WEBVTT - From the Vault: The Seven Day Week, Part 2

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<v Speaker 1>Hey, are you welcome to Stuff to Blow your Mind?

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<v Speaker 1>This is Robert Lamb and this is Joe McCormick, and

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<v Speaker 1>it's Saturday. Time to go into the vault for an

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<v Speaker 1>older episode of Stuff to Blow Your Mind. This episode

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<v Speaker 1>is part two of our series on the Seven Day Week,

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<v Speaker 1>and it originally published on March five. Enjoy Welcome, Just

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<v Speaker 1>about to Blow your Mind production of My Heart Radio.

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<v Speaker 1>Hey you welcome to Stuff to Blow your Mind. My

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<v Speaker 1>name is Robert Lamb and I'm Joe McCormick, and we're

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<v Speaker 1>back with part two of our series on the seven

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<v Speaker 1>day Week. What is it? Where did it come from? What?

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<v Speaker 1>What's it doing in our brains? All right now? When

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<v Speaker 1>we cut off in the previous part of this series

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<v Speaker 1>about the week, you were talking a bit about some

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<v Speaker 1>sources you were reading about the history of the week,

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<v Speaker 1>where the seven day week comes from. Because obviously, you know,

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<v Speaker 1>one of the main things we talked about in the

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<v Speaker 1>last episode is that other major blocks that we use

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<v Speaker 1>for measuring times, such as the month, the year, and

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<v Speaker 1>the day, are all based on facts about nature, usually

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<v Speaker 1>about astronomy. You know, how the Earth moves, Earth moves

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<v Speaker 1>around the Sun, or how the moon moves around the Earth,

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<v Speaker 1>but the week has no such basis in physical reality.

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<v Speaker 1>It's an artificial construction, with the possible exception that some

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<v Speaker 1>people think there may be some underlying biological UH rhythms

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<v Speaker 1>that contribute to it. One hypothesis that's been offered is

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<v Speaker 1>the menstrual cycle or things like that, but it's hard

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<v Speaker 1>to know for sure. So we know at least that

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<v Speaker 1>the week is not based in astronomy. So where does

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<v Speaker 1>it come from historically? Yeah, And in that we were

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<v Speaker 1>getting into this idea of the market week. The time

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<v Speaker 1>it takes for vegetables or fruit to UH to travel

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<v Speaker 1>in from market UH, be sold in, mark it, and

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<v Speaker 1>then for UH the individuals who brought it there to

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<v Speaker 1>return then to the fields. Um. This would be just

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<v Speaker 1>a basic market cycle, a market week. UH. And one

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<v Speaker 1>of the sources that I was discussing here was um

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<v Speaker 1>Avatar Zerubaville is the seven day circle. UM, So you know,

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<v Speaker 1>point the author here points to the ten day market

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<v Speaker 1>week of ancient Southern China, various other systems as well,

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<v Speaker 1>because again there's nothing set in stone about it taking

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<v Speaker 1>seven days to reach any given market anywhere in the world.

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<v Speaker 1>It's going to vary obviously. Uh, so you have you

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<v Speaker 1>have different systems that were in place, the ten day system.

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<v Speaker 1>We also see the eight day system that emerged in

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<v Speaker 1>what is now Italy. This is the Etruscan system. And

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<v Speaker 1>so the Truscan system that that the name of that

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<v Speaker 1>would come from the Etruscan culture, a culture that inhabited

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<v Speaker 1>the Italian peninsula before the Roman period, right, and then

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<v Speaker 1>the Romans would of course inherit the Intruscan system, and

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<v Speaker 1>this eventually became the internudenum tempests, or the period between

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<v Speaker 1>the ninth day affairs, which Zaruberville rights involves the Roman

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<v Speaker 1>practice of inclusive counting, in which the last day of

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<v Speaker 1>one cycle is the first day of the next. So

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<v Speaker 1>this involves a market day held every eight days. Market

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<v Speaker 1>and social life revolved around this market day, and schools

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<v Speaker 1>and courts were closed for that day as well. It

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<v Speaker 1>was also a day to set work aside to go

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<v Speaker 1>to the baths um, and the cap limit for guests

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<v Speaker 1>was raised as well, so you could have more people

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<v Speaker 1>over on this market day. Now, the decline of the

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<v Speaker 1>eight day week, the author rights, coincided with the expansion

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<v Speaker 1>of Rome. It simply became too big for this system.

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<v Speaker 1>To logistically work anymore. Um, and you know this comes

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<v Speaker 1>down to the fact that a true urban economy ends

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<v Speaker 1>up demanding continuous commerce. But this this was interesting as well.

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<v Speaker 1>I'm gonna read a quote from the seven Day Circle here. Quote. Coincidentally,

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<v Speaker 1>the astrological and Christians seven day weeks that had just

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<v Speaker 1>been introduced into Rome were also becoming increasingly popular. There

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<v Speaker 1>is evidence indicating that the Roman eight day week and

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<v Speaker 1>those two seven day cycles were used simultaneously for some time. However,

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<v Speaker 1>the coexistence of two weekly rhythms that were entirely out

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<v Speaker 1>of phase with one another obviously could not be sustained

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<v Speaker 1>for long. One of them clearly had to give way.

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<v Speaker 1>As we all know, it was the eight day week

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<v Speaker 1>that soon disappeared from the pages of history forever. Okay,

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<v Speaker 1>so you're positing a time here where there exists such

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<v Speaker 1>things as weeks, sort of like the weeks we imagined,

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<v Speaker 1>but not everybody's using the same weeks at the same time,

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<v Speaker 1>so they're just sort of like overlapping different systems that

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<v Speaker 1>different people are using, which sounds incredibly chaotic and not

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<v Speaker 1>especially useful. Yeah, yeah, because it's it's it's hard to

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<v Speaker 1>exactly imagine what this would have been like, because we

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<v Speaker 1>think the week is just set in stone, it's just

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<v Speaker 1>this this grid work that arranges our lives. But too

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<v Speaker 1>and and then I'm tempted to try and think of it, Well,

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<v Speaker 1>maybe would be like using both uh, you know, pounds

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<v Speaker 1>and uh and and and grahams or something, you know,

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<v Speaker 1>having to to use two different systems of measurement. But

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<v Speaker 1>it's not quite that either, because because there's still like,

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<v Speaker 1>you know, there's still a certain length to um uh

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<v Speaker 1>you know, to to some fencing or care at, etcetera. Um.

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<v Speaker 1>But but when you're dealing with with time here and

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<v Speaker 1>you're dealing with these market cycles, it it seems like

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<v Speaker 1>you would just you know, would just be this confusing

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<v Speaker 1>arrangement to have these two or more overlapping systems of

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<v Speaker 1>different different amounts of time. Well, it's a big difference,

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<v Speaker 1>is that. Say, if you're converting from standard to metric,

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<v Speaker 1>there's a fixed conversion rate. It's not like how many

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<v Speaker 1>pints go into a leader changes every day. But if

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<v Speaker 1>you but if you have weeks of different numbers of

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<v Speaker 1>days and everybody's not on the same one, you can't

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<v Speaker 1>just line it up and say, oh, okay, this day

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<v Speaker 1>in our cycle is the is this other day and

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<v Speaker 1>somebody else's cycle. It would change every cycle because they're

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<v Speaker 1>not the same numbers, right, Like imagine like thinking back

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<v Speaker 1>on on like TV. Uh, just like TV programs and

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<v Speaker 1>TV schedules like what you of NBC and CBS, um

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<v Speaker 1>had not only like different schedules of what's coming out,

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<v Speaker 1>but they had different calendars, like different days of the week,

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<v Speaker 1>Like one did an eight day cycle and the other

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<v Speaker 1>one day to seven day cycle. Like that would be

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<v Speaker 1>that would be incredibly confusing, you know, trying to figure

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<v Speaker 1>out like what what is on what day and what

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<v Speaker 1>is opposite another show. It's it's it's just like again,

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<v Speaker 1>it's it's it's interesting to try and imagine what this

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<v Speaker 1>would have been like. But if I'm understanding zarubaval right

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<v Speaker 1>in this quote, what he's saying is that, um, so

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<v Speaker 1>you had this original sort of eight day cycle, the

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<v Speaker 1>Etruscan system that was inherited by the Romans, but then

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<v Speaker 1>you had these other systems of seven day weeks, the

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<v Speaker 1>the astrological, the Roman astrological even day week, and the

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<v Speaker 1>Christians seven day week, which I believe would be inherited

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<v Speaker 1>at least in part from the from the Jewish Sabbath observance. Yeah.

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<v Speaker 1>That that all this being said, it is important to

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<v Speaker 1>realize that there is still a reality to a market

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<v Speaker 1>week cycle. In many cases, you know, you have other

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<v Speaker 1>four forces haven't changed what's happening with people actually bringing

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<v Speaker 1>in crops and in the in the economic activities surrounding

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<v Speaker 1>the sale of those crops. Um. Then even if you

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<v Speaker 1>end up adopting, say a seven day week, you can

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<v Speaker 1>still see these other market cycles uh, coexisting with it.

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<v Speaker 1>And he points to some examples of this, points out

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<v Speaker 1>that both Christian and Islamic use of the seven day

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<v Speaker 1>week heavily influenced the continent of Africa. But you still

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<v Speaker 1>see four day market cycles in parts of Africa, as

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<v Speaker 1>well as eight and sixteen day weeks as well. So

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<v Speaker 1>these e can amic rhythms in many cases still remain

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<v Speaker 1>um or even if those economic rhythms shift like they're

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<v Speaker 1>still not gonna necessarily, uh you know, conform completely to

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<v Speaker 1>the seven day week cycle that has been superimposed on

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<v Speaker 1>a region. Now, he he points to in uh, some

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<v Speaker 1>other week cycles that are that are pretty interesting. He points, uh,

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<v Speaker 1>for instance, to the nineteen day be High cycle of

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<v Speaker 1>social and religious activity who was introduced in eighteen forty

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<v Speaker 1>four by the Persian prophet uh Saeed Ali Mohammed, also

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<v Speaker 1>known as Bob b a b Uh. It's generally spelled

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<v Speaker 1>in English. UH. Nineteen is apparently a mystical number in

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<v Speaker 1>the Behigh faith. And we see that in the use

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<v Speaker 1>of a nineteen week year in the Behidh faith as

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<v Speaker 1>well as a nineteen year va head um. And then

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<v Speaker 1>three hundred sixty one years make a cooler shay. And

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<v Speaker 1>that's because nineteen times nineteen equals three d sixty one uh.

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<v Speaker 1>So UM, all that's interesting as well. Here's an entire

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<v Speaker 1>stem that's based on nineteen four mystical purposes UH, spiritual

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<v Speaker 1>purposes uh, similar to the the adoption of the seven

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<v Speaker 1>within uh. You know, the the cycle that we we

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<v Speaker 1>know and are immersed in. He also mentions that the Maya,

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<v Speaker 1>on the other hand, used a twenty day um unital,

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<v Speaker 1>which was the quote cornerstone of the entire Maya time

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<v Speaker 1>measuring system. UH. The Mayan and the Aztecs solar calendars

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<v Speaker 1>consisted of three hundred and sixty five days, made up

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<v Speaker 1>essentially of eighteen twenty day weeks plus five blank days. UH.

