WEBVTT - The Seven Day Week, Part 2

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<v Speaker 1>Welcome to Stuff to Blow Your Mind, the production of

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<v Speaker 1>My Heart Radio. Hey you welcome to Stuff to Blow

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<v Speaker 1>your Mind. My name is Robert Lamb and I'm Joe McCormick,

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<v Speaker 1>and we're back with part two of our series on

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<v Speaker 1>the seven day Week. What is it? Where did it

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<v Speaker 1>come from? What? What's it doing in our brains? All

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<v Speaker 1>right now? When we cut off in the previous part

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<v Speaker 1>of this series about the week, you were talking a

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<v Speaker 1>bit about some sources you were reading about the history

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<v Speaker 1>of the week, where the seven day week comes from,

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<v Speaker 1>because obviously, you know, one of the main things we

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<v Speaker 1>we talked about in the last episode is that other

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<v Speaker 1>major blocks that we use for measuring times, such as

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<v Speaker 1>the month, the year, and the day, are all based

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<v Speaker 1>on facts about nature. Are usually about astronomy. You know,

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<v Speaker 1>how the Earth moves, Earth moves around the Sun, or

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<v Speaker 1>how the moon moves around the Earth. But the week

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<v Speaker 1>has no such basis in physical reality. It's an artificial construction,

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<v Speaker 1>with the possible exception that some people think there may

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<v Speaker 1>be some underlying biological uh rhythms that contribute to it.

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<v Speaker 1>One hypothesis that's been offered is the minstrual cycle or

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<v Speaker 1>things like that. But it's hard to know for sure.

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<v Speaker 1>So we know at least that the week is not

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<v Speaker 1>based in astronomy. So where does it come from historically? Yeah?

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<v Speaker 1>And in that we were getting into this idea of

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<v Speaker 1>the market week, the time it takes for vegetables or

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<v Speaker 1>fruits to uh to travel in from market, uh, be

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<v Speaker 1>sold in market, and then for uh the individuals who

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<v Speaker 1>brought it there to return then to the fields. Um.

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<v Speaker 1>This would be just a basic market cycle, a market week. Uh.

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<v Speaker 1>And one of the sources that I was discussing here

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<v Speaker 1>was um Avatar Zarubaville is the seven day circle. UM.

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<v Speaker 1>So you know, point the author here points to the

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<v Speaker 1>ten day market week of ancient southern China. Various other

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<v Speaker 1>systems as well. UM. Because again there's nothing set in

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<v Speaker 1>stone about it taking seven days to reach any given

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<v Speaker 1>market anywhere in the world. It's going to vary obviously. Uh.

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<v Speaker 1>So you have you have different systems that were in place,

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<v Speaker 1>the ten day system. We also see the eight day

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<v Speaker 1>system that emerged in what is now Italy. This is

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<v Speaker 1>the Etruscan system. And so the Truscan system that that

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<v Speaker 1>the name of that would come from the Etruscan culture,

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<v Speaker 1>a culture that inhabited the Italian peninsula before the Roman period, right,

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<v Speaker 1>and then the Romans would of course inherit the Intruscan system,

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<v Speaker 1>and this eventually became the internudenum tempests or the period

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<v Speaker 1>between the ninth day affairs, which Zaruberville rights involves the

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<v Speaker 1>Roman practice of inclusive counting, in which the last day

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<v Speaker 1>of one cycle is the first day of the next.

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<v Speaker 1>So this involves a market day held every eight days.

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<v Speaker 1>Market and social life revolved around this market day, and

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<v Speaker 1>schools and courts were closed for the day as well.

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<v Speaker 1>It was also a day to set work aside to

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<v Speaker 1>go to the baths um, and the cap limit for

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<v Speaker 1>guests was raised as well, so you could have more

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<v Speaker 1>people over on this market day. Now, the decline of

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<v Speaker 1>the eight day week, the author rights, coincided with the

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<v Speaker 1>expansion of Rome. It simply became too big for this

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<v Speaker 1>system to logistically work anymore. Um. And you know this

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<v Speaker 1>comes down to the fact that a true urban economy

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<v Speaker 1>ends up demanding continuous commerce. But this this was interesting

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<v Speaker 1>as well. I'm gonna read a quote from the seven

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<v Speaker 1>day circle here, uh quote. Coincidentally, the astrological and Christians

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<v Speaker 1>seven day weeks that had just been introduced into Rome,

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<v Speaker 1>were also becoming increasingly popular. There is evidence indicating that

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<v Speaker 1>the Roman eight day week and those two seven day

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<v Speaker 1>cycles were used simultaneously for some time. However, the coexistence

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<v Speaker 1>of two weekly rhythms that were entirely out of phase

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<v Speaker 1>with one another obviously could not be sustained for long.

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<v Speaker 1>One of them clearly had to give way. As we

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<v Speaker 1>all know, it was the eight day week that soon

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<v Speaker 1>disappeared from the pages of history forever. Okay, so you're

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<v Speaker 1>positing a time here where there exists such things as weeks,

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<v Speaker 1>sort of like the weeks we imagine, but not everybody's

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<v Speaker 1>using the same weeks at the same time, so they're

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<v Speaker 1>just sort of like overlapping different systems that different people

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<v Speaker 1>are using, which sounds incredibly chaotic and not especially useful. Yeah, yeah,

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<v Speaker 1>because it's it's it's hard to exactly imagine what this

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<v Speaker 1>would have been like because we think that the week

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<v Speaker 1>is just set in stone, it's just this this grid

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<v Speaker 1>work that arranges our lives. But too and and then

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<v Speaker 1>I'm tempted to try and think of it, well, maybe

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<v Speaker 1>would be like using both uh, you know, pounds and

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<v Speaker 1>uh and and and grahams or something, you know, having

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<v Speaker 1>to to use two different systems of measurement. But it's

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<v Speaker 1>not quite that either because because there's still like you know,

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<v Speaker 1>there's still a certain length to uh, you know, to

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<v Speaker 1>to some fencing or care at, etcetera. Um. But but

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<v Speaker 1>when you're dealing with with time here and you're dealing

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<v Speaker 1>with these market cycles, it it seems like you would

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<v Speaker 1>just you know, would just be this confusing arrangement to

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<v Speaker 1>have these two or more overlapping systems of different different

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<v Speaker 1>amounts of time. Well, it's a big difference. Is that. Say,

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<v Speaker 1>if you're converting from standard to metric, there's a fixed

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<v Speaker 1>conversion rate. It's not like how many pints go into

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<v Speaker 1>a leader changes every day. But if you but if

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<v Speaker 1>you have weeks of different numbers of days and everybody's

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<v Speaker 1>not on the same one, you can't just line it

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<v Speaker 1>up and say, oh, okay, this day in our cycle

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<v Speaker 1>is the is this other day and somebody else's cycle.

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<v Speaker 1>It would change every cycle because they're not the same numbers. Right.

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<v Speaker 1>Like imagine like thinking back on on like TV, uh,

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<v Speaker 1>just like TV programs and TV schedules, like what do

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<v Speaker 1>you have NBC and CBS um had not only like

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<v Speaker 1>different schedules of what's coming, but they had different calendars,

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<v Speaker 1>like different days of the week, like one did an

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<v Speaker 1>eight day cycle and the other one day to seven

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<v Speaker 1>day cycle. Like that would be that would be incredibly confusing,

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<v Speaker 1>you know, trying to figure out like what what is

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<v Speaker 1>on what day and what is opposite another show. It's

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<v Speaker 1>it's it's just like again, it's it's it's interesting to

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<v Speaker 1>try and imagine what this would have been like. But

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<v Speaker 1>if I'm understanding zarubaval right in this quote, what he's

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<v Speaker 1>saying is that, um, so you had this original sort

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<v Speaker 1>of eight day cycle, the Etruscan system that was inherited

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<v Speaker 1>by the Romans, but then you had these other systems

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<v Speaker 1>of seven day weeks, the the astrological, the Roman astrological

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<v Speaker 1>seven day week, and the Christian seven day week, which

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<v Speaker 1>I believe would be inherited at least in part from

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<v Speaker 1>the from the Jewish Sabbath observance. Yeah. That that all

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<v Speaker 1>this being said, it is important to realize that there

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<v Speaker 1>is still a reality to a market week cycle. In

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<v Speaker 1>many cases, you know, you have other four forces haven't changed.

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<v Speaker 1>What's happening with people actually ringing in crops and in

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<v Speaker 1>the in the economic activities surrounding the sale of those crops. Um.

