Hal Hershfield - Your Future Self
Hal Hershfield
Professor Hershfield’s research focuses on how the perception of time affects people's money behavior. The actionable takeaway? How we can make decisions that will contribute to the success of our future selves. Hershfield earned his PhD in psychology at Stanford University and is also the recipient of numerous teaching awards. He was recently named one of “The 40 Most Outstanding B-School Profs Under 40 In The World” by business education website Poets & Quants.
About Hal Hershfield
Hal Hershfield is a Professor of Marketing, Behavioral Decision Making, and Psychology at UCLA’s Anderson School of Management and holds the UCLA Anderson Board of Advisors Term Chair in Management.
Hal’s research sits at the intersection of psychology and economics. He examines the ways that people consider their future selves and how feelings of connection to these distant selves can impact financial decision-making over time.
Hershfield publishes in top academic journals and also contributes op-eds to the New York Times, Harvard Business Review, the Wall Street Journal, and other outlets. He consults with the Consumer Financial Protection Bureau, many global financial services firms including Fidelity, Prudential, Morgan Stanley, and Merrill Lynch, and marketing agencies such as Droga5.
Key Topics
Introduction (00:06)
How Hal decided to dedicate his professional life to helping people make better long-term decisions (02:43)
Understanding and connecting to our future selves (04:37)
Letters and thoughts to your future self (12:47)
Birthdays and how they affect behaviors (14:47)
Study on behavior of saving for future (20:16)
Spending money vs. saving it (27:27)
Money vs. time (29:43)
Joint bank accounts and financial infidelity (35:06)
Hershfield’s future projects (41:42)
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