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<v Speaker 1>They also had a two hundred sixty day UH divination

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<v Speaker 1>calendar year that was used exclusively for divination. There's also

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<v Speaker 1>a ninth century Indonesian system that he mentions that they

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<v Speaker 1>made use of both a five day market week. Six

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<v Speaker 1>five and seven day weeks were used then to chronicle events,

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<v Speaker 1>and the Indonesian system had several uses, but the main function,

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<v Speaker 1>according to Zarubaville, was divination. UH. There were the right

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<v Speaker 1>days to do various things, both inherently sacred things such

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<v Speaker 1>as say, bearing the dead, and things that we might

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<v Speaker 1>think of in you know, sort of modern life as

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<v Speaker 1>being mundane things like moving or starting a new business,

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<v Speaker 1>but of course, within the confines of a given culture,

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<v Speaker 1>those things too may be considered highly sacred. So these

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<v Speaker 1>are more examples of the what we talked about in

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<v Speaker 1>the last episode, which is that you know it it

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<v Speaker 1>depends on how you define a week to say where

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<v Speaker 1>the week comes from. Because there's there's a history you

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<v Speaker 1>can track of our current unbroken system of seven day cycles,

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<v Speaker 1>but there also have been just lots of other things

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<v Speaker 1>throughout the world throughout history that subdivided the month into

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<v Speaker 1>some number of days. But it wasn't necessarily the same

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<v Speaker 1>as our seven day week, right, And and I think

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<v Speaker 1>it's interesting to think about how, on on one hand,

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<v Speaker 1>you have very practical, very real world considerations and arranging

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<v Speaker 1>these days into weeks uh and and saying well, I

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<v Speaker 1>need to know what we're calling four days from today.

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<v Speaker 1>I need to know what we're calling eight days from

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<v Speaker 1>today so that I can plan things out. But then

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<v Speaker 1>also getting into this divination area of well, is there

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<v Speaker 1>something about the day after tomorrow that makes it more

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<v Speaker 1>appropriate for me to do this act or this other

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<v Speaker 1>act or to make a certain decision on that day. Um,

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<v Speaker 1>And you kind of get into the sort of the

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<v Speaker 1>roots of divination that we've discussed on the show before,

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<v Speaker 1>where it becomes this kind of um system that you know,

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<v Speaker 1>you may and it certainly entails supernatural ideas about seeing

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<v Speaker 1>into the future and using imploying luck uh and uh

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<v Speaker 1>and you know perhaps the uh you know, the good

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<v Speaker 1>will of various deities. But it also is about like

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<v Speaker 1>making uh, making space for decision and like helping decisions

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<v Speaker 1>be made and and and in introducing randomness in some cases. Yeah.

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<v Speaker 1>Actually got me wondering about the same thing, about whether

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<v Speaker 1>a cycle of days in a week, whether that's seven

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<v Speaker 1>days or whatever other number. Just having a named day

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<v Speaker 1>within the cycle could aid in productivity and in spurring action,

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<v Speaker 1>uh instead as opposed to say, defferring action forever, because

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<v Speaker 1>if you live in a system where you don't have

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<v Speaker 1>named days within a cycle. Again, I don't know this,

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<v Speaker 1>I don't have direct evidence of it, but I wonder

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<v Speaker 1>if that's sort of just um would allow you to have, well,

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<v Speaker 1>you have right now and then maybe you have a

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<v Speaker 1>concept like tomorrow, and then beyond that you've just got

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<v Speaker 1>the future. And so like it does having a named

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<v Speaker 1>day that's, you know, a predictable number of days ahead

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<v Speaker 1>of now allow you to plan action in a way

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<v Speaker 1>that you're more likely to follow through on an execute. Yeah,

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<v Speaker 1>I mean it reminds me of some studies that I've

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<v Speaker 1>I've seen about the importance of having deadlines just for

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<v Speaker 1>productivity reasons. And I mean to a certain extent. I

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<v Speaker 1>guess this varies depending on what one's you know, job is,

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<v Speaker 1>what one's industry is. But the basic seven day week

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<v Speaker 1>kind of has a built in deadline like Friday is,

0:13:05.960 --> 0:13:08.440
<v Speaker 1>at least to a certain extent, always a deadline. Like

0:13:08.480 --> 0:13:13.320
<v Speaker 1>it's assuming again that you have a job where you

0:13:13.360 --> 0:13:15.800
<v Speaker 1>don't have to work on Saturday and Sunday, like that's

0:13:15.840 --> 0:13:18.400
<v Speaker 1>the last day of the week. So in many cases

0:13:18.440 --> 0:13:20.439
<v Speaker 1>you're trying to get something done, you're trying to reach

0:13:20.520 --> 0:13:23.120
<v Speaker 1>like some level of finality, right, or at least it

0:13:23.240 --> 0:13:27.520
<v Speaker 1>leans it's it allows you to lean into that interpretation anyway. Yeah, yeah,

0:13:27.559 --> 0:13:29.800
<v Speaker 1>well it at least it gives you a principle on

0:13:29.840 --> 0:13:33.200
<v Speaker 1>which to organize those those timelines. I mean again, I

0:13:33.200 --> 0:13:36.080
<v Speaker 1>wonder like if we didn't have weeks and we just

0:13:36.400 --> 0:13:39.719
<v Speaker 1>you know, just worked whenever, and you were like, how

0:13:39.720 --> 0:13:41.400
<v Speaker 1>long is it gonna take me to do this? I mean,

0:13:41.400 --> 0:13:43.240
<v Speaker 1>how how long do we We would usually say I

0:13:43.320 --> 0:13:46.240
<v Speaker 1>don't know, one week, two weeks, and what would you

0:13:46.240 --> 0:13:48.680
<v Speaker 1>say that I'm gonna say, thirteen days is how long

0:13:48.679 --> 0:13:52.280
<v Speaker 1>it will take me. Yeah, there's something weird about like

0:13:52.280 --> 0:13:54.959
<v Speaker 1>a thirteen day estimate on something, right, Why why not

0:13:55.040 --> 0:13:59.480
<v Speaker 1>bump it up to fourteen days? Like it would seem

0:13:59.480 --> 0:14:02.520
<v Speaker 1>equally wrong to give a fifteen day estimate on something

0:14:02.520 --> 0:14:04.560
<v Speaker 1>like why is it taking two weeks in one day?

0:14:04.679 --> 0:14:07.080
<v Speaker 1>Why can't it just take two weeks? That just seems

0:14:07.080 --> 0:14:16.160
<v Speaker 1>like trolling. Yeah, well, maybe here is a good place

0:14:16.200 --> 0:14:20.240
<v Speaker 1>to come back to some psychology research about the effects

0:14:20.320 --> 0:14:24.000
<v Speaker 1>of the week, because in the previous episode I mentioned

0:14:24.040 --> 0:14:27.760
<v Speaker 1>a psychology paper that looked into what it called mental

0:14:27.920 --> 0:14:31.080
<v Speaker 1>representations of week days. This was by Ellis at All,

0:14:31.680 --> 0:14:33.600
<v Speaker 1>and we talked about it in the context of the

0:14:33.640 --> 0:14:36.440
<v Speaker 1>idea that while the week is broken into different types

0:14:36.480 --> 0:14:40.120
<v Speaker 1>of days, weekends and week days, each day is also

0:14:40.200 --> 0:14:43.880
<v Speaker 1>its own distinct concept, and this paper examined this in

0:14:43.920 --> 0:14:47.160
<v Speaker 1>a number of ways. Overall, I'd say it's findings would

0:14:47.200 --> 0:14:50.480
<v Speaker 1>be not very surprising to anybody who's ever been to

0:14:50.520 --> 0:14:53.160
<v Speaker 1>school or had a full time job that was organized

0:14:53.160 --> 0:14:56.120
<v Speaker 1>on regular bank hours. But it's good to have that

0:14:56.200 --> 0:14:58.880
<v Speaker 1>information anyway, because a lot of times, you know, I

0:14:59.240 --> 0:15:02.000
<v Speaker 1>often have this thought where like, you do a study

0:15:02.080 --> 0:15:04.800
<v Speaker 1>and then the results come back and people say, like,

0:15:05.200 --> 0:15:07.320
<v Speaker 1>that's obvious. Why do you need to do a study

0:15:07.360 --> 0:15:10.800
<v Speaker 1>to know that. It's like, well, because if you if

0:15:10.800 --> 0:15:12.760
<v Speaker 1>you just go by your assumptions all the time, you're

0:15:12.760 --> 0:15:14.720
<v Speaker 1>actually going to turn out to be wrong a good bit,

0:15:14.840 --> 0:15:18.680
<v Speaker 1>so it's worth checking. But it did find that, for example,

0:15:18.680 --> 0:15:21.440
<v Speaker 1>people were most conscious of what day it was on

0:15:21.520 --> 0:15:24.960
<v Speaker 1>Mondays and on Fridays, as measured by reaction times when

0:15:24.960 --> 0:15:27.720
<v Speaker 1>asked to name the day, it found that people were

0:15:27.720 --> 0:15:30.640
<v Speaker 1>most likely to feel like it was the wrong day.

0:15:30.680 --> 0:15:32.360
<v Speaker 1>I feel like it was a different day than it

0:15:32.480 --> 0:15:35.800
<v Speaker 1>was on days that were in the midweek, so Tuesday, Wednesday,

0:15:35.800 --> 0:15:39.120
<v Speaker 1>and Thursdays. That's also not very surprising. Those are sort

0:15:39.120 --> 0:15:41.440
<v Speaker 1>of the the middle days, the days that are you know,

0:15:41.480 --> 0:15:43.960
<v Speaker 1>easy to get lost in the shuffle. It found that

0:15:44.000 --> 0:15:48.360
<v Speaker 1>in terms of affective response, people really really like Fridays

0:15:48.440 --> 0:15:51.520
<v Speaker 1>and really dislike Mondays, and the other days in between

0:15:51.960 --> 0:15:55.720
<v Speaker 1>basically just kind of slope up and down between those extremes.

0:15:56.240 --> 0:15:58.760
<v Speaker 1>And of course the standard note that these responses, as

0:15:58.760 --> 0:16:01.800
<v Speaker 1>well as the ones in the um UH studies I'm

0:16:01.840 --> 0:16:04.760
<v Speaker 1>about to mention here are are primarily, I think from

0:16:04.800 --> 0:16:08.400
<v Speaker 1>industrialized societies in North America and Europe, where the seven

0:16:08.480 --> 0:16:11.160
<v Speaker 1>day work week is highly salient. I have no way

0:16:11.240 --> 0:16:14.040
<v Speaker 1>to prove it, but I strongly suspect that you would

0:16:14.120 --> 0:16:17.120
<v Speaker 1>not find these same patterns at all if you were

0:16:17.160 --> 0:16:21.280
<v Speaker 1>to exclusively survey populations that were less connected to this

0:16:21.360 --> 0:16:25.960
<v Speaker 1>type of of economic work cycle, for example, rural farmers

0:16:26.120 --> 0:16:30.080
<v Speaker 1>or hunter gatherers. But since then, I just wanted to

0:16:30.080 --> 0:16:32.280
<v Speaker 1>talk about a bunch more studies. I was looking at

0:16:32.640 --> 0:16:35.440
<v Speaker 1>about the days of the week and how we represent

0:16:35.520 --> 0:16:37.320
<v Speaker 1>them in our brains, how we feel about them, and

0:16:37.360 --> 0:16:41.280
<v Speaker 1>how they affect our behavior. Uh So, a couple that

0:16:41.320 --> 0:16:44.680
<v Speaker 1>I looked at had to do with people's feelings about

0:16:44.760 --> 0:16:46.400
<v Speaker 1>days of the week, following up on that, you know

0:16:46.480 --> 0:16:49.560
<v Speaker 1>idea from the previous study that people like Fridays, they

0:16:49.560 --> 0:16:52.200
<v Speaker 1>don't like Mondays. So one study I looked at was

0:16:52.240 --> 0:16:57.040
<v Speaker 1>from twenty eleven published in Psychological Reports by Charles s Irany,

0:16:57.160 --> 0:17:01.920
<v Speaker 1>Mitchell Burger, and Natalina as Latevska uh called factors affecting

0:17:01.920 --> 0:17:05.320
<v Speaker 1>the extent of Monday Blues evidence from a meta analysis.