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<v Speaker 1>Then even if you end up adopting, say a seven

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<v Speaker 1>day week, you can still see these other market cycles

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<v Speaker 1>uh coexisting with it, and he points to some examples

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<v Speaker 1>of this. Points out that both Christian and Islamic use

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<v Speaker 1>of the seven day week heavily influenced the continent of Africa.

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<v Speaker 1>But you still see four day market cycles in parts

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<v Speaker 1>of Africa, as well as eight and sixteen day weeks

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<v Speaker 1>as well. So these economic rhythms in many cases still

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<v Speaker 1>remain um or even if those economic rhythms shift like

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<v Speaker 1>they're still not going to necessarily uh you know, conform

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<v Speaker 1>completely to the seven day week cycle that has been

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<v Speaker 1>superimposed on a region. Now, he he points to in

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<v Speaker 1>UH some other week cycles that are that are pretty interesting.

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<v Speaker 1>He points uh for instance, to the nineteen day behind

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<v Speaker 1>cycle goal of social and religious activity, who was introduced

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<v Speaker 1>in eighteen forty four by the Persian prophet uh Saeed

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<v Speaker 1>Ali Mohammed also known as Bob b a b Uh.

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<v Speaker 1>It's generally spelled in English. UH. Nineteen is apparently a

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<v Speaker 1>mystical number in the Behigh Faith, and we see that

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<v Speaker 1>in the use of a nineteen week year in the

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<v Speaker 1>Behidh faith as well as a nineteen year va head

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<v Speaker 1>UM and then three hundred sixty one years make a

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<v Speaker 1>kola shay. And that's because nineteen times nineteen equals three

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<v Speaker 1>d sixty one UH. So UM all that's interesting as well.

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<v Speaker 1>Here's an entire system that's based on UH nineteen four

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<v Speaker 1>mystical purposes UH, spiritual purposes UH, similar to the the

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<v Speaker 1>adoption of the seven within UH, you know, the the

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<v Speaker 1>cycle that we we know and are immersed in. He

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<v Speaker 1>also mentions that the Maya, on the other hand, used

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<v Speaker 1>a twenty day um unital, which was the quote cornerstone

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<v Speaker 1>of the entire Maya time measuring system. UH. The Mayan

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<v Speaker 1>and the Aztecs solar calendars consisted of three hundred sixty

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<v Speaker 1>five days made up essentially of eighteen twenty day weeks

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<v Speaker 1>plus five blank days UH. They also had a two

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<v Speaker 1>hundred sixty day UH divination calendar year that was used

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<v Speaker 1>exclusively for divination. There's also a ninth century Indonesian system

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<v Speaker 1>that he mentions that they made use of both a

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<v Speaker 1>five day market week. Six five and seven day weeks

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<v Speaker 1>were used then to chronicle events and the Indonesian system

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<v Speaker 1>had several uses, but the main function, according to Zerubaville,

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<v Speaker 1>was divination. Uh. There were the right days to do

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<v Speaker 1>various things, both inherently sacred things such as say, bearing

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<v Speaker 1>the dead, and things that we might think of in

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<v Speaker 1>a sort of modern life as being mundane, things like

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<v Speaker 1>moving or starting a new business, but of course, within

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<v Speaker 1>the confines of a given culture, those things too may

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<v Speaker 1>be considered highly sacred. So these are more examples of

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<v Speaker 1>the what we talked about in the last episode, which

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<v Speaker 1>is that you know it depends on how you define

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<v Speaker 1>a week, to say where the week comes from. Because

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<v Speaker 1>there's a there's a history you can track of our

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<v Speaker 1>current unbroken system of seven day cycles, but there also

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<v Speaker 1>have been just lots of other things throughout the world,

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<v Speaker 1>throughout history that subdivided the month into some number of days,

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<v Speaker 1>but it wasn't necessarily the same as our seven day week, right.

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<v Speaker 1>And And I think it's interesting to think about how,

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<v Speaker 1>on on one hand, you have very practical, very real

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<v Speaker 1>world considerations and arranging these days in two weeks, uh

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<v Speaker 1>and and saying well, I need to know what we're

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<v Speaker 1>calling four days from today, I need to know what

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<v Speaker 1>we're calling eight days from today so that I can

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<v Speaker 1>plan things out, but then also getting into this divination

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<v Speaker 1>area of well, is there something about the day after

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<v Speaker 1>tomorrow that makes it more appropriate for me to do

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<v Speaker 1>this act or this other act or to make a

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<v Speaker 1>certain decision on that day. Um, and you kind of

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<v Speaker 1>get into the sort of the roots of divination that

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<v Speaker 1>we've discussed on the show before, where it becomes this

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<v Speaker 1>kind of um system that you know, you may and

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<v Speaker 1>it certainly entails supernatural ideas about seeing into the future

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<v Speaker 1>and using impulling luck uh and uh and you know

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<v Speaker 1>perhaps the uh, you know, the good will of various deities.

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<v Speaker 1>But it also is about like making uh, making space

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<v Speaker 1>for decision and like helping decisions be made, and and

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<v Speaker 1>and in introducing randomness in some cases. Yeah. Actually got

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<v Speaker 1>me wondering about the same thing, about whether a cycle

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<v Speaker 1>of days in a week, whether that's seven days or

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<v Speaker 1>whatever other numbers, just having a named day within the

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<v Speaker 1>cycle could aid in productivity and in spurring action uh

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<v Speaker 1>instead as opposed to say differring action forever, because if

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<v Speaker 1>you live in a system where you don't have named

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<v Speaker 1>days within a cycle. Again, I don't know this, I

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<v Speaker 1>don't have direct evidence of it. But I wonder if

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<v Speaker 1>that's sort of just um, we 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,

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<v Speaker 1>at least to a certain extent, always a deadline. Like

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<v Speaker 1>it's assuming again that you have a job where you

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<v Speaker 1>don't have to work on Saturday and Sunday, like that's

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<v Speaker 1>the last day of the week. So in many cases

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<v Speaker 1>you're trying to get something done, you're trying to reach

0:12:56.800 --> 0:12:59.400
<v Speaker 1>like some level of finality, right, or at least it

0:12:59.520 --> 0:13:01.920
<v Speaker 1>leans at it. It allows you to lean into that

0:13:02.000 --> 0:13:05.280
<v Speaker 1>interpretation anyway. Yeah, yeah, well it at least it gives

0:13:05.320 --> 0:13:08.360
<v Speaker 1>you a principle on which to organize those those timelines.

0:13:08.840 --> 0:13:11.839
<v Speaker 1>I mean again, I wonder like if we didn't have weeks,

0:13:11.880 --> 0:13:15.200
<v Speaker 1>and we just you know, just worked whenever, and you

0:13:15.240 --> 0:13:17.120
<v Speaker 1>were like, how long is it gonna take me to

0:13:17.160 --> 0:13:18.719
<v Speaker 1>do this? I mean, how how long do we We

0:13:18.720 --> 0:13:21.439
<v Speaker 1>would usually say, I don't know, one week, two weeks,

0:13:21.600 --> 0:13:24.000
<v Speaker 1>and what would you say that I'm gonna say, thirteen

0:13:24.080 --> 0:13:27.720
<v Speaker 1>days is how long it will take me. Yeah, there's

0:13:27.760 --> 0:13:30.680
<v Speaker 1>something weird about like a thirteen day estimate on something, right,

0:13:30.679 --> 0:13:34.480
<v Speaker 1>Why why not bump it up to fourteen days? Like

0:13:34.920 --> 0:13:37.800
<v Speaker 1>it would seem equally wrong to give a fifteen day

0:13:37.920 --> 0:13:40.240
<v Speaker 1>estimate on something like why is it taking two weeks

0:13:40.240 --> 0:13:42.320
<v Speaker 1>and one day? Why didn't it just take two weeks?

