zero in on a particular book or effort. John Brewer, for example, discusses his own background in a Welsh mining town and how when he went to college he encountered Ronald Frankenberg’s Communities in Britain: Social Life in Town and Country. “That book made sense of my upbringing and committed me to a lifetime’s career in sociology,” Brewer reveals.

And not every answer is a seminal moment. Danny Dorling, for example, names a report by his Ph.D. adviser, computational geographer Stan Openshaw, who took two unclassified government reports to show the futility of nuclear war. And not every answer is even an academic work. Recent Nobel laureate Angus Deaton reveals, “I tend to like the last thing I’ve ever read,” and so at the time of our interview (December 2013), named a journalist’s book: The Idealist by Nina Munk.

Other Bites interviewees in this podcast include Michelle Baddeley, Iris Bohnet, Michael Billig, Craig Calhoun, Ted Cantle, Janet Carsten, Greg Clark, Ivor Crewe, Valerie Curtis, Will Davis and Robin Dunbar.

Direct download: MontageAMixSesM.mp3
Category:general -- posted at: 3:00am PDT

Human beings are social animals, notes economist Michelle Baddeley, and as such the instinct to herd is hardwired into us. And so while this has changed from (in most cases) physically clumping into groups, it does translate into behavior linked to financial markets, news consumption, restaurant-picking and Brooklyn facial hair decisions.

In this latest Social Science Bites podcast, Baddeley – a professor in economics and finance of the built environment at University College London -- tells interviewer David Edmond how modern herding often follows from an information imbalance, real or perceived, in which a person follows the wisdom of crowds. The decision to join in, she explains, is often based an astute reading of risk; as she quotes John Maynard Keynes, “It’s better to be conventionally wrong than unconventionally right.” As a real world example of that, she points to the plight of the junior researcher, whose career is best advanced by serving up their innovative insights along conventional lines.

Apart from reputational damage control, there are pluses and minuses to human herding, Baddeley notes there are advantages to finding safety in numbers: “It’s a good way to find a hotel.” But there are pernicious outcomes, too, like groupthink. In that vein, the economist says she finds partisan herding “more prevalent in a ‘post truth age,’” as individuals join thought groups that reinforce their existing world-view. And it doesn’t help, her research finds, that people are more likely to herd the less well-informed they are.

This has also had dire consequences in financial markets (Baddeley was principal investigator on a Leverhulme Trust project focused on neuroeconomic examination of herding in finance), where pushing against the grain makes for a short career for anyone other than the luckiest professional stockpicker.

Baddeley’s early education was in Australia and her first professional work was as an economist with the Australian Commonwealth Treasury. She then completed masters and doctorate work at Cambridge. Her most recent book is 2013’s Behavioural Economics and Finance  and other works include Running Regressions - A Practical Guide to Quantitative Research (2007) and Investment: Theories and Analysis (2003).

Direct download: BaddeleyMixSesM.mp3
Category:general -- posted at: 3:00am PDT