0:17:05.560 --> 0:17:08.120
<v Speaker 1>This was a meta analysis that looked at a bunch

0:17:08.160 --> 0:17:11.919
<v Speaker 1>of samples from previous studies that tracked both mood and

0:17:12.119 --> 0:17:14.080
<v Speaker 1>days of the week and tried to see if there

0:17:14.080 --> 0:17:17.439
<v Speaker 1>were correlations. And they said they did find evidence of

0:17:17.480 --> 0:17:21.160
<v Speaker 1>a small but reliable quote Monday blues effect, so people

0:17:21.200 --> 0:17:24.600
<v Speaker 1>had worse moods on Mondays, but the size of the

0:17:24.640 --> 0:17:29.320
<v Speaker 1>effect varied greatly depending on what types of demographic groups

0:17:29.320 --> 0:17:32.880
<v Speaker 1>featured in the sample. So for contrasts, they mentioned that

0:17:33.119 --> 0:17:38.040
<v Speaker 1>samples focused on university students showed a large and consistent

0:17:38.200 --> 0:17:42.920
<v Speaker 1>Monday Blues effect. College students really hated Mondays, whereas samples

0:17:43.080 --> 0:17:46.359
<v Speaker 1>limited to a smaller, different cohort. The one they single

0:17:46.400 --> 0:17:49.639
<v Speaker 1>out is married men who were not students showed a

0:17:49.800 --> 0:17:52.879
<v Speaker 1>smaller effect. It was still there, but much smaller and

0:17:52.920 --> 0:17:56.760
<v Speaker 1>with greater variation between the samples. Rob, does this track

0:17:56.840 --> 0:17:59.600
<v Speaker 1>with your experience that you hated Mondays more when you

0:17:59.640 --> 0:18:04.040
<v Speaker 1>were like a college student or younger in general? Yeah? Yeah,

0:18:04.119 --> 0:18:06.240
<v Speaker 1>and it. I mean, it's it's easy to sort of

0:18:06.280 --> 0:18:10.200
<v Speaker 1>fall on on sort of stereotypes when thinking about this.

0:18:10.280 --> 0:18:12.239
<v Speaker 1>You know, you think of like the college student is

0:18:12.840 --> 0:18:15.960
<v Speaker 1>is out partying all weekend and then open and they've

0:18:15.960 --> 0:18:18.679
<v Speaker 1>got to go to class Monday morning, and uh and

0:18:18.800 --> 0:18:24.359
<v Speaker 1>the married adult is maybe not partying all weekend. Um yeah,

0:18:24.440 --> 0:18:28.000
<v Speaker 1>I um, I don't. I don't think I ever remembered

0:18:28.040 --> 0:18:30.840
<v Speaker 1>necessarily just hating Mondays. But if I if I didn't

0:18:30.840 --> 0:18:33.639
<v Speaker 1>like my job, then I was probably adverse to to

0:18:33.720 --> 0:18:37.440
<v Speaker 1>going back on Monday to work there. I feel like nowadays, though,

0:18:38.560 --> 0:18:41.480
<v Speaker 1>like Monday I really don't have a problem with in

0:18:41.560 --> 0:18:43.800
<v Speaker 1>large part because I feel like I'm actually well rested

0:18:43.840 --> 0:18:48.639
<v Speaker 1>on a Monday, whereas I'm i'm less' not that I'm

0:18:48.680 --> 0:18:51.199
<v Speaker 1>i'm like losing a lot of sleep, but during the

0:18:51.240 --> 0:18:53.080
<v Speaker 1>course of the week, I feel like I kind of

0:18:53.080 --> 0:18:55.440
<v Speaker 1>steadily lose a little bit of sleep towards the end,

0:18:55.720 --> 0:18:58.840
<v Speaker 1>so that Fridays I'm a little more worn out. Um,

0:18:58.880 --> 0:19:00.480
<v Speaker 1>and then I catch up on my leap over the

0:19:00.480 --> 0:19:02.880
<v Speaker 1>weekend and by Monday, I'm good to go. Yeah, that's

0:19:02.920 --> 0:19:05.760
<v Speaker 1>something I think might be underappreciated, especially when it gets

0:19:05.840 --> 0:19:08.800
<v Speaker 1>to a study will look at in a minute on

0:19:08.800 --> 0:19:12.440
<v Speaker 1>on on behavior the the effects of cumulative fatigue over

0:19:12.480 --> 0:19:14.680
<v Speaker 1>the course of week days. I think that that is

0:19:14.960 --> 0:19:17.560
<v Speaker 1>a very good idea. But okay, So so that was

0:19:17.560 --> 0:19:21.359
<v Speaker 1>that one study. Another one I looked at was by Stone, Schneider,

0:19:21.359 --> 0:19:24.480
<v Speaker 1>and Harder, published in twenty twelve in the Journal of

0:19:24.480 --> 0:19:28.399
<v Speaker 1>Positive Psychology. This one used a huge telephone survey with

0:19:28.440 --> 0:19:32.640
<v Speaker 1>like hundreds of thousands of participants, tested for demographic variables

0:19:32.640 --> 0:19:34.840
<v Speaker 1>and how people felt about different days of the week.

0:19:35.400 --> 0:19:39.440
<v Speaker 1>They found, again unsurprisingly, a strong preference for weekends. People

0:19:39.560 --> 0:19:44.040
<v Speaker 1>really really love Fridays. They like weekends. Uh. This study

0:19:44.080 --> 0:19:48.560
<v Speaker 1>found weaker evidence that people really hate Mondays. Uh. It

0:19:48.640 --> 0:19:51.960
<v Speaker 1>was it was a more reduced Monday blues effect, but

0:19:52.119 --> 0:19:54.760
<v Speaker 1>they did find some variations. This one also found that

0:19:55.200 --> 0:19:57.960
<v Speaker 1>day of the week effects on mood in general were

0:19:58.000 --> 0:20:02.040
<v Speaker 1>more pronounced in younger p bowl generally, and the day

0:20:02.080 --> 0:20:05.000
<v Speaker 1>of the week had less effect on mood for older

0:20:05.040 --> 0:20:08.439
<v Speaker 1>people and especially retired people. So that might not be

0:20:08.480 --> 0:20:11.720
<v Speaker 1>surprising because I think a lot of these day of

0:20:11.720 --> 0:20:13.719
<v Speaker 1>the week effects probably have to do with when you

0:20:13.800 --> 0:20:16.760
<v Speaker 1>have to go to work. UH. They found no differences

0:20:16.800 --> 0:20:19.359
<v Speaker 1>on the basis of gender or on the basis of

0:20:19.680 --> 0:20:22.600
<v Speaker 1>the presence of a romantic partner. Now, it does seem

0:20:22.640 --> 0:20:26.000
<v Speaker 1>strange that there wouldn't be much emphasis put on Wednesday, though,

0:20:26.000 --> 0:20:28.120
<v Speaker 1>because it seems like, like Wednesday is hump Day, right,

0:20:28.160 --> 0:20:31.520
<v Speaker 1>Like Wednesday is the day where you may, uh, you know,

0:20:31.720 --> 0:20:34.600
<v Speaker 1>feel the satisfaction of knowing that the the you're you're

0:20:34.680 --> 0:20:37.960
<v Speaker 1>halfway there, You're you're more than halfway there. You are

0:20:38.040 --> 0:20:40.399
<v Speaker 1>over the hump and headed in towards that Friday that

0:20:40.440 --> 0:20:44.040
<v Speaker 1>you're looking forward to. You want scientific confirmation of hump day,

0:20:44.080 --> 0:20:46.919
<v Speaker 1>hump day confirmed. It's like if hump Day is I

0:20:46.920 --> 0:20:48.960
<v Speaker 1>mean this kind of we come into our assumptions, right,

0:20:49.200 --> 0:20:51.520
<v Speaker 1>I have these assumptions about hump days. But if those

0:20:51.520 --> 0:20:53.840
<v Speaker 1>assumptions are not borne out in UH, in the data

0:20:53.920 --> 0:20:57.480
<v Speaker 1>then then maybe it's just like it's a silly notion. Anyway, Well,

0:20:57.480 --> 0:20:59.720
<v Speaker 1>there may be some ways in which hump day is

0:20:59.760 --> 0:21:02.280
<v Speaker 1>a alien effect, but it just kind of gets lost

0:21:02.320 --> 0:21:04.960
<v Speaker 1>in the noise of this this big study with a

0:21:04.960 --> 0:21:07.639
<v Speaker 1>bunch of other things going on. Maybe it doesn't show up,

0:21:07.680 --> 0:21:10.280
<v Speaker 1>just fades into the noise when you're asking people, how

0:21:10.320 --> 0:21:12.800
<v Speaker 1>do you feel about today, about this day of the week,

0:21:13.080 --> 0:21:15.240
<v Speaker 1>or how do you feel today on the day that

0:21:15.280 --> 0:21:18.280
<v Speaker 1>I'm asking you this as opposed to other more targeted

0:21:18.400 --> 0:21:20.879
<v Speaker 1>questions that may pull out the hump day nous of

0:21:20.960 --> 0:21:25.040
<v Speaker 1>hump day, maybe questions about like optimism about the future

0:21:25.119 --> 0:21:29.480
<v Speaker 1>or something. Now you could ask another question. Again, we've

0:21:29.520 --> 0:21:31.840
<v Speaker 1>been talking about, well what's obvious or what we would

0:21:31.880 --> 0:21:34.119
<v Speaker 1>just assume, But here's another question. Seems like it has

0:21:34.160 --> 0:21:37.400
<v Speaker 1>an obvious answer. Why do people seem to like weekends

0:21:37.480 --> 0:21:39.880
<v Speaker 1>so much more than week days? I think I think

0:21:39.880 --> 0:21:42.320
<v Speaker 1>both common intuition as well as some of the data

0:21:42.359 --> 0:21:44.920
<v Speaker 1>we've looked at already would tell us it's because people

0:21:45.000 --> 0:21:48.840
<v Speaker 1>like being off work. Uh. Though interestingly, of course, not

0:21:48.920 --> 0:21:52.080
<v Speaker 1>everybody's work hours conformed to the standard Monday to Friday

0:21:52.119 --> 0:21:55.040
<v Speaker 1>nine to five, and some people and some people also,