0:13:42.800 --> 0:13:51.920
<v Speaker 1>That just seems like trolling. Yeah, well, maybe here is

0:13:51.960 --> 0:13:55.520
<v Speaker 1>a good place to come back to some psychology research

0:13:55.679 --> 0:13:59.199
<v Speaker 1>about the effects of the week, because in the previous episode,

0:13:59.679 --> 0:14:03.280
<v Speaker 1>I may say, psychology paper that looked into what it

0:14:03.320 --> 0:14:06.959
<v Speaker 1>called mental representations of week days. This was by Ellis

0:14:07.040 --> 0:14:09.640
<v Speaker 1>at All, and we talked about it in the context

0:14:09.679 --> 0:14:11.920
<v Speaker 1>of the idea that while the week is broken into

0:14:11.920 --> 0:14:15.840
<v Speaker 1>different types of days, weekends and week days. Each day

0:14:16.080 --> 0:14:19.960
<v Speaker 1>is also its own distinct concept, and this paper examined

0:14:20.000 --> 0:14:22.640
<v Speaker 1>this in a number of ways. Overall, I'd say it's

0:14:22.720 --> 0:14:26.480
<v Speaker 1>findings would be not very surprising to anybody who's ever

0:14:26.520 --> 0:14:28.640
<v Speaker 1>been to school or had a full time job that

0:14:28.720 --> 0:14:32.160
<v Speaker 1>was organized on regular bank hours. But it's good to

0:14:32.200 --> 0:14:34.760
<v Speaker 1>have that information anyway, because a lot of times, you know,

0:14:35.120 --> 0:14:37.520
<v Speaker 1>I often have this thought where like, you do a

0:14:37.560 --> 0:14:41.040
<v Speaker 1>study and then the results come back and people say, like,

0:14:41.480 --> 0:14:43.600
<v Speaker 1>that's obvious. Why do you need to do a study

0:14:43.640 --> 0:14:47.080
<v Speaker 1>to know that. It's like, well, because if you if

0:14:47.080 --> 0:14:49.040
<v Speaker 1>you just go by your assumptions all the time, you're

0:14:49.040 --> 0:14:51.000
<v Speaker 1>actually going to turn out to be wrong a good bit,

0:14:51.120 --> 0:14:54.960
<v Speaker 1>so it's worth checking. But it did find that, for example,

0:14:54.960 --> 0:14:57.720
<v Speaker 1>people were most conscious of what day it was on

0:14:57.800 --> 0:15:01.240
<v Speaker 1>Mondays and on Fridays, as measured by reaction times when

0:15:01.240 --> 0:15:04.000
<v Speaker 1>asked to name the day. It found that people were

0:15:04.000 --> 0:15:06.960
<v Speaker 1>most likely to feel like it was the wrong day.

0:15:06.960 --> 0:15:08.640
<v Speaker 1>I feel like it was a different day than it

0:15:08.760 --> 0:15:12.080
<v Speaker 1>was on days that were in the midweek, so Tuesday, Wednesday,

0:15:12.080 --> 0:15:15.400
<v Speaker 1>and Thursdays. That's also not very surprising. Those are sort

0:15:15.440 --> 0:15:17.720
<v Speaker 1>of the the middle days. The days that are you know,

0:15:17.760 --> 0:15:20.240
<v Speaker 1>easy to get lost in the shuffle. It found that

0:15:20.280 --> 0:15:24.640
<v Speaker 1>in terms of affective response, people really really like Fridays

0:15:24.720 --> 0:15:27.800
<v Speaker 1>and really dislike Mondays, and the other days in between

0:15:28.240 --> 0:15:31.960
<v Speaker 1>basically just kind of slope up and down between those extremes.

0:15:32.520 --> 0:15:35.040
<v Speaker 1>And of course the standard note that these responses, as

0:15:35.040 --> 0:15:38.120
<v Speaker 1>well as the ones in the um uh studies I'm

0:15:38.120 --> 0:15:41.040
<v Speaker 1>about to mention here are are primarily, I think, from

0:15:41.080 --> 0:15:44.680
<v Speaker 1>industrialized societies in North America and Europe, where the seven

0:15:44.760 --> 0:15:47.480
<v Speaker 1>day work week is highly salient. I have no way

0:15:47.520 --> 0:15:50.320
<v Speaker 1>to prove it, but I strongly suspect that you would

0:15:50.400 --> 0:15:53.400
<v Speaker 1>not find these same patterns at all if you were

0:15:53.440 --> 0:15:57.560
<v Speaker 1>to exclusively survey populations that were less connected to this

0:15:57.680 --> 0:16:02.240
<v Speaker 1>type of of economic work cycle, for example rural farmers

0:16:02.400 --> 0:16:06.360
<v Speaker 1>or hunter gatherers. But since then, I just wanted to

0:16:06.360 --> 0:16:08.560
<v Speaker 1>talk about a bunch more studies I was looking at

0:16:08.920 --> 0:16:11.680
<v Speaker 1>about the days of the week and how we represent

0:16:11.800 --> 0:16:13.600
<v Speaker 1>them in our brains, how we feel about them, and

0:16:13.640 --> 0:16:17.560
<v Speaker 1>how they affect our behavior. Uh So, a couple that

0:16:17.600 --> 0:16:20.960
<v Speaker 1>I looked at had to do with people's feelings about

0:16:21.040 --> 0:16:22.680
<v Speaker 1>days of the week. Following up on that, you know

0:16:22.760 --> 0:16:25.840
<v Speaker 1>idea from the previous study that people like Fridays they

0:16:25.840 --> 0:16:28.480
<v Speaker 1>don't like Mondays. So one study I looked at was

0:16:28.520 --> 0:16:33.360
<v Speaker 1>from twenty eleven published in Psychological Reports by Charles s Irrany,

0:16:33.440 --> 0:16:38.280
<v Speaker 1>Mitchell Burger, and Natalina as Latevska called factors affecting the

0:16:38.320 --> 0:16:41.960
<v Speaker 1>extent of Monday Blues evidence from a meta analysis. This

0:16:42.040 --> 0:16:44.520
<v Speaker 1>was a meta analysis that looked at a bunch of

0:16:44.520 --> 0:16:48.640
<v Speaker 1>samples from previous studies that tracked both mood and days

0:16:48.680 --> 0:16:51.320
<v Speaker 1>of the week and tried to see if there were correlations,

0:16:51.720 --> 0:16:54.240
<v Speaker 1>and they said they did find evidence of a small

0:16:54.320 --> 0:16:57.960
<v Speaker 1>but reliable quote Monday blues effect, so people had worse

0:16:58.120 --> 0:17:01.720
<v Speaker 1>moods on Mondays, but the size of the effect varied

0:17:01.760 --> 0:17:06.080
<v Speaker 1>greatly depending on what types of demographic groups featured in

0:17:06.119 --> 0:17:10.280
<v Speaker 1>the sample. So for contrasts, they mentioned that samples focused

0:17:10.320 --> 0:17:15.200
<v Speaker 1>on university students showed a large and consistent Monday Blues

0:17:15.240 --> 0:17:19.919
<v Speaker 1>effect college students really hated Mondays, whereas samples limited to

0:17:20.200 --> 0:17:23.000
<v Speaker 1>a smaller, different cohort. The one they single out is

0:17:23.200 --> 0:17:26.960
<v Speaker 1>married men who were not students showed a smaller effect.

0:17:27.000 --> 0:17:29.680
<v Speaker 1>It was still there, but much smaller and with greater

0:17:29.840 --> 0:17:33.400
<v Speaker 1>variation between the samples. Rob, does this track with your

0:17:33.400 --> 0:17:36.159
<v Speaker 1>experience that you hated Mondays more when you were like

0:17:36.200 --> 0:17:40.520
<v Speaker 1>a college student or younger in general. Yeah. Yeah, and

0:17:40.600 --> 0:17:42.800
<v Speaker 1>it I mean, it's it's easy to sort of fall

0:17:42.840 --> 0:17:46.720
<v Speaker 1>on on sort of stereotypes when thinking about this. You know,

0:17:46.840 --> 0:17:49.400
<v Speaker 1>you think of like the college student is is out

0:17:49.440 --> 0:17:52.440
<v Speaker 1>partying all weekend and then open and they've got to

0:17:52.480 --> 0:17:55.879
<v Speaker 1>go to class Monday morning, and uh and the married

0:17:56.000 --> 0:18:02.280
<v Speaker 1>adult is maybe not partying all weekend. Um yeah, I um,

0:18:02.320 --> 0:18:05.080
<v Speaker 1>I don't. I don't think I ever remembered necessarily just

0:18:05.160 --> 0:18:07.760
<v Speaker 1>hating Mondays. But if I if I didn't like my job,

0:18:07.800 --> 0:18:11.120
<v Speaker 1>then I was probably adverse to going back on Monday

0:18:11.200 --> 0:18:15.720
<v Speaker 1>to work there. I feel like nowadays, though, like Monday,