0:21:55.119 --> 0:21:56.760
<v Speaker 1>you know, even if they do conform to that, really

0:21:56.840 --> 0:21:59.280
<v Speaker 1>enjoy their work. But at least at the population level,

0:21:59.280 --> 0:22:01.679
<v Speaker 1>this effect shows up strongly anyway. So I don't know

0:22:01.720 --> 0:22:04.880
<v Speaker 1>if you know people who are restaurant servers whose busiest

0:22:04.920 --> 0:22:06.840
<v Speaker 1>work is on the weekends or something like that, if

0:22:06.880 --> 0:22:09.800
<v Speaker 1>they're just not enough of them to balance out the

0:22:09.840 --> 0:22:12.840
<v Speaker 1>survey data, or maybe somehow even though it's their busy

0:22:12.840 --> 0:22:15.920
<v Speaker 1>work times, they that they prefer weekends as well. I

0:22:15.960 --> 0:22:18.159
<v Speaker 1>don't know. I I haven't found data on that. But

0:22:18.320 --> 0:22:21.399
<v Speaker 1>this question of what causes people to enjoy weekends the

0:22:21.440 --> 0:22:25.520
<v Speaker 1>most has also been analyzed in some psychology research, sometimes

0:22:25.600 --> 0:22:29.160
<v Speaker 1>referred to as the weekend effect. And I was looking

0:22:29.200 --> 0:22:31.960
<v Speaker 1>at a study from ten in the Journal of Social

0:22:32.000 --> 0:22:37.119
<v Speaker 1>and Clinical Psychology by Ryan Bernstein and Brown called weekends

0:22:37.160 --> 0:22:40.200
<v Speaker 1>work and well being psychological needs satisfactions in the day

0:22:40.240 --> 0:22:44.080
<v Speaker 1>of the week effects on mood, vitality, and physical symptoms. UH.

0:22:44.320 --> 0:22:47.160
<v Speaker 1>This held true for all different kinds of jobs, no

0:22:47.320 --> 0:22:50.440
<v Speaker 1>matter you know what kind of work you had. In general,

0:22:50.600 --> 0:22:55.080
<v Speaker 1>on average, people like weekends better than week days and uh,

0:22:55.119 --> 0:22:59.160
<v Speaker 1>and not just like them better like that, they reported, say,

0:22:59.480 --> 0:23:04.240
<v Speaker 1>fewer physical aches and pains on the weekends and reported

0:23:04.400 --> 0:23:07.679
<v Speaker 1>feeling that this I thought this was really interesting. People

0:23:07.720 --> 0:23:11.800
<v Speaker 1>reported that they generally felt more quote competent on weekends

0:23:11.800 --> 0:23:14.320
<v Speaker 1>than week days. You might assume the opposite would be true,

0:23:14.320 --> 0:23:17.000
<v Speaker 1>that people feel like, Okay, I'm competent in my job,

0:23:17.080 --> 0:23:20.600
<v Speaker 1>so I'm competent on week days, but no, people felt

0:23:20.640 --> 0:23:23.879
<v Speaker 1>competent on the weekends. Maybe that's just because I don't know,

0:23:23.960 --> 0:23:27.040
<v Speaker 1>jobs are overwhelming, or because the nature of work is

0:23:27.080 --> 0:23:30.000
<v Speaker 1>often such that it interferes with your ability to do

0:23:30.119 --> 0:23:32.160
<v Speaker 1>your job as well as you could be doing it.

0:23:32.640 --> 0:23:35.000
<v Speaker 1>But anyway, this study looked at different factors that could

0:23:35.000 --> 0:23:38.840
<v Speaker 1>be influencing why people have such a strong preference for weekends,

0:23:39.200 --> 0:23:42.800
<v Speaker 1>and the researchers concluded that the most important factors were

0:23:42.800 --> 0:23:46.320
<v Speaker 1>probably two. One of them is the ability to spend

0:23:46.400 --> 0:23:49.359
<v Speaker 1>quality time with friends and family with loved ones, and

0:23:49.400 --> 0:23:52.440
<v Speaker 1>the other is the freedom to choose one's own activities.

0:23:52.480 --> 0:23:56.120
<v Speaker 1>People like self determination in what activities they engage in.

0:23:56.520 --> 0:23:59.320
<v Speaker 1>So you might imagine a scenario where somebody is off

0:23:59.359 --> 0:24:01.159
<v Speaker 1>work for the weekend. They don't have to go to

0:24:01.240 --> 0:24:04.400
<v Speaker 1>their job, but they don't get to spend quality time

0:24:04.440 --> 0:24:07.159
<v Speaker 1>with loved ones, and their time is taken up with

0:24:07.200 --> 0:24:10.600
<v Speaker 1>some kind of obligatory activity that they don't choose themselves,

0:24:10.680 --> 0:24:12.639
<v Speaker 1>and in that case, it might not actually feel like

0:24:12.680 --> 0:24:14.680
<v Speaker 1>a weekend at all. It might be just as bad

0:24:14.720 --> 0:24:17.840
<v Speaker 1>as work or worse. I know, I have this experience.

0:24:17.840 --> 0:24:20.399
<v Speaker 1>I can get really down about like a weekend that

0:24:20.560 --> 0:24:26.760
<v Speaker 1>is just jammed up with unwanted obligatory activities. Yeah yeah,

0:24:26.840 --> 0:24:30.320
<v Speaker 1>I mean, I know for my own part, there are

0:24:30.359 --> 0:24:33.800
<v Speaker 1>things like, for instance, listening to music. I might I

0:24:34.440 --> 0:24:38.119
<v Speaker 1>almost certainly listen to music more on my own during

0:24:38.119 --> 0:24:41.880
<v Speaker 1>the work week, uh, just because I'm plugged in more

0:24:42.080 --> 0:24:44.120
<v Speaker 1>or and in some cases are released in the past.

0:24:44.160 --> 0:24:46.760
<v Speaker 1>You know, I've I've been commuting and so there will

0:24:46.760 --> 0:24:49.560
<v Speaker 1>be more sort of designated media time during the commute,

0:24:49.720 --> 0:24:51.320
<v Speaker 1>and then on the weekends you don't have that. So

0:24:51.880 --> 0:24:55.359
<v Speaker 1>not not not that that necessarily pushes weekend good or bad,

0:24:55.400 --> 0:24:58.080
<v Speaker 1>but it certainly gives it a slightly different flavor. There

0:24:58.119 --> 0:25:01.280
<v Speaker 1>there are things that the weekend and not offer that

0:25:01.359 --> 0:25:05.160
<v Speaker 1>the that the normal week days do. Yeah, yeah, totally. So,

0:25:05.560 --> 0:25:08.840
<v Speaker 1>I don't know, the ability to determine one's own activities

0:25:08.880 --> 0:25:11.359
<v Speaker 1>and the ability to spend quality time with loved ones

0:25:11.720 --> 0:25:14.679
<v Speaker 1>whenever that happens. It seems like those are are major

0:25:14.720 --> 0:25:20.080
<v Speaker 1>factors that increase people's feeling of well being along multiple axes. Um.

0:25:20.240 --> 0:25:23.560
<v Speaker 1>But it just so happens that those things, on average

0:25:23.560 --> 0:25:26.639
<v Speaker 1>happened the most on weekends for people. But you know,

0:25:26.800 --> 0:25:30.560
<v Speaker 1>individual mileage may vary. But but while the previous results

0:25:30.600 --> 0:25:32.880
<v Speaker 1>might be pretty obvious, you could also imagine that there

0:25:32.880 --> 0:25:35.919
<v Speaker 1>could be other effects of the seven day week on

0:25:36.080 --> 0:25:41.240
<v Speaker 1>human psychology and particularly on behavior. Now, again, these would

0:25:41.240 --> 0:25:44.879
<v Speaker 1>be highly dependent on a person's economic and cultural surroundings, because,

0:25:44.920 --> 0:25:47.480
<v Speaker 1>as we talked about in the last episode, basically all

0:25:47.480 --> 0:25:49.840
<v Speaker 1>the evidence indicates that the seven day week is is

0:25:49.880 --> 0:25:52.800
<v Speaker 1>not a fact of nature, but but a mental technology,

0:25:52.920 --> 0:25:55.159
<v Speaker 1>something we have created. So it will depend on what

0:25:55.240 --> 0:25:57.639
<v Speaker 1>kind of week you use and what the week is

0:25:57.760 --> 0:26:00.240
<v Speaker 1>used for in the place where you live. A couple

0:26:00.280 --> 0:26:02.919
<v Speaker 1>of random examples that have been observed over the years

0:26:02.960 --> 0:26:05.800
<v Speaker 1>that I wanted to point out. So one is the

0:26:05.880 --> 0:26:09.840
<v Speaker 1>question of does the stock market behave differently depending on

0:26:09.920 --> 0:26:13.560
<v Speaker 1>what day of the week it is other factors being equal. Uh,

0:26:13.560 --> 0:26:16.679
<v Speaker 1>this one doesn't seem totally clear. It looks to me

0:26:16.760 --> 0:26:19.920
<v Speaker 1>like some studies looking into this have found a correlation.

0:26:20.480 --> 0:26:23.359
<v Speaker 1>Others have have not or have argued that the correlations

0:26:23.400 --> 0:26:26.560
<v Speaker 1>that have been found can be explained away. Um. But

0:26:26.720 --> 0:26:29.080
<v Speaker 1>just as one example of of a study that did

0:26:29.119 --> 0:26:31.639
<v Speaker 1>find a correlation and said it couldn't be explained away,

0:26:32.080 --> 0:26:36.080
<v Speaker 1>there was Gibbons and Hess from the Journal of Business

0:26:36.160 --> 0:26:39.639
<v Speaker 1>in ninety one. The article was titled Day of the

0:26:39.640 --> 0:26:43.680
<v Speaker 1>Week effects and Asset Returns, and this found against prediction

0:26:43.880 --> 0:26:47.760
<v Speaker 1>that expected returns for stocks and bills on Mondays were

0:26:47.800 --> 0:26:50.199
<v Speaker 1>lower than for other days of the week, or perhaps

0:26:50.200 --> 0:26:53.560
<v Speaker 1>sometimes even negative. And they were just like, we don't

0:26:53.560 --> 0:26:55.320
<v Speaker 1>know how to explain this, We don't know of what

0:26:55.480 --> 0:26:59.520
<v Speaker 1>factor would would explain this. Another example I found in

0:26:59.600 --> 0:27:03.640
<v Speaker 1>a pay or by Ellis and Jenkins published in UH

0:27:03.800 --> 0:27:07.480
<v Speaker 1>plus one in twelve. I know for many years I've

0:27:07.520 --> 0:27:09.879
<v Speaker 1>been calling this journal p l O S one A

0:27:09.920 --> 0:27:12.040
<v Speaker 1>lot of people say that way, but I just read

0:27:12.080 --> 0:27:15.359
<v Speaker 1>an article saying that the pronunciation, of course that stands

0:27:15.359 --> 0:27:18.679
<v Speaker 1>for Public Library of Science. But so it is an acronym.