0:18:16.080 --> 0:18:18.320
<v Speaker 1>I really don't have a problem with in large part

0:18:18.320 --> 0:18:21.240
<v Speaker 1>because I feel like I'm actually well rested on a Monday,

0:18:21.280 --> 0:18:25.879
<v Speaker 1>whereas I'm I'm less' not that I'm I'm like losing

0:18:25.880 --> 0:18:28.200
<v Speaker 1>a lot of sleep, but during the course of the week,

0:18:28.280 --> 0:18:30.560
<v Speaker 1>I feel like I kind of steadily lose a little

0:18:30.560 --> 0:18:33.160
<v Speaker 1>bit of sleep towards the end, so that Fridays I'm

0:18:33.160 --> 0:18:35.720
<v Speaker 1>a little more worn out, um, and then I catch

0:18:35.840 --> 0:18:37.760
<v Speaker 1>up in my sleep over the weekend, and by Monday,

0:18:37.800 --> 0:18:39.920
<v Speaker 1>I'm good to go. Yeah, that's something I think might

0:18:39.960 --> 0:18:42.800
<v Speaker 1>be underappreciated, especially when it gets to a study we'll

0:18:42.840 --> 0:18:46.320
<v Speaker 1>look at in a minute on um on on behavior

0:18:46.359 --> 0:18:49.200
<v Speaker 1>the the effects of cumulative fatigue over the course of

0:18:49.240 --> 0:18:52.320
<v Speaker 1>week days. I think that that is a very good idea.

0:18:52.720 --> 0:18:55.040
<v Speaker 1>But okay, so so that was that one study. Another

0:18:55.080 --> 0:18:58.199
<v Speaker 1>one I looked at was by Stone, Schneider, and Harder

0:18:58.680 --> 0:19:02.280
<v Speaker 1>I published in twelve of in the Journal of Positive Psychology.

0:19:02.320 --> 0:19:05.360
<v Speaker 1>This one used a huge telephone survey with like hundreds

0:19:05.359 --> 0:19:09.360
<v Speaker 1>of thousands of participants, tested for demographic variables and how

0:19:09.400 --> 0:19:12.200
<v Speaker 1>people felt about different days of the week. They found,

0:19:12.240 --> 0:19:16.639
<v Speaker 1>again unsurprisingly, a strong preference for weekends. People really really

0:19:16.680 --> 0:19:21.800
<v Speaker 1>love Fridays. They like weekends. Uh. This study found weaker

0:19:21.840 --> 0:19:25.240
<v Speaker 1>evidence that people really hate Mondays. Uh. It was it

0:19:25.280 --> 0:19:28.920
<v Speaker 1>was a more reduced Monday blues effect, but they did

0:19:28.960 --> 0:19:31.800
<v Speaker 1>find some variations. This one also found that day of

0:19:31.840 --> 0:19:35.280
<v Speaker 1>the week effects on mood in general were more pronounced

0:19:35.320 --> 0:19:38.760
<v Speaker 1>in younger people generally, and that day of the week

0:19:38.800 --> 0:19:42.360
<v Speaker 1>had less effect on mood for older people and especially

0:19:42.400 --> 0:19:45.679
<v Speaker 1>retired people. So that might not be surprising because I

0:19:45.720 --> 0:19:48.600
<v Speaker 1>think a lot of these day of the week effects

0:19:48.640 --> 0:19:50.520
<v Speaker 1>probably have to do with when you have to go

0:19:50.600 --> 0:19:53.680
<v Speaker 1>to work. Uh. They found no differences on the basis

0:19:53.680 --> 0:19:56.560
<v Speaker 1>of gender or on the basis of the presence of

0:19:56.560 --> 0:19:59.479
<v Speaker 1>a romantic partner. Now, it does seem strange that there

0:19:59.480 --> 0:20:02.560
<v Speaker 1>wouldn't be much emphasis put on Wednesday, though, because it

0:20:02.560 --> 0:20:05.359
<v Speaker 1>seems like Wednesday is hump Day, right, Like Wednesday is

0:20:05.440 --> 0:20:08.320
<v Speaker 1>the day where you may, uh, you know, feel the

0:20:08.400 --> 0:20:11.680
<v Speaker 1>satisfaction of knowing that the the you're you're halfway there,

0:20:12.359 --> 0:20:14.639
<v Speaker 1>You're you're more than halfway there, you are over the

0:20:14.720 --> 0:20:17.160
<v Speaker 1>hump and headed in towards that Friday that you're looking

0:20:17.160 --> 0:20:20.560
<v Speaker 1>forward to. You want scientific confirmation of hump day, hump

0:20:20.640 --> 0:20:23.360
<v Speaker 1>Day confirmed. It's like if hump day is I mean

0:20:23.359 --> 0:20:25.560
<v Speaker 1>this kind of we come into our assumptions, right, I

0:20:25.600 --> 0:20:28.320
<v Speaker 1>have these assumptions about hump days. But if those assumptions

0:20:28.320 --> 0:20:30.400
<v Speaker 1>are not borne out in uh, in the data, then

0:20:30.680 --> 0:20:33.760
<v Speaker 1>then maybe it's just like it's a silly notion. Anyway, Well,

0:20:33.800 --> 0:20:36.000
<v Speaker 1>there may be some ways in which hump day is

0:20:36.040 --> 0:20:38.560
<v Speaker 1>a salient effect, but it just kind of gets lost

0:20:38.640 --> 0:20:41.240
<v Speaker 1>in the noise of this this big study with a

0:20:41.240 --> 0:20:43.919
<v Speaker 1>bunch of other things going on. Maybe it doesn't show up,

0:20:43.960 --> 0:20:46.560
<v Speaker 1>just fades into the noise when you're asking people, how

0:20:46.600 --> 0:20:49.080
<v Speaker 1>do you feel about today, about this day of the week,

0:20:49.359 --> 0:20:51.520
<v Speaker 1>or how do you feel today on the day that

0:20:51.560 --> 0:20:54.560
<v Speaker 1>I'm asking you this as opposed to other more targeted

0:20:54.680 --> 0:20:57.159
<v Speaker 1>questions that may pull out the hump day nous of

0:20:57.240 --> 0:21:01.320
<v Speaker 1>hump day, maybe questions about like optimism about the future

0:21:01.400 --> 0:21:05.760
<v Speaker 1>or something. Now you could ask another question. Again, we've

0:21:05.800 --> 0:21:08.120
<v Speaker 1>been talking about, well, what's obvious or what we would

0:21:08.200 --> 0:21:10.399
<v Speaker 1>just assume, But here's another question. Seems like it has

0:21:10.440 --> 0:21:13.680
<v Speaker 1>an obvious answer. Why do people seem to like weekends

0:21:13.800 --> 0:21:16.160
<v Speaker 1>so much more than week days? I think I think

0:21:16.160 --> 0:21:18.600
<v Speaker 1>both common intuition as well as some of the data

0:21:18.640 --> 0:21:21.200
<v Speaker 1>we've looked at already would tell us it's because people

0:21:21.280 --> 0:21:25.119
<v Speaker 1>like being off work. Uh though interestingly, of course, not

0:21:25.200 --> 0:21:28.359
<v Speaker 1>everybody's work hours conformed to the standard Monday to Friday

0:21:28.440 --> 0:21:31.320
<v Speaker 1>nine to five, and some people and some people also,

0:21:31.400 --> 0:21:33.040
<v Speaker 1>you know, even if they do conform to that, really

0:21:33.119 --> 0:21:35.560
<v Speaker 1>enjoy their work. But at least at the population level,

0:21:35.560 --> 0:21:37.960
<v Speaker 1>this effect shows up strongly anyway. So I don't know

0:21:38.000 --> 0:21:41.160
<v Speaker 1>if you know people who are restaurant servers whose busiest

0:21:41.200 --> 0:21:43.119
<v Speaker 1>work is on the weekends or something like that, if

0:21:43.160 --> 0:21:46.080
<v Speaker 1>they're just not enough of them to balance out the

0:21:46.119 --> 0:21:49.119
<v Speaker 1>survey data, or maybe somehow, even though it's their busy

0:21:49.160 --> 0:21:52.240
<v Speaker 1>work times, they that they prefer weekends as well. I

0:21:52.240 --> 0:21:54.439
<v Speaker 1>don't know. I I haven't found data on that. But

0:21:54.600 --> 0:21:57.679
<v Speaker 1>this question of what causes people to enjoy weekends the

0:21:57.720 --> 0:22:02.240
<v Speaker 1>most has also been analyzed in psychology research, sometimes referred

0:22:02.280 --> 0:22:05.640
<v Speaker 1>to as the weekend effect. And I was looking at

0:22:05.680 --> 0:22:08.359
<v Speaker 1>a study from ten in the Journal of Social and

0:22:08.359 --> 0:22:13.680
<v Speaker 1>Clinical Psychology by Ryan Bernstein and Brown called weekends work

0:22:13.720 --> 0:22:16.600
<v Speaker 1>and well being psychological need satisfactions in the day of

0:22:16.600 --> 0:22:20.360
<v Speaker 1>the week effects on mood, vitality, and physical symptoms. Uh.

0:22:20.600 --> 0:22:23.440
<v Speaker 1>The sells true for all different kinds of jobs, no

0:22:23.600 --> 0:22:26.760
<v Speaker 1>matter you know what kind of work you had. In general,

0:22:26.880 --> 0:22:31.080
<v Speaker 1>on average, people like weekends better than week days and

0:22:31.200 --> 0:22:35.440
<v Speaker 1>uh and not just like them better. Like that. They reported, say,

0:22:35.800 --> 0:22:40.560
<v Speaker 1>fewer physical aches and pains on the weekends and reported

0:22:40.680 --> 0:22:43.960
<v Speaker 1>feeling that this. I thought this was really interesting. People

0:22:44.000 --> 0:22:48.080
<v Speaker 1>reported that they generally felt more quote competent on weekends

0:22:48.080 --> 0:22:50.600
<v Speaker 1>than week days. You might assume the opposite would be true,

0:22:50.640 --> 0:22:53.320
<v Speaker 1>that people feel like, Okay, I'm competent in my job,

0:22:53.359 --> 0:22:56.879
<v Speaker 1>so I'm competent on week days. But no people felt

0:22:56.920 --> 0:23:01.400
<v Speaker 1>competent on the weekends. Maybe that's just because jobs are overwhelming,

0:23:01.520 --> 0:23:04.119
<v Speaker 1>or because the nature of work is often such that

0:23:04.200 --> 0:23:07.080
<v Speaker 1>it interferes with your ability to do your job as

0:23:07.119 --> 0:23:09.480
<v Speaker 1>well as you could be doing it. But anyway, this

0:23:09.520 --> 0:23:12.720
<v Speaker 1>study looked at different factors that could be influencing why

0:23:12.840 --> 0:23:15.760
<v Speaker 1>people have such a strong preference for weekends, and the

0:23:15.800 --> 0:23:20.400
<v Speaker 1>researchers concluded that the most important factors were probably too

0:23:20.720 --> 0:23:23.320
<v Speaker 1>One of them is the ability to spend quality time

0:23:23.359 --> 0:23:26.000
<v Speaker 1>with friends and family with loved ones, and the other

0:23:26.160 --> 0:23:29.159
<v Speaker 1>is the freedom to choose one's own activities. People like

0:23:29.240 --> 0:23:33.040
<v Speaker 1>self determination in what activities they engage in. So you

0:23:33.080 --> 0:23:36.119
<v Speaker 1>might imagine a scenario where somebody is off work for

0:23:36.160 --> 0:23:38.040
<v Speaker 1>the weekend. They don't have to go to their job,

0:23:38.359 --> 0:23:41.520
<v Speaker 1>but they don't get to spend quality time with loved ones,

0:23:42.000 --> 0:23:44.080
<v Speaker 1>and their time is taken up with some kind of

0:23:44.119 --> 0:23:47.600
<v Speaker 1>obligatory activity that they don't choose themselves. And in that case,

0:23:47.640 --> 0:23:49.760
<v Speaker 1>it might not actually feel like a weekend at all.

0:23:49.800 --> 0:23:52.120
<v Speaker 1>It might be just as bad as work or worse.

0:23:52.760 --> 0:23:54.879
<v Speaker 1>I know I have this experience. I can get really

0:23:54.920 --> 0:23:58.080
<v Speaker 1>down about like a weekend that is just jammed up

0:23:58.119 --> 0:24:04.960
<v Speaker 1>with unwanted obligatory act activities. Yeah, yeah, I mean, I know,

0:24:05.040 --> 0:24:07.800
<v Speaker 1>for my own part, there are things like, for instance,

0:24:07.880 --> 0:24:11.919
<v Speaker 1>listening to music. I might I almost certainly listen to

0:24:12.119 --> 0:24:15.800
<v Speaker 1>music more on my own during the work week, Uh,

0:24:15.880 --> 0:24:19.120
<v Speaker 1>just because I'm plugged in more or and in some

0:24:19.160 --> 0:24:21.120
<v Speaker 1>cases or released in the past. You know, I've I've

0:24:21.160 --> 0:24:23.639
<v Speaker 1>been commuting and so there will be more sort of

0:24:23.640 --> 0:24:26.399
<v Speaker 1>designated media time during the commute. And then on the

0:24:26.400 --> 0:24:28.879
<v Speaker 1>weekends you don't have that. So not not not that

0:24:28.880 --> 0:24:32.359
<v Speaker 1>that necessarily pushes weekend good or bad, but it certainly

0:24:32.560 --> 0:24:34.960
<v Speaker 1>gives it a slightly different flavor. There there are things

0:24:35.040 --> 0:24:38.840
<v Speaker 1>that the weekend cannot offer that the that than the

0:24:38.920 --> 0:24:42.239
<v Speaker 1>normal weekdays do. Yeah, yeah, totally. So, I don't know.

0:24:42.600 --> 0:24:45.800
<v Speaker 1>The ability to determine one's own activities and the ability

0:24:45.840 --> 0:24:49.200
<v Speaker 1>to spend quality time with loved ones whenever that happens.

0:24:49.240 --> 0:24:52.240
<v Speaker 1>It seems like those are are major factors that increase

0:24:52.320 --> 0:24:56.760
<v Speaker 1>people's feeling of well being along multiple axes. Um. But

0:24:57.000 --> 0:25:00.080
<v Speaker 1>it just so happens that those things on average and

0:25:00.200 --> 0:25:03.600
<v Speaker 1>the most on weekends for people. But you know, individual

0:25:03.640 --> 0:25:07.000
<v Speaker 1>mileage may vary. But but while the previous results might

0:25:07.040 --> 0:25:09.360
<v Speaker 1>be pretty obvious, you could also imagine that there could

0:25:09.400 --> 0:25:12.639
<v Speaker 1>be other effects of the seven day week on human

0:25:12.680 --> 0:25:17.600
<v Speaker 1>psychology and particularly on behavior. Now, again, these would be

0:25:17.680 --> 0:25:21.160
<v Speaker 1>highly dependent on a person's economic and cultural surroundings, because,

0:25:21.200 --> 0:25:23.760
<v Speaker 1>as we talked about in the last episode, basically all

0:25:23.760 --> 0:25:26.119
<v Speaker 1>the evidence indicates that the seven day week is is

0:25:26.160 --> 0:25:29.080
<v Speaker 1>not a fact of nature, but but a mental technology,

0:25:29.200 --> 0:25:31.439
<v Speaker 1>something we have created. So it will depend on what

0:25:31.520 --> 0:25:33.919
<v Speaker 1>kind of week you use and what the week is

0:25:34.080 --> 0:25:36.520
<v Speaker 1>used for in the place where you live. A couple

0:25:36.520 --> 0:25:39.200
<v Speaker 1>of random examples that have been observed over the years

0:25:39.240 --> 0:25:42.080
<v Speaker 1>that I wanted to point out. So one is the

0:25:42.160 --> 0:25:46.119
<v Speaker 1>question of does the stock market behave differently depending on

0:25:46.200 --> 0:25:49.840
<v Speaker 1>what day of the week it is other factors being equal. Uh,

0:25:49.840 --> 0:25:52.879
<v Speaker 1>this one doesn't seem totally clear. It. It looks to

0:25:52.880 --> 0:25:56.200
<v Speaker 1>me like some studies looking into this have found a correlation.