0:27:18.760 --> 0:27:21.680
<v Speaker 1>But but they say plas rhyming with floss. So from

0:27:21.680 --> 0:27:24.359
<v Speaker 1>now on I'm gonna try to remember to floss like

0:27:24.480 --> 0:27:28.159
<v Speaker 1>plas plas instead of p L O S. Yeah, but

0:27:28.200 --> 0:27:32.000
<v Speaker 1>how about plos Sometimes it's kind of since we have

0:27:32.119 --> 0:27:34.919
<v Speaker 1>like often a capital P lower case L O than

0:27:35.000 --> 0:27:40.080
<v Speaker 1>capital S, it seems like that would be possos. I

0:27:40.119 --> 0:27:41.600
<v Speaker 1>know now that I've said it, I'm gonna get it

0:27:41.600 --> 0:27:44.399
<v Speaker 1>wrong in the future and looks stupid. Plus plus plus

0:27:44.480 --> 0:27:48.120
<v Speaker 1>like floss okay, so plus one. Uh. The The article

0:27:48.200 --> 0:27:51.800
<v Speaker 1>was titled weekday effects Attendance Rate for Medical Appointments large

0:27:51.800 --> 0:27:55.760
<v Speaker 1>Scale Data Analysis and Implications. This study examined over four

0:27:55.800 --> 0:27:59.720
<v Speaker 1>point five million hospital appointment records from Scotland between two

0:27:59.760 --> 0:28:02.760
<v Speaker 1>thousand and eight in two thousand ten and it definitely

0:28:02.760 --> 0:28:06.280
<v Speaker 1>found a trend. They found that the did not attend

0:28:06.440 --> 0:28:10.800
<v Speaker 1>rate was quote highest for Mondays eleven percent and lowest

0:28:10.840 --> 0:28:15.760
<v Speaker 1>for Friday's nine point seven and decreased monotonically over the week.

0:28:15.800 --> 0:28:17.600
<v Speaker 1>So it went down over the week until it got

0:28:17.640 --> 0:28:20.879
<v Speaker 1>to the lowest on Fridays. And in keeping with the trend,

0:28:20.880 --> 0:28:23.560
<v Speaker 1>we've we've seen a few times here that there may

0:28:23.560 --> 0:28:27.200
<v Speaker 1>be a day of week effects difference by age. The

0:28:27.280 --> 0:28:30.679
<v Speaker 1>study found that the pattern was steeper for younger age

0:28:30.720 --> 0:28:34.680
<v Speaker 1>groups than for older ones. Well you know it's it's

0:28:35.080 --> 0:28:37.479
<v Speaker 1>one is tempted to fall back on stereotypes there as

0:28:37.480 --> 0:28:40.000
<v Speaker 1>well and say well, maybe younger people are less concerned

0:28:40.000 --> 0:28:45.440
<v Speaker 1>about about health matters versus older people. But that's those

0:28:45.440 --> 0:28:47.440
<v Speaker 1>are generalities and I'm not sure if we can really

0:28:48.200 --> 0:28:50.880
<v Speaker 1>lean too heavily on those. But why would that affect

0:28:50.880 --> 0:28:52.480
<v Speaker 1>today of the week. I mean it would still it

0:28:52.480 --> 0:28:54.960
<v Speaker 1>would mean that younger people are less concerned about health

0:28:55.000 --> 0:28:58.600
<v Speaker 1>matters maybe on Mondays Tuesdays, and so they get more

0:28:58.640 --> 0:29:01.600
<v Speaker 1>concerned as those on they've been partying all weekend. I

0:29:01.680 --> 0:29:04.360
<v Speaker 1>guess I don't know, but I know that that even

0:29:04.400 --> 0:29:08.520
<v Speaker 1>as a as an adult, um, I uh, there have

0:29:08.600 --> 0:29:11.680
<v Speaker 1>been times where I reached Sunday and then I say,

0:29:11.920 --> 0:29:13.560
<v Speaker 1>I look at the calendars, like, all right, what's coming

0:29:13.640 --> 0:29:16.120
<v Speaker 1>up this week? What did I what did I you know,

0:29:16.240 --> 0:29:19.040
<v Speaker 1>put in the books for the week ahead, And then

0:29:19.040 --> 0:29:21.560
<v Speaker 1>I'll say, oh, I have a dental appointment on Monday,

0:29:21.600 --> 0:29:24.000
<v Speaker 1>and I and there might be a temptation to want

0:29:24.000 --> 0:29:27.480
<v Speaker 1>to rearrange that just because you know the nature of

0:29:27.520 --> 0:29:30.640
<v Speaker 1>the Monday is that you know, maybe you're not maybe

0:29:30.640 --> 0:29:32.760
<v Speaker 1>you're not excited about Monday, or maybe you are excited

0:29:32.760 --> 0:29:35.080
<v Speaker 1>about actually getting some work done on on Monday, kicking

0:29:35.080 --> 0:29:38.040
<v Speaker 1>the week off right, and it doesn't feel appropriate maybe

0:29:38.080 --> 0:29:41.200
<v Speaker 1>to then spend an hour or more somewhere else, even

0:29:41.240 --> 0:29:43.960
<v Speaker 1>if it is something important like a medical appointment. I

0:29:44.040 --> 0:29:46.320
<v Speaker 1>know exactly what you're talking about. Man, When you know

0:29:46.360 --> 0:29:49.160
<v Speaker 1>you're scheduling six months out at the dentist or something,

0:29:49.240 --> 0:29:51.960
<v Speaker 1>and you're like, uh, yeah, Monday, that sounds good, and

0:29:52.000 --> 0:29:55.600
<v Speaker 1>then it's that Sunday and you're like, oh, no, I

0:29:55.040 --> 0:29:57.480
<v Speaker 1>can do this. Yeah, I should have put it on

0:29:57.520 --> 0:30:08.120
<v Speaker 1>a Thursday. The two examples I was just talking about

0:30:08.160 --> 0:30:12.680
<v Speaker 1>of possible weekly fluctuations in human behavior with the stock

0:30:12.720 --> 0:30:16.920
<v Speaker 1>markets and with missed appointments missed medical appointments. Those were

0:30:16.960 --> 0:30:19.920
<v Speaker 1>both mentioned in the background of a paper from which

0:30:19.920 --> 0:30:22.360
<v Speaker 1>I want to talk about because I found it interesting

0:30:23.120 --> 0:30:28.600
<v Speaker 1>and this paper experimentally explored a unifying concept that might

0:30:28.760 --> 0:30:33.440
<v Speaker 1>explain a number of weekly changes in behavior patterns, and

0:30:33.600 --> 0:30:38.080
<v Speaker 1>that explanation would be in risk tolerance. So this paper

0:30:38.240 --> 0:30:41.520
<v Speaker 1>is by Jet G. Sanders and Rob Jenkins published in

0:30:41.640 --> 0:30:48.200
<v Speaker 1>Plus one called Weekly Fluctuations and Risk Tolerance and Voting Behavior.

0:30:49.200 --> 0:30:52.280
<v Speaker 1>And so the authors of this paper point out several

0:30:52.320 --> 0:30:55.200
<v Speaker 1>observed trends in human behavior across days of the week,

0:30:55.280 --> 0:30:57.640
<v Speaker 1>including the two I mentioned a minute ago, with stocks

0:30:57.720 --> 0:31:00.240
<v Speaker 1>and and medical appointments. But they also point out things

0:31:00.280 --> 0:31:03.080
<v Speaker 1>as serious as rates of attempted suicide. There are there

0:31:03.080 --> 0:31:06.080
<v Speaker 1>are uh, you know, you can observe trends throughout the

0:31:06.080 --> 0:31:09.760
<v Speaker 1>week in all kinds of human behaviors. But they argue

0:31:09.800 --> 0:31:12.480
<v Speaker 1>that despite these observations, there has not yet been a

0:31:12.600 --> 0:31:18.000
<v Speaker 1>unified psychological explanation for them. There's not one, uh explanation

0:31:18.000 --> 0:31:20.280
<v Speaker 1>that people have been able to give yet it would say,

0:31:20.120 --> 0:31:23.680
<v Speaker 1>here's why we're observing these trends. And in this paper,

0:31:23.720 --> 0:31:27.680
<v Speaker 1>the author's hypothesized that one psychological factor which could influence

0:31:27.720 --> 0:31:30.680
<v Speaker 1>a wide range of behaviors by fluctuating throughout the week

0:31:30.920 --> 0:31:34.840
<v Speaker 1>is risk tolerance. Now, they did multiple studies to look

0:31:34.840 --> 0:31:36.440
<v Speaker 1>at this, but the first one that was like a

0:31:36.480 --> 0:31:39.680
<v Speaker 1>direct lab study I thought was interesting because it involved

0:31:39.720 --> 0:31:43.520
<v Speaker 1>a computer game that is designed to measure risk tolerance,

0:31:43.760 --> 0:31:47.720
<v Speaker 1>and this is called the BART test. BART is an acronym.

0:31:47.760 --> 0:31:52.600
<v Speaker 1>It stands for Balloon Analog Risk Task And as with

0:31:52.600 --> 0:31:55.200
<v Speaker 1>a lot of these psychological tools, is so the BART

0:31:55.280 --> 0:31:58.040
<v Speaker 1>is really designed to try to reduce or eliminate the

0:31:58.080 --> 0:32:01.960
<v Speaker 1>influence of other variables to get as close as possible

0:32:02.040 --> 0:32:05.160
<v Speaker 1>to testing just the factor in question, in this case,

0:32:05.280 --> 0:32:08.880
<v Speaker 1>risk tolerance and the test works like this. Okay, so

0:32:09.160 --> 0:32:12.120
<v Speaker 1>rob you imagine you sit down at a computer and

0:32:12.320 --> 0:32:14.400
<v Speaker 1>you've been told in advance that you're gonna play a

0:32:14.400 --> 0:32:18.080
<v Speaker 1>computer game that will lead to a variable cash payout

0:32:18.120 --> 0:32:20.080
<v Speaker 1>at the end. You're gonna get some money by playing

0:32:20.080 --> 0:32:23.640
<v Speaker 1>this game, but the money depends on your performance, and

0:32:23.720 --> 0:32:26.200
<v Speaker 1>so the game works like this. In the game, you

0:32:26.280 --> 0:32:29.760
<v Speaker 1>have a series of twenty balloons that you get to

0:32:29.960 --> 0:32:32.720
<v Speaker 1>inflate one at a time. So you start on the

0:32:32.760 --> 0:32:35.680
<v Speaker 1>first balloon and you press a button I think space

0:32:35.720 --> 0:32:39.480
<v Speaker 1>bar to inflate this cartoon balloon. And every time you

0:32:39.520 --> 0:32:42.720
<v Speaker 1>press the button there is a money value contained in

0:32:42.760 --> 0:32:45.719
<v Speaker 1>the balloon that goes up, so say it's increasing by

0:32:45.720 --> 0:32:48.640
<v Speaker 1>a penny every time you hit the space bar, So

0:32:48.680 --> 0:32:52.200
<v Speaker 1>you're hitting the space you're increasing your payout. But as

0:32:52.240 --> 0:32:55.720
<v Speaker 1>you keep inflating the balloon, you get closer and closer

0:32:55.760 --> 0:33:00.080
<v Speaker 1>to some randomized point where the balloon will pop. And

0:33:00.120 --> 0:33:02.520
<v Speaker 1>if you reach that point in the balloon pops, you

0:33:02.680 --> 0:33:05.080
<v Speaker 1>lose all the money you've earned so far, it all

0:33:05.120 --> 0:33:08.720
<v Speaker 1>goes away. So what you're trying to do is inflated

0:33:08.760 --> 0:33:11.920
<v Speaker 1>as much as you can without it popping, and then

0:33:12.120 --> 0:33:14.600
<v Speaker 1>get and then you're going to do something called banking it,

0:33:14.600 --> 0:33:16.479
<v Speaker 1>which means you say, Okay, I'm done with this balloon.