0:25:56.760 --> 0:25:59.639
<v Speaker 1>Others have have not, or have argued that the correlations

0:25:59.680 --> 0:26:02.760
<v Speaker 1>that have been found can be explained away. Um. But

0:26:03.000 --> 0:26:05.360
<v Speaker 1>just as one example of of a study that did

0:26:05.400 --> 0:26:08.240
<v Speaker 1>find a correlation and said it couldn't be explained away,

0:26:08.359 --> 0:26:12.320
<v Speaker 1>there was Gibbons and Hess from the Journal of Business

0:26:12.440 --> 0:26:16.120
<v Speaker 1>in nineteen one. The article was titled day of the Week,

0:26:16.160 --> 0:26:20.320
<v Speaker 1>effects and asset returns, and this found against prediction that

0:26:20.560 --> 0:26:24.520
<v Speaker 1>expected returns for stocks and bills on Mondays were lower

0:26:24.560 --> 0:26:26.840
<v Speaker 1>than for other days of the week, or perhaps sometimes

0:26:26.880 --> 0:26:29.919
<v Speaker 1>even negative. And they were just like, we don't know

0:26:29.960 --> 0:26:32.080
<v Speaker 1>how to explain this. We don't know of what factor

0:26:32.119 --> 0:26:36.000
<v Speaker 1>would would explain this. Another example I found in a

0:26:36.080 --> 0:26:40.800
<v Speaker 1>paper by Ellis and Jenkins published in UH plus one

0:26:41.080 --> 0:26:44.359
<v Speaker 1>in twelve and for many years I've been calling this

0:26:44.440 --> 0:26:46.880
<v Speaker 1>journal p l OS one. A lot of people say

0:26:46.960 --> 0:26:49.880
<v Speaker 1>that way, but I just read an article saying that

0:26:49.880 --> 0:26:53.120
<v Speaker 1>the pronunciation, of course that stands for Public Library of Science.

0:26:53.160 --> 0:26:56.000
<v Speaker 1>But so it is an acronym. But but they say

0:26:56.000 --> 0:26:58.600
<v Speaker 1>plas rhyming with FLOSS. So from now on, I'm gonna

0:26:58.600 --> 0:27:02.639
<v Speaker 1>try to remember to flaw us like plas plus instead

0:27:02.640 --> 0:27:05.360
<v Speaker 1>of p l O S. Yeah, but how about plos

0:27:06.160 --> 0:27:09.240
<v Speaker 1>sometimes it's kind of since we have like often a

0:27:09.280 --> 0:27:12.359
<v Speaker 1>capital P lower case L O than capital S, it

0:27:12.359 --> 0:27:16.879
<v Speaker 1>seems like that would be US. I know now that

0:27:16.880 --> 0:27:18.240
<v Speaker 1>I've said it, I'm gonna get it wrong in the

0:27:18.280 --> 0:27:21.600
<v Speaker 1>future and look stupid. Plus plus plus like floss. Okay,

0:27:21.640 --> 0:27:25.560
<v Speaker 1>so plus one UH. The the articles titled weekday effects

0:27:25.600 --> 0:27:30.640
<v Speaker 1>Attendance Rate for medical appointments Large scale data analysis and implications.

0:27:30.640 --> 0:27:34.240
<v Speaker 1>This study examined over four point five million hospital appointment

0:27:34.240 --> 0:27:37.400
<v Speaker 1>records from Scotland between two thousand eight and two thousand ten,

0:27:38.000 --> 0:27:41.359
<v Speaker 1>and it definitely found a trend. They found that the

0:27:41.359 --> 0:27:45.359
<v Speaker 1>the did not attend rate was quote highest for Mondays

0:27:45.440 --> 0:27:49.280
<v Speaker 1>eleven percent and lowest for Friday's nine point seven percent,

0:27:49.720 --> 0:27:52.840
<v Speaker 1>and decreased monotonically over the week. So it went down

0:27:52.880 --> 0:27:55.359
<v Speaker 1>over the week until it got to the lowest on Fridays.

0:27:56.000 --> 0:27:58.000
<v Speaker 1>And in keeping with the trend, we've we've seen a

0:27:58.000 --> 0:28:00.879
<v Speaker 1>few times here that there may be a day of

0:28:00.920 --> 0:28:04.359
<v Speaker 1>week effects difference by age. The study found that the

0:28:04.400 --> 0:28:10.320
<v Speaker 1>pattern was steeper for younger age groups than for older ones. Well,

0:28:10.359 --> 0:28:12.680
<v Speaker 1>you know, it's it's one is tempted to fall back

0:28:12.680 --> 0:28:15.240
<v Speaker 1>on stereotypes there as well and say, well, maybe younger

0:28:15.280 --> 0:28:20.520
<v Speaker 1>people are less concerned about about health matters versus older people.

0:28:20.600 --> 0:28:23.239
<v Speaker 1>But that's those are generalities and I'm not sure if

0:28:23.240 --> 0:28:26.440
<v Speaker 1>we can really lean too heavily on those. But why

0:28:26.440 --> 0:28:28.240
<v Speaker 1>would that affect today of the week? I mean it

0:28:28.240 --> 0:28:30.320
<v Speaker 1>would still it would mean that younger people are less

0:28:30.359 --> 0:28:34.320
<v Speaker 1>concerned about health matters, maybe on Mondays, Tuesdays and do

0:28:34.359 --> 0:28:37.840
<v Speaker 1>they get more concerned as they've been partying all weekend.

0:28:37.880 --> 0:28:40.240
<v Speaker 1>I guess I don't know, but I know that that

0:28:40.400 --> 0:28:44.720
<v Speaker 1>even as a as an adult, um, I uh, there

0:28:44.720 --> 0:28:47.960
<v Speaker 1>have been times where I reached Sunday and then I say,

0:28:48.200 --> 0:28:49.840
<v Speaker 1>I look at the calendars, like, all right, what's coming

0:28:49.920 --> 0:28:52.400
<v Speaker 1>up this week? What did I what did I you know,

0:28:52.520 --> 0:28:55.320
<v Speaker 1>put in the books for the week ahead, And then

0:28:55.320 --> 0:28:57.840
<v Speaker 1>I'll say, oh, I have a dental appointment on Monday,

0:28:57.880 --> 0:29:00.320
<v Speaker 1>and I and there might be a temptation to want

0:29:00.320 --> 0:29:03.760
<v Speaker 1>to rearrange that just because you know, the nature of

0:29:03.800 --> 0:29:06.920
<v Speaker 1>the Monday is that you know, maybe you're not maybe

0:29:06.920 --> 0:29:09.040
<v Speaker 1>you're not excited about Monday, or maybe you are excited

0:29:09.040 --> 0:29:11.360
<v Speaker 1>about actually getting some work done on on Monday, kicking

0:29:11.360 --> 0:29:14.320
<v Speaker 1>the week off right, and it doesn't feel appropriate maybe

0:29:14.360 --> 0:29:17.480
<v Speaker 1>to then spend an hour or more somewhere else, even

0:29:17.520 --> 0:29:20.240
<v Speaker 1>if it is something important like a medical appointment. I

0:29:20.320 --> 0:29:22.600
<v Speaker 1>know exactly what you're talking about. Man, When you know

0:29:22.680 --> 0:29:25.440
<v Speaker 1>you're scheduling six months out at the dentist or something,

0:29:25.520 --> 0:29:28.240
<v Speaker 1>and you're like, uh, yeah, Monday, that sounds good, and

0:29:28.280 --> 0:29:31.880
<v Speaker 1>then it's that Sunday and you're like, oh, no, I

0:29:31.320 --> 0:29:33.760
<v Speaker 1>can do this. Yeah, I should have put it on

0:29:33.800 --> 0:29:44.400
<v Speaker 1>a Thursday. The two examples I was just talking about

0:29:44.440 --> 0:29:48.960
<v Speaker 1>of possible weekly fluctuations and human behavior with the stock

0:29:49.040 --> 0:29:53.200
<v Speaker 1>markets and with missed appointments missed medical appointments. Those were

0:29:53.240 --> 0:29:55.959
<v Speaker 1>both mentioned in the background of a paper from sixteen

0:29:56.000 --> 0:29:58.640
<v Speaker 1>which I want to talk about because I found it interesting.

0:29:59.400 --> 0:30:04.520
<v Speaker 1>And this paper, uh, experimentally explored a unifying concept that

0:30:04.720 --> 0:30:08.920
<v Speaker 1>might explain a number of weekly changes in behavior patterns,

0:30:09.560 --> 0:30:13.959
<v Speaker 1>and that explanation would be in risk tolerance. So this

0:30:14.000 --> 0:30:17.680
<v Speaker 1>paper is by Jet G. Sanders and Rob Jenkins published

0:30:17.680 --> 0:30:23.320
<v Speaker 1>in Plus one in called weekly Fluctuations and Risk tolerance

0:30:23.360 --> 0:30:27.360
<v Speaker 1>and voting behavior. And so the authors of this paper

0:30:27.360 --> 0:30:31.080
<v Speaker 1>point out several observed trends in human behavior across days

0:30:31.080 --> 0:30:33.080
<v Speaker 1>of the week, including the two I mentioned a minute

0:30:33.080 --> 0:30:35.800
<v Speaker 1>ago with stocks and and medical appointments, But they also

0:30:35.880 --> 0:30:38.920
<v Speaker 1>point out things as serious as rates of attempted suicide.

0:30:38.920 --> 0:30:41.400
<v Speaker 1>There are there are, uh you know, you can observe

0:30:41.440 --> 0:30:44.760
<v Speaker 1>trends throughout the week in all kinds of human behaviors.

0:30:45.400 --> 0:30:48.080
<v Speaker 1>But they argue that despite these observations, there has not

0:30:48.160 --> 0:30:51.840
<v Speaker 1>yet been a unified psychological explanation for them. There's not

0:30:51.960 --> 0:30:55.400
<v Speaker 1>one uh, explanation that people have been able to give

0:30:55.480 --> 0:30:58.480
<v Speaker 1>yet it would say, here's why we're observing these trends.

0:30:59.200 --> 0:31:02.640
<v Speaker 1>And in this paper, the author's hypothesized that one psychological

0:31:02.720 --> 0:31:05.600
<v Speaker 1>factor which could influence a wide range of behaviors by

0:31:05.600 --> 0:31:09.680
<v Speaker 1>fluctuating throughout the week is risk tolerance. Now, they did

0:31:09.800 --> 0:31:12.160
<v Speaker 1>multiple studies to look at this, but the first one

0:31:12.240 --> 0:31:14.360
<v Speaker 1>that was like a direct lab study I thought was

0:31:14.440 --> 0:31:18.080
<v Speaker 1>interesting because it involved a computer game that is designed

0:31:18.160 --> 0:31:21.959
<v Speaker 1>to measure risk tolerance. And this is called the BART test.

0:31:22.880 --> 0:31:26.520
<v Speaker 1>BART is an acronym. It stands for Balloon Analog Risk

0:31:26.800 --> 0:31:30.360
<v Speaker 1>Task And as with a lot of these psychological tools,

0:31:30.640 --> 0:31:33.520
<v Speaker 1>so the BART is really designed to try to reduce

0:31:33.640 --> 0:31:37.160
<v Speaker 1>or eliminate the influence of other variables to get as

0:31:37.200 --> 0:31:40.800
<v Speaker 1>close as possible to testing just the factor in question,

0:31:40.880 --> 0:31:44.719
<v Speaker 1>in this case, risk tolerance. And the test works like this. Okay,

0:31:45.000 --> 0:31:47.400
<v Speaker 1>so Rob you imagine you sit down at a computer

0:31:48.200 --> 0:31:50.560
<v Speaker 1>and you've been told in advance that you're gonna play

0:31:50.600 --> 0:31:53.880
<v Speaker 1>a computer game that will lead to a variable cash

0:31:53.960 --> 0:31:56.000
<v Speaker 1>payout at the end. You're gonna get some money by

0:31:56.000 --> 0:31:59.640
<v Speaker 1>playing this game, but the money depends on your performance,

0:31:59.800 --> 0:32:02.240
<v Speaker 1>and so the game works like this, In the game,

0:32:02.400 --> 0:32:05.880
<v Speaker 1>you have a series of twenty balloons that you get

0:32:05.960 --> 0:32:08.920
<v Speaker 1>to inflate one at a time. So you start on

0:32:08.960 --> 0:32:11.600
<v Speaker 1>the first balloon and you press a button I think

0:32:11.640 --> 0:32:15.640
<v Speaker 1>space bar to inflate this cartoon balloon. And every time

0:32:15.680 --> 0:32:18.920
<v Speaker 1>you press the button there is a money value contained

0:32:18.960 --> 0:32:21.840
<v Speaker 1>in the balloon that goes up, so say it's increasing

0:32:21.880 --> 0:32:24.400
<v Speaker 1>by a penny every time you hit the space bar,

0:32:24.840 --> 0:32:27.280
<v Speaker 1>So you're hitting the space you're increasing your payout. But

0:32:28.240 --> 0:32:31.480
<v Speaker 1>as you keep inflating the balloon, you get closer and

0:32:31.560 --> 0:32:36.160
<v Speaker 1>closer to some randomized point where the balloon will pop.

0:32:36.200 --> 0:32:38.720
<v Speaker 1>And if you reach that point in the balloon pops,

0:32:38.800 --> 0:32:41.120
<v Speaker 1>you lose all the money you've earned so far, it

0:32:41.200 --> 0:32:44.400
<v Speaker 1>all goes away. So what you're trying to do is

0:32:44.440 --> 0:32:47.959
<v Speaker 1>inflated as much as you can without it popping, and

0:32:48.000 --> 0:32:50.840
<v Speaker 1>then get and then you're gonna do something called banking it,

0:32:50.920 --> 0:32:52.800
<v Speaker 1>which means you say, Okay, I'm done with this balloon.

0:32:53.120 --> 0:32:55.080
<v Speaker 1>I'm not going to inflate it anymore. I'll just take

0:32:55.120 --> 0:32:58.480
<v Speaker 1>whatever money is in there now. Yeah, And there's similar

0:32:58.560 --> 0:33:01.720
<v Speaker 1>I've seen some stals of what these, uh, the simple

0:33:01.760 --> 0:33:03.200
<v Speaker 1>games tend to look like, and they tend to be

0:33:03.320 --> 0:33:06.040
<v Speaker 1>very simple because it's not about believing that you're looking

0:33:06.080 --> 0:33:08.320
<v Speaker 1>at a balloon. It's about like the basic risk, like

0:33:08.360 --> 0:33:10.280
<v Speaker 1>do do I risk it now? Do I risk it now?

0:33:10.600 --> 0:33:13.000
<v Speaker 1>But you you find a similar mechanic in some games

0:33:13.040 --> 0:33:15.920
<v Speaker 1>as well, where it'll be something on the line, and

0:33:15.960 --> 0:33:17.960
<v Speaker 1>do you keep pushing it, do you keep holding or

0:33:18.000 --> 0:33:19.880
<v Speaker 1>do you go ahead and cash out? It's the basic

0:33:19.880 --> 0:33:22.320
<v Speaker 1>double down principle. Yeah, and so I think, yeah, a

0:33:22.360 --> 0:33:24.400
<v Speaker 1>game like this is a is a pretty good attempt

0:33:24.400 --> 0:33:28.520
<v Speaker 1>to isolate risk tolerance as as its own variable like that,

0:33:28.680 --> 0:33:31.840
<v Speaker 1>there's that's pretty much directly what it's testing. There's not

0:33:31.880 --> 0:33:34.080
<v Speaker 1>a lot else that you could imagine is going into this.

0:33:34.480 --> 0:33:36.560
<v Speaker 1>So every single moment of the game, you can either

0:33:36.720 --> 0:33:41.480
<v Speaker 1>gamble by inflating the balloon more, potentially increasing your ultimate payout,

0:33:41.880 --> 0:33:44.480
<v Speaker 1>but also risking losing everything you've you've gotten on this

0:33:44.520 --> 0:33:47.120
<v Speaker 1>balloon so far, or you can bank it and and

0:33:47.240 --> 0:33:50.520
<v Speaker 1>keep that money start the next balloon. The obvious correlation

0:33:50.600 --> 0:33:53.320
<v Speaker 1>is that people with a lower risk tolerance at the

0:33:53.360 --> 0:33:56.480
<v Speaker 1>time they're playing the game will tend to bank balloons

0:33:56.520 --> 0:34:00.120
<v Speaker 1>earlier and protect the gains they've already made, whereas but

0:34:00.200 --> 0:34:03.000
<v Speaker 1>with a higher risk tolerance while they're playing the game

0:34:03.280 --> 0:34:06.719
<v Speaker 1>will tend to keep inflating to make the payouts bigger,

0:34:06.840 --> 0:34:09.120
<v Speaker 1>you know, with the increased risk of losing the whole pot.