0:33:16.840 --> 0:33:18.800
<v Speaker 1>I'm not going to inflate it anymore. I'll just take

0:33:18.840 --> 0:33:22.200
<v Speaker 1>whatever money is in there now. Yeah, and there's similar

0:33:22.280 --> 0:33:25.440
<v Speaker 1>I've seen some stills of what these, uh the simple

0:33:25.480 --> 0:33:26.920
<v Speaker 1>games tend to look like. And they tend to be

0:33:27.040 --> 0:33:29.760
<v Speaker 1>very simple because it's not about believing that you're looking

0:33:29.800 --> 0:33:32.040
<v Speaker 1>at a balloon. It's about like the basic risk, like

0:33:32.080 --> 0:33:34.000
<v Speaker 1>do do I risk it now? Do I risk it now?

0:33:34.320 --> 0:33:36.560
<v Speaker 1>But you you find a similar mechanic in some games

0:33:36.760 --> 0:33:39.640
<v Speaker 1>as well, where there'll be something on the line and

0:33:39.680 --> 0:33:41.680
<v Speaker 1>do you keep pushing it, do you keep holding or

0:33:41.680 --> 0:33:43.600
<v Speaker 1>do you go ahead and cash out? It's the basic

0:33:43.600 --> 0:33:46.040
<v Speaker 1>double down principle. Yeah, and so I think, yeah, a

0:33:46.080 --> 0:33:48.120
<v Speaker 1>game like this is a is a pretty good attempt

0:33:48.120 --> 0:33:52.240
<v Speaker 1>to isolate risk tolerance as as its own variable like that,

0:33:52.400 --> 0:33:55.560
<v Speaker 1>there's that's pretty much directly what it's testing. There's not

0:33:55.600 --> 0:33:57.800
<v Speaker 1>a lot else that you could imagine is going into this.

0:33:58.200 --> 0:34:00.320
<v Speaker 1>So every single moment of the game, you can either

0:34:00.400 --> 0:34:05.200
<v Speaker 1>gamble by inflating the balloon more, potentially increasing your ultimate payout,

0:34:05.600 --> 0:34:08.160
<v Speaker 1>but also risking losing everything. You've you've gotten on this

0:34:08.239 --> 0:34:10.839
<v Speaker 1>balloon so far, or you can bank it and and

0:34:10.960 --> 0:34:14.239
<v Speaker 1>keep that money start the next balloon. The obvious correlation

0:34:14.320 --> 0:34:17.040
<v Speaker 1>is that people with a lower risk tolerance at the

0:34:17.040 --> 0:34:20.160
<v Speaker 1>time they're playing the game will tend to bank balloons

0:34:20.239 --> 0:34:23.880
<v Speaker 1>earlier and protect the gains they've already made, whereas people

0:34:23.880 --> 0:34:26.720
<v Speaker 1>with a higher risk tolerance while they're playing the game

0:34:27.000 --> 0:34:30.440
<v Speaker 1>will tend to keep inflating to make the payouts bigger,

0:34:30.560 --> 0:34:32.839
<v Speaker 1>you know, with the increased risk of losing the whole pot.

0:34:33.000 --> 0:34:35.920
<v Speaker 1>And of course, you know, risk tolerance is going to

0:34:36.040 --> 0:34:40.440
<v Speaker 1>vary to some degree by by like fixed personality traits,

0:34:40.480 --> 0:34:42.920
<v Speaker 1>like some people are just more risk tolerant than other

0:34:42.960 --> 0:34:46.120
<v Speaker 1>people across the board. But then it's also going to

0:34:46.239 --> 0:34:49.560
<v Speaker 1>vary moment to moment by but within a person. So

0:34:49.600 --> 0:34:52.400
<v Speaker 1>a person might have a generally high, low, or average

0:34:52.480 --> 0:34:55.200
<v Speaker 1>risk tolerance, but other factors I don't know. Maybe if

0:34:55.200 --> 0:34:58.400
<v Speaker 1>you give somebody a few alcoholic beverages, their risk tolerance

0:34:58.400 --> 0:35:01.440
<v Speaker 1>probably goes up. This is why casinos like to give

0:35:01.440 --> 0:35:06.040
<v Speaker 1>people free drinks. And apparently the Bart test has has

0:35:06.080 --> 0:35:09.040
<v Speaker 1>been shown to predict real world risk taking in domains

0:35:09.120 --> 0:35:11.719
<v Speaker 1>like health and economics, so it seems like this is

0:35:11.719 --> 0:35:14.160
<v Speaker 1>probably a pretty good test. People who take more risks

0:35:14.200 --> 0:35:17.160
<v Speaker 1>in the game also take more risks in real life.

0:35:17.719 --> 0:35:19.560
<v Speaker 1>So in this study they played this game with a

0:35:19.640 --> 0:35:22.040
<v Speaker 1>number of controls in place to try to isolate day

0:35:22.080 --> 0:35:25.480
<v Speaker 1>of the week as the only relevant difference. Now a

0:35:25.560 --> 0:35:28.080
<v Speaker 1>caveat the sample size on the study was not huge.

0:35:28.120 --> 0:35:31.080
<v Speaker 1>It was twenty five players across five sessions each, so

0:35:31.160 --> 0:35:34.239
<v Speaker 1>a total of a hundred and twenty five barts um.

0:35:34.360 --> 0:35:37.000
<v Speaker 1>So I wouldn't put too much confidence on this result

0:35:37.120 --> 0:35:39.840
<v Speaker 1>until I see it confirmed in follow ups. But the

0:35:39.880 --> 0:35:42.320
<v Speaker 1>study did find an effect, and it was an interesting

0:35:42.360 --> 0:35:46.560
<v Speaker 1>one one that is not exactly what I would have predicted. Because, Rob,

0:35:46.760 --> 0:35:50.080
<v Speaker 1>if you had to guess in terms of risk tolerance

0:35:50.120 --> 0:35:53.360
<v Speaker 1>fluctuations during the week, what what would you guess the

0:35:53.480 --> 0:35:56.680
<v Speaker 1>day that one would take the most risks, the most

0:35:56.719 --> 0:35:59.759
<v Speaker 1>and the least. I would say most on Friday, least

0:35:59.760 --> 0:36:02.279
<v Speaker 1>on my day. I would guess exactly the same thing.

0:36:02.320 --> 0:36:05.000
<v Speaker 1>I would think that people are most risk tolerant on

0:36:05.040 --> 0:36:08.120
<v Speaker 1>Friday and Saturday. Those are the YOLO days, that's canonical,

0:36:08.719 --> 0:36:11.520
<v Speaker 1>and people would probably mean the most risk risk averse

0:36:11.560 --> 0:36:13.880
<v Speaker 1>on Mondays. You know, that's like the hunker down and

0:36:13.960 --> 0:36:17.840
<v Speaker 1>get through this day. But strangely, this is not exactly

0:36:17.840 --> 0:36:20.880
<v Speaker 1>what the researchers found that. It's there's some partial overlap

0:36:20.960 --> 0:36:23.480
<v Speaker 1>with what we just guessed. So, first of all, they

0:36:23.520 --> 0:36:25.600
<v Speaker 1>did not test on weekends. We don't have data on

0:36:25.640 --> 0:36:29.120
<v Speaker 1>Saturdays and Sundays. They were just testing variations between week days,

0:36:29.840 --> 0:36:32.480
<v Speaker 1>and they found that risk tolerance people are willing to

0:36:32.520 --> 0:36:35.400
<v Speaker 1>take the most risks to inflate the balloons the most

0:36:35.920 --> 0:36:42.160
<v Speaker 1>on Fridays and Mondays. But then after Mondays, risk tolerance

0:36:42.200 --> 0:36:47.720
<v Speaker 1>went down, and then it reached its lowest average on Thursdays.

0:36:48.280 --> 0:36:50.319
<v Speaker 1>So that was a hum moment for me. I I

0:36:50.360 --> 0:36:52.880
<v Speaker 1>don't know, like Thursdays, they're supposed to sort of blend

0:36:52.960 --> 0:36:56.040
<v Speaker 1>in with the other midweek days. They're very similar to

0:36:56.080 --> 0:37:00.520
<v Speaker 1>Tuesdays and Wednesdays. Why would people be the most call aucious,

0:37:00.560 --> 0:37:05.399
<v Speaker 1>the most averse to taking risks on Thursdays? I mean,

0:37:05.400 --> 0:37:07.320
<v Speaker 1>maybe it comes down to just sort of the finish

0:37:07.360 --> 0:37:10.600
<v Speaker 1>line view of the calendar week, where it's like, all right,

0:37:10.680 --> 0:37:13.399
<v Speaker 1>on Thursday, Uh, you know, I'm over the hump, I'm

0:37:13.440 --> 0:37:16.120
<v Speaker 1>coming in towards the finish. I I need to actually

0:37:16.160 --> 0:37:18.399
<v Speaker 1>get some stuff done today. I need to I don't

0:37:18.400 --> 0:37:21.320
<v Speaker 1>need to take a bunch of risks. Uh. Tomorrow, maybe

0:37:21.320 --> 0:37:24.440
<v Speaker 1>when the finish line is in sight, I'll feel risk here,

0:37:24.480 --> 0:37:27.200
<v Speaker 1>But today is all business. That's just a guess. I

0:37:27.239 --> 0:37:29.600
<v Speaker 1>don't know. I think there might be something to that.

0:37:29.640 --> 0:37:31.640
<v Speaker 1>I mean, we can talk about a few options here,

0:37:31.800 --> 0:37:34.400
<v Speaker 1>I guess. First, let's talk about what the authors themselves

0:37:35.040 --> 0:37:38.759
<v Speaker 1>offer as as their preferred explanation. Um. So, for one thing,

0:37:38.800 --> 0:37:42.520
<v Speaker 1>they hypothesize in their introduction that if risk tolerance varies

0:37:42.560 --> 0:37:45.919
<v Speaker 1>throughout the week, it might be related to mood, since

0:37:45.960 --> 0:37:49.080
<v Speaker 1>previous studies have found that mood has an influence on

0:37:49.160 --> 0:37:52.760
<v Speaker 1>decision making. And I thought this part was also strange

0:37:52.800 --> 0:37:57.360
<v Speaker 1>because the link between mood and risk tolerance is counterintuitive

0:37:57.360 --> 0:38:01.240
<v Speaker 1>to me. But they cite multiple studies existing research showing

0:38:01.280 --> 0:38:05.160
<v Speaker 1>that on average, people are more risk tolerance it will

0:38:05.200 --> 0:38:11.120
<v Speaker 1>take more risks when experiencing certain negative moods, such as sadness.

0:38:11.680 --> 0:38:15.440
<v Speaker 1>So apparently people experiencing sadness are more likely to inflate

0:38:15.480 --> 0:38:19.440
<v Speaker 1>the balloon higher take more risks, whereas people experiencing happiness

0:38:19.480 --> 0:38:23.480
<v Speaker 1>are more likely to be cautious and risk averse. This

0:38:23.560 --> 0:38:25.880
<v Speaker 1>is another thing that's kind of the opposite of what

0:38:25.920 --> 0:38:29.040
<v Speaker 1>I would have guessed from a gut feeling, though in

0:38:29.120 --> 0:38:31.759
<v Speaker 1>looking at the research they cite, I guess it sort

0:38:31.800 --> 0:38:35.440
<v Speaker 1>of makes sense maybe that, like feelings of sadness or

0:38:35.440 --> 0:38:38.120
<v Speaker 1>despair can lead to a a what what do I

0:38:38.200 --> 0:38:41.200
<v Speaker 1>have to lose? Kind of thinking? Right, right, And if

0:38:41.200 --> 0:38:43.319
<v Speaker 1>you're optimistic, you're like, well, why should I be taking

0:38:43.360 --> 0:38:47.400
<v Speaker 1>a risk Tomorrow's Friday? Yeah, I think this balloon, Yeah

0:38:47.560 --> 0:38:50.520
<v Speaker 1>it's fine. So so that's kind of surprising already. But anyway,

0:38:50.960 --> 0:38:54.960
<v Speaker 1>this fact would partially match the results they found in

0:38:54.960 --> 0:38:58.160
<v Speaker 1>the balloon game, because okay, you assume people are generally

0:38:58.280 --> 0:39:00.680
<v Speaker 1>in the worst mood on Monday. A lot of studies

0:39:00.680 --> 0:39:03.720
<v Speaker 1>have found that, and then their mood gets gradually better

0:39:03.840 --> 0:39:06.080
<v Speaker 1>throughout the week and then gets to its highest point

0:39:06.080 --> 0:39:09.600
<v Speaker 1>on Friday. This would track with their finding that people

0:39:09.760 --> 0:39:12.600
<v Speaker 1>take the most risks on Mondays and then get more

0:39:12.600 --> 0:39:15.920
<v Speaker 1>and more cautious up to Thursday. Though then on Friday

0:39:15.960 --> 0:39:19.960
<v Speaker 1>that correlation breaks because if the same pattern held, people

0:39:19.960 --> 0:39:22.920
<v Speaker 1>should actually be the most cautious on Fridays of the

0:39:23.000 --> 0:39:26.279
<v Speaker 1>lowest risk tolerance on Friday's because that's when they're in

0:39:26.320 --> 0:39:29.239
<v Speaker 1>the best mood. But that's not what happens, Friday looks

0:39:29.280 --> 0:39:31.200
<v Speaker 1>more kind of like the Yolo day that you and

0:39:31.239 --> 0:39:34.000
<v Speaker 1>I would have guessed. It's it's on par with Mondays

0:39:34.360 --> 0:39:37.520
<v Speaker 1>in terms of having high risk tolerance. So the authors

0:39:37.560 --> 0:39:41.279
<v Speaker 1>explained this by saying, quote, the Friday recovery suggests that

0:39:41.400 --> 0:39:45.799
<v Speaker 1>risk tolerance may track prospective mood more closely than it

0:39:45.880 --> 0:39:49.880
<v Speaker 1>tracts current mood. On this account, risk tolerance is lowest

0:39:49.920 --> 0:39:52.560
<v Speaker 1>on Thursday because that is when the most rewarding part

0:39:52.560 --> 0:39:56.719
<v Speaker 1>of the week is imminent. When gain is expected, changes

0:39:56.800 --> 0:40:01.680
<v Speaker 1>resisted risk aversion, When losses expect did, change is welcomed

0:40:01.840 --> 0:40:06.480
<v Speaker 1>risk tolerance. And I don't know on this. I'm kind

0:40:06.480 --> 0:40:08.680
<v Speaker 1>of halfway there on that explanation that that makes a

0:40:08.719 --> 0:40:11.280
<v Speaker 1>certain kind of sense to me. But then again, isn't

0:40:11.280 --> 0:40:17.200
<v Speaker 1>Friday already the highest mood because of prospective analysis? Like

0:40:17.320 --> 0:40:22.400
<v Speaker 1>Friday itself is prospective happiness. People who work jobs with

0:40:22.440 --> 0:40:24.919
<v Speaker 1>Monday to Friday schedules still have to go to work

0:40:24.920 --> 0:40:28.120
<v Speaker 1>on Friday. But we love Friday's because we are thinking

0:40:28.160 --> 0:40:31.640
<v Speaker 1>about the weekend being ahead of us. Yeah, yeah, I mean,

0:40:31.680 --> 0:40:34.239
<v Speaker 1>and unless it creeps even further back in the week here,

0:40:34.360 --> 0:40:38.239
<v Speaker 1>and like so basically you're, uh, your most optimistic on

0:40:38.280 --> 0:40:41.360
<v Speaker 1>Thursday because it's about to be Friday. And then of

0:40:41.400 --> 0:40:45.479
<v Speaker 1>course when it's actually Friday, maybe there are some realizations that, well,

0:40:45.520 --> 0:40:50.279
<v Speaker 1>you know, Friday is just another day and it's it's

0:40:50.280 --> 0:40:53.000
<v Speaker 1>nothing magical about it. Maybe. Yeah, I don't know. I

0:40:53.239 --> 0:40:55.840
<v Speaker 1>think this is curious. I would say if more people

0:40:55.920 --> 0:40:58.760
<v Speaker 1>test the same thing, if the same pattern the authors

0:40:58.760 --> 0:41:01.359
<v Speaker 1>found here holds up in other studies, I would wonder

0:41:01.360 --> 0:41:05.000
<v Speaker 1>if it's indicative of a multi variable input, Like maybe

0:41:05.080 --> 0:41:09.799
<v Speaker 1>improving mood explains decreasing risk tolerance throughout the week, but

0:41:09.880 --> 0:41:13.480
<v Speaker 1>then when Friday comes, some other psychological influence takes over.

0:41:13.560 --> 0:41:15.440
<v Speaker 1>I don't know what that would be, but it's sort

0:41:15.440 --> 0:41:20.680
<v Speaker 1>of overwhelms the effective mood on risk tolerance. But but yeah,

0:41:20.719 --> 0:41:24.319
<v Speaker 1>I I don't know. Yeah, I mean it's sometimes it's

0:41:24.360 --> 0:41:26.799
<v Speaker 1>it's hard for humans to live in the moment. Like

0:41:26.880 --> 0:41:30.239
<v Speaker 1>a I think about like the ramp up to Halloween.

0:41:30.320 --> 0:41:33.560
<v Speaker 1>You spend all of October moving towards Halloween and getting

0:41:33.560 --> 0:41:36.719
<v Speaker 1>into the Halloween spirit and all. Sometimes I've found that

0:41:36.760 --> 0:41:39.520
<v Speaker 1>when it's actually Halloween, it's still a lot of fun,

0:41:39.680 --> 0:41:44.080
<v Speaker 1>but there's also the the the you know, the sadness

0:41:44.120 --> 0:41:47.239
<v Speaker 1>that Halloween is about to be over. That that that

0:41:47.239 --> 0:41:48.920
<v Speaker 1>there's going to be the sharp cut off, and now

0:41:48.920 --> 0:41:51.880
<v Speaker 1>it's November, and now all these other factors are in play.

0:41:52.239 --> 0:41:54.799
<v Speaker 1>I know exactly what you're talking about there. With two

0:41:54.880 --> 0:41:58.320
<v Speaker 1>October files here, I feel like I get the most

0:41:58.360 --> 0:42:01.840
<v Speaker 1>pleasure in like the first two weeks of October because

0:42:01.880 --> 0:42:05.160
<v Speaker 1>then it's like there's so much October still ahead of us. Yeah.

0:42:05.400 --> 0:42:07.080
<v Speaker 1>But and then again, I don't know if this really

0:42:08.040 --> 0:42:11.359
<v Speaker 1>this can really relate to the week by week experience,

0:42:11.440 --> 0:42:14.560
<v Speaker 1>but yeah, I don't know. Now. Another interesting thing that

0:42:14.600 --> 0:42:17.400
<v Speaker 1>goes along with his I was reading a short article

0:42:17.560 --> 0:42:20.960
<v Speaker 1>by one of the authors of this study, uh Rob Jenkins,

0:42:21.000 --> 0:42:24.560
<v Speaker 1>and he also said that the same pattern was born

0:42:24.640 --> 0:42:29.879
<v Speaker 1>out in analyzes of historical chess games. That they they

0:42:30.880 --> 0:42:34.280
<v Speaker 1>had done an analysis of big archives of chess games

0:42:34.360 --> 0:42:37.840
<v Speaker 1>and try to quantify risky moves within those games and

0:42:37.840 --> 0:42:39.920
<v Speaker 1>then correlate that with what day of the week the

0:42:39.920 --> 0:42:42.160
<v Speaker 1>games took place on, and they found they say, they

0:42:42.160 --> 0:42:46.560
<v Speaker 1>found the same thing that uh moves got uh more

0:42:46.560 --> 0:42:50.160
<v Speaker 1>and more cautious on the on the trend from Monday

0:42:50.160 --> 0:42:53.200
<v Speaker 1>to Thursday, so you know, riskier moves on Monday and

0:42:53.239 --> 0:42:57.000
<v Speaker 1>then Thursday, very conservative playing and then Friday suddenly risky

0:42:57.040 --> 0:43:00.000
<v Speaker 1>moves again. So that was not a part of this paper.

0:43:00.680 --> 0:43:02.800
<v Speaker 1>That was just something i'd read the author talking about.

0:43:03.040 --> 0:43:06.480
<v Speaker 1>But within this same paper, the authors also looked at

0:43:06.680 --> 0:43:09.440
<v Speaker 1>how days of the week correlated with the voting preferences

0:43:09.520 --> 0:43:12.640
<v Speaker 1>as expressed in opinion polls on a couple of big

0:43:12.640 --> 0:43:16.320
<v Speaker 1>issues in UM in UK politics in recent years Scottish

0:43:16.320 --> 0:43:19.680
<v Speaker 1>independence and bregsit And from the moment, I think I'm

0:43:19.680 --> 0:43:21.799
<v Speaker 1>not going to focus on that because I feel like

0:43:22.080 --> 0:43:25.399
<v Speaker 1>those kinds of issues have they're so noisy with real

0:43:25.480 --> 0:43:27.920
<v Speaker 1>world data and so full of variables that are hard

0:43:27.960 --> 0:43:30.880
<v Speaker 1>to control for uh. And of course the authors are

0:43:30.920 --> 0:43:33.239
<v Speaker 1>aware of this, they make note of it, but I

0:43:33.280 --> 0:43:36.239
<v Speaker 1>feel like that that may be harder to fix on

0:43:36.360 --> 0:43:39.320
<v Speaker 1>day of the week effects and and things like risk aversion,

0:43:39.360 --> 0:43:42.560
<v Speaker 1>because especially when you're looking at something like a big

0:43:42.600 --> 0:43:46.520
<v Speaker 1>contentious political issue, like a huge part of political rhetoric

0:43:46.640 --> 0:43:50.520
<v Speaker 1>is specifically aimed at manipulating how people frame political and

0:43:50.600 --> 0:43:54.160
<v Speaker 1>voting choices in terms of risks. So it's hard to

0:43:54.239 --> 0:43:57.200
<v Speaker 1>pick one side of a political issue and say, well,

0:43:57.239 --> 0:43:59.800
<v Speaker 1>this is the one that's the more risk averse option,

0:44:00.000 --> 0:44:02.360
<v Speaker 1>and the other one is the one that's more risk tolerant,

0:44:02.400 --> 0:44:04.799
<v Speaker 1>because there may be lots of cases where voters on

0:44:04.880 --> 0:44:08.600
<v Speaker 1>opposite sides of an issue in roughly equal proportions both

0:44:08.680 --> 0:44:11.479
<v Speaker 1>believe their side to be the less risky one. Yeah,

0:44:11.480 --> 0:44:13.920
<v Speaker 1>it's going to debend on on what sort of media

0:44:13.960 --> 0:44:18.279
<v Speaker 1>you're consuming. One side is going to frame this is

0:44:18.360 --> 0:44:20.560
<v Speaker 1>the obviously the risky choice, and the other side is

0:44:20.560 --> 0:44:22.200
<v Speaker 1>going to say, no, this is the this is the

0:44:22.320 --> 0:44:26.080
<v Speaker 1>risk adverse choice. Though they point out something interesting that

0:44:26.120 --> 0:44:29.040
<v Speaker 1>does rely on a couple of conditionals. So if if

0:44:29.040 --> 0:44:31.239
<v Speaker 1>they're finding is indeed true, if it is borne out

0:44:31.280 --> 0:44:34.439
<v Speaker 1>that people's risk tolerance on average fluctuates throughout the week,

0:44:35.160 --> 0:44:37.960
<v Speaker 1>and if it's true that there are consistent patterns that

0:44:38.000 --> 0:44:41.920
<v Speaker 1>show up in populations, such as Thursday being consistently the

0:44:41.960 --> 0:44:45.839
<v Speaker 1>most cautious day, the most risk averse day, then what

0:44:46.000 --> 0:44:49.440
<v Speaker 1>day you hold elections or referenda on could actually affect

0:44:49.440 --> 0:44:52.480
<v Speaker 1>the outcome, which I think is interesting. But another thing

0:44:52.520 --> 0:44:54.319
<v Speaker 1>I was thinking about in the light of these assessments

0:44:54.320 --> 0:44:56.680
<v Speaker 1>of risk aversion is coming back to your idea of

0:44:57.560 --> 0:44:59.959
<v Speaker 1>the effect of week days being an effect of CUMU

0:45:00.000 --> 0:45:02.399
<v Speaker 1>a live fatigue. I mean, I wonder how that would

0:45:02.440 --> 0:45:06.440
<v Speaker 1>play into risk tolerance as expressed throughout the week. Does like, Okay,

0:45:06.760 --> 0:45:11.120
<v Speaker 1>could it be that being progressively more tired as you

0:45:11.160 --> 0:45:14.279
<v Speaker 1>go through the week and getting to Thursday, you've you've

0:45:14.400 --> 0:45:16.680
<v Speaker 1>most likely had the most nights in a row where

0:45:16.719 --> 0:45:18.960
<v Speaker 1>you didn't get as much sleep as you wanted, where

0:45:18.960 --> 0:45:21.239
<v Speaker 1>you were trying to pack things in and get through

0:45:21.239 --> 0:45:25.120
<v Speaker 1>the days that came before. Could that somehow express itself

0:45:25.160 --> 0:45:27.160
<v Speaker 1>in terms of what kind of risks you're willing to

0:45:27.200 --> 0:45:29.880
<v Speaker 1>take by Thursday? And then maybe some kind of mood

0:45:29.920 --> 0:45:34.080
<v Speaker 1>effect takes over on Friday that overwhelms that fatigue, right,

0:45:34.160 --> 0:45:38.600
<v Speaker 1>And then likewise, if if, if you're more prone to

0:45:38.640 --> 0:45:41.400
<v Speaker 1>lose sleep over the weekend, would you have have this

0:45:41.440 --> 0:45:45.279
<v Speaker 1>sort of scenario playing out, you know, moving into Monday

0:45:45.320 --> 0:45:46.800
<v Speaker 1>where yeah, you didn't you didn't get a lot of

0:45:46.800 --> 0:45:50.040
<v Speaker 1>sleep last night and the night before, uh, and here

0:45:50.040 --> 0:45:52.759
<v Speaker 1>you are catching up. Another question I have is I

0:45:52.800 --> 0:45:57.879
<v Speaker 1>wonder about interactions between between risk aversion as expressed over

0:45:57.960 --> 0:46:01.520
<v Speaker 1>different days of the week and our feeling of freedom

0:46:01.640 --> 0:46:04.520
<v Speaker 1>about what we get to do on on each day

0:46:04.520 --> 0:46:07.600
<v Speaker 1>of the week. So, like, how is your risk aversion

0:46:07.760 --> 0:46:11.319
<v Speaker 1>affected by it being a day where that is full

0:46:11.320 --> 0:46:13.360
<v Speaker 1>of tasks that are not really up to you you

0:46:13.440 --> 0:46:16.279
<v Speaker 1>just have to do them, versus on a day where

0:46:16.320 --> 0:46:19.359
<v Speaker 1>you can do whatever you want. Yeah. Yeah, I mean

0:46:19.400 --> 0:46:21.920
<v Speaker 1>I can imagine a scenario in which, yeah, you haven't

0:46:22.120 --> 0:46:24.480
<v Speaker 1>really had much in the way of choice, So now

0:46:24.520 --> 0:46:27.120
<v Speaker 1>I have the choice to take a risk. Well, maybe

0:46:27.120 --> 0:46:28.840
<v Speaker 1>I'm gonna take it. I don't know. It kind of

0:46:28.880 --> 0:46:31.160
<v Speaker 1>comes back to the where we're talking about, though, is

0:46:31.200 --> 0:46:33.880
<v Speaker 1>that there seems like there's a fair amount of noise

0:46:33.880 --> 0:46:36.600
<v Speaker 1>in any of these considerations, and and so much just

0:46:37.600 --> 0:46:40.879
<v Speaker 1>room for subjective interpretation. You know, it's just gonna vary

0:46:40.920 --> 0:46:45.520
<v Speaker 1>so much depending on what an individual's life structure happens

0:46:45.560 --> 0:46:47.799
<v Speaker 1>to be. Right, So if the pattern holds up, I

0:46:47.800 --> 0:46:50.719
<v Speaker 1>do think that's really interesting with this Thursday thing, But

0:46:51.440 --> 0:46:55.239
<v Speaker 1>I'm not convinced of any particular explanation yet. Yeah, but

0:46:55.320 --> 0:46:57.200
<v Speaker 1>this does just make me want to, like, I don't know,

0:46:57.480 --> 0:47:01.000
<v Speaker 1>do Bart tests on myself all, you know, all the

0:47:01.040 --> 0:47:03.400
<v Speaker 1>time figure out what's what's going on in my brain.

0:47:03.640 --> 0:47:05.960
<v Speaker 1>I guess it's hard to. I don't know. I guess

0:47:06.120 --> 0:47:08.480
<v Speaker 1>knowing what I'm testing for would affects the outcome, so

0:47:08.520 --> 0:47:12.839
<v Speaker 1>I can't really do that. But I want to bart myself. Well,

0:47:12.880 --> 0:47:14.719
<v Speaker 1>there's gotta be a good pin and paper kind of

0:47:14.719 --> 0:47:17.520
<v Speaker 1>BART scenario you can use. Well, I'd still know that

0:47:17.560 --> 0:47:19.920
<v Speaker 1>I was taking the test, and I couldn't, like, you know,

0:47:20.000 --> 0:47:22.839
<v Speaker 1>do it blinded. But yeah, in any case, I do

0:47:22.880 --> 0:47:26.000
<v Speaker 1>hope that risk tolerance researchers use bart as a verb.

0:47:26.080 --> 0:47:28.680
<v Speaker 1>But the way we have been doing I barted. I

0:47:28.800 --> 0:47:32.839
<v Speaker 1>barted twenty five participants today. You know, I haven't had

0:47:32.880 --> 0:47:36.120
<v Speaker 1>a chance to really research this, but it looks like

0:47:36.200 --> 0:47:40.080
<v Speaker 1>there there are a few um balloon analog risk task

0:47:40.640 --> 0:47:43.759
<v Speaker 1>tests BART tests that you can find online. Uh, though

0:47:43.800 --> 0:47:45.560
<v Speaker 1>I will warn you that the one I clicked on

0:47:45.760 --> 0:47:47.880
<v Speaker 1>it had some really loud sound effects. I don't know

0:47:47.920 --> 0:47:52.080
<v Speaker 1>that we really need alloud air hissing sound effect every

0:47:52.120 --> 0:47:54.399
<v Speaker 1>time I pump up the money balloon, So it only

0:47:54.400 --> 0:47:59.000
<v Speaker 1>works if it's deafening pops, pops and pumps. Okay, I

0:47:59.000 --> 0:48:00.799
<v Speaker 1>think maybe we've got a called this episode here and

0:48:00.840 --> 0:48:04.200
<v Speaker 1>then come back later this week. That's right, we'll have

0:48:04.320 --> 0:48:07.160
<v Speaker 1>more to discuss about the seven day week. We'll get

0:48:07.200 --> 0:48:10.000
<v Speaker 1>into some more and probably some expected territory concerning more

0:48:10.120 --> 0:48:15.400
<v Speaker 1>historical data, will probably get into some unexpected areas. As

0:48:15.440 --> 0:48:18.799
<v Speaker 1>well concerning the seven day week period. Obviously, we'd love

0:48:18.840 --> 0:48:21.640
<v Speaker 1>to hear from everyone. In the meantime, we've already been

0:48:21.680 --> 0:48:24.319
<v Speaker 1>hearing from a number of people about these episodes, so

0:48:24.719 --> 0:48:28.360
<v Speaker 1>keep it coming. Will remind you that our core episodes

0:48:28.400 --> 0:48:31.760
<v Speaker 1>of Stuff to Blow Your Mind published on two season Thursdays. Monday,

0:48:32.000 --> 0:48:35.520
<v Speaker 1>we do listener mail Wednesday as a short form artifact episode,

0:48:35.520 --> 0:48:38.120
<v Speaker 1>and on Friday that's our time to do Weird How Cinema,

0:48:38.160 --> 0:48:40.440
<v Speaker 1>where we set aside most serious concerns and just focus

0:48:40.520 --> 0:48:43.000
<v Speaker 1>on a strange film. Huge thanks as always to our

0:48:43.040 --> 0:48:46.440
<v Speaker 1>excellent audio producer Seth Nicholas Johnson. If you would like

0:48:46.520 --> 0:48:48.520
<v Speaker 1>to get in touch with us with feedback on this

0:48:48.560 --> 0:48:51.040
<v Speaker 1>episode or any other to suggest topic for the future,

0:48:51.120 --> 0:48:53.719
<v Speaker 1>just to say hello, you can email us at contact

0:48:53.760 --> 0:49:03.680
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0:49:03.680 --> 0:49:06.200
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0:49:06.280 --> 0:49:08.480
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