0:34:09.280 --> 0:34:12.200
<v Speaker 1>And of course, you know, risk tolerance is going to

0:34:12.320 --> 0:34:16.720
<v Speaker 1>vary to some degree by by like fixed personality traits,

0:34:16.760 --> 0:34:19.160
<v Speaker 1>like some people are just more risk tolerant than other

0:34:19.239 --> 0:34:22.400
<v Speaker 1>people across the board. But then it's also going to

0:34:22.520 --> 0:34:25.839
<v Speaker 1>vary moment to moment by but within a person. So

0:34:25.880 --> 0:34:28.680
<v Speaker 1>a person might have a generally high, low, or average

0:34:28.800 --> 0:34:31.480
<v Speaker 1>risk tolerance, but other factors I don't know. Maybe if

0:34:31.480 --> 0:34:34.680
<v Speaker 1>you give somebody a few alcoholic beverages, their risk tolerance

0:34:34.680 --> 0:34:37.719
<v Speaker 1>probably goes up. This is why casinos like to give

0:34:37.719 --> 0:34:42.319
<v Speaker 1>people free drinks. And apparently the Bart test has has

0:34:42.360 --> 0:34:45.360
<v Speaker 1>been shown to predict real world risk taking in domains

0:34:45.400 --> 0:34:48.000
<v Speaker 1>like health and economics, so it seems like this is

0:34:48.000 --> 0:34:50.480
<v Speaker 1>probably a pretty good test. People who take more risks

0:34:50.480 --> 0:34:53.440
<v Speaker 1>in the game also take more risks in real life.

0:34:54.000 --> 0:34:55.840
<v Speaker 1>So in this study they played this game with a

0:34:55.920 --> 0:34:58.319
<v Speaker 1>number of controls in place to try to isolate day

0:34:58.360 --> 0:35:01.759
<v Speaker 1>of the week as the only relevant difference. Now a

0:35:01.840 --> 0:35:04.360
<v Speaker 1>caveat the sample size on the study was not huge.

0:35:04.400 --> 0:35:07.359
<v Speaker 1>It was twenty five players across five sessions each, so

0:35:07.440 --> 0:35:10.520
<v Speaker 1>a total of a hundred and twenty five barts um.

0:35:10.640 --> 0:35:13.320
<v Speaker 1>So I wouldn't put too much confidence on this result

0:35:13.400 --> 0:35:16.080
<v Speaker 1>until I see it confirmed in follow ups. But the

0:35:16.160 --> 0:35:18.600
<v Speaker 1>study did find an effect, and it was an interesting

0:35:18.640 --> 0:35:22.000
<v Speaker 1>one one that is not exactly what I would have predicted.

0:35:22.280 --> 0:35:25.000
<v Speaker 1>Because Rob, if you had to guess in terms of

0:35:25.520 --> 0:35:28.799
<v Speaker 1>risk tolerance fluctuations during the week, what what would you

0:35:28.880 --> 0:35:32.520
<v Speaker 1>guess the day that one would take the most risks,

0:35:32.560 --> 0:35:35.680
<v Speaker 1>the most and the least. I would say most on Friday,

0:35:35.800 --> 0:35:38.560
<v Speaker 1>least on Monday. I would guess exactly the same thing.

0:35:38.600 --> 0:35:41.279
<v Speaker 1>I would think that people are most risk tolerant on

0:35:41.320 --> 0:35:44.400
<v Speaker 1>Friday and Saturday. Those are the YOLO days that's canonical,

0:35:45.000 --> 0:35:47.800
<v Speaker 1>and people would probably mean the most risk risk averse

0:35:47.840 --> 0:35:50.160
<v Speaker 1>on Mondays. You know, that's like the hunker down and

0:35:50.239 --> 0:35:54.120
<v Speaker 1>get through this day. But strangely, this is not exactly

0:35:54.120 --> 0:35:57.160
<v Speaker 1>what the researchers found that it's there's some partial overlap

0:35:57.239 --> 0:35:59.719
<v Speaker 1>with what we just guessed. So first of all, they

0:35:59.760 --> 0:36:01.880
<v Speaker 1>did not test on weekends. We don't have data on

0:36:01.920 --> 0:36:05.400
<v Speaker 1>Saturdays and Sundays. They were just testing variations between week days,

0:36:06.120 --> 0:36:08.759
<v Speaker 1>and they found that risk tolerance. People are willing to

0:36:08.800 --> 0:36:11.680
<v Speaker 1>take the most risks to inflate the balloons the most

0:36:12.200 --> 0:36:18.440
<v Speaker 1>on Fridays and Mondays. But then after Monday's risk tolerance

0:36:18.480 --> 0:36:24.000
<v Speaker 1>went down, and then it reached its lowest average on Thursdays.

0:36:24.560 --> 0:36:27.000
<v Speaker 1>So that was a hum moment for me. I don't know,

0:36:27.239 --> 0:36:29.520
<v Speaker 1>Like Thursdays, they're supposed to sort of blend in with

0:36:29.560 --> 0:36:33.640
<v Speaker 1>the other midweek days. They're very similar to Tuesdays and Wednesdays.

0:36:34.040 --> 0:36:38.000
<v Speaker 1>Why would people be the most cautious, the most averse

0:36:38.080 --> 0:36:42.239
<v Speaker 1>to taking risks on Thursdays. I mean, maybe it comes

0:36:42.280 --> 0:36:44.799
<v Speaker 1>down to just sort of the finish line view of

0:36:44.880 --> 0:36:48.279
<v Speaker 1>the calendar week, where it's like, all right on Thursday. Uh,

0:36:48.320 --> 0:36:50.400
<v Speaker 1>you know, I'm over the hump, I'm coming in towards

0:36:50.400 --> 0:36:53.000
<v Speaker 1>the finish. I I need to actually get some stuff

0:36:53.000 --> 0:36:55.080
<v Speaker 1>done today. I need to I don't need to take

0:36:55.120 --> 0:36:58.480
<v Speaker 1>a bunch of risks. Uh. Tomorrow, maybe when the finish

0:36:58.520 --> 0:37:01.560
<v Speaker 1>line is in sight, feel risk here, but today is

0:37:01.600 --> 0:37:04.640
<v Speaker 1>all business. That's just a guess. I don't know. I

0:37:04.680 --> 0:37:06.640
<v Speaker 1>think there might be something to that. I mean, we

0:37:06.640 --> 0:37:08.600
<v Speaker 1>can talk about a few options here, I guess. First

0:37:08.680 --> 0:37:12.279
<v Speaker 1>let's talk about what the authors themselves offer as as

0:37:12.320 --> 0:37:16.040
<v Speaker 1>their preferred explanation. Um So, for one thing, they hypothesize

0:37:16.040 --> 0:37:19.479
<v Speaker 1>in their introduction that if risk tolerance varies throughout the week,

0:37:19.840 --> 0:37:23.160
<v Speaker 1>it might be related to mood, since previous studies have

0:37:23.239 --> 0:37:27.040
<v Speaker 1>found that mood has an influence on decision making. And

0:37:27.560 --> 0:37:30.360
<v Speaker 1>I thought this part was also strange because the link

0:37:30.440 --> 0:37:34.040
<v Speaker 1>between mood and risk tolerance is counterintuitive to me. But

0:37:34.120 --> 0:37:38.360
<v Speaker 1>they cite multiple studies existing research showing that on average,

0:37:38.880 --> 0:37:42.320
<v Speaker 1>people are more risk tolerance it will take more risks

0:37:42.400 --> 0:37:48.520
<v Speaker 1>when experiencing certain negative moods, such as sadness. So apparently

0:37:48.560 --> 0:37:52.120
<v Speaker 1>people experiencing sadness are more likely to inflate the balloon

0:37:52.200 --> 0:37:56.160
<v Speaker 1>higher take more risks, whereas people experiencing happiness are more

0:37:56.200 --> 0:38:00.240
<v Speaker 1>likely to be cautious and risk averse. This is another

0:38:00.280 --> 0:38:02.520
<v Speaker 1>thing that's kind of the opposite of what I would

0:38:02.520 --> 0:38:05.799
<v Speaker 1>have guessed from a gut feeling, though in looking at

0:38:05.800 --> 0:38:08.359
<v Speaker 1>the research they site, I guess it sort of makes

0:38:08.400 --> 0:38:12.439
<v Speaker 1>sense maybe that like feelings of sadness or despair can

0:38:12.560 --> 0:38:15.120
<v Speaker 1>lead to a a what what do I have to lose?

0:38:15.200 --> 0:38:18.759
<v Speaker 1>Kind of thinking? Right, right, And if you're optimistic, you're like, well,

0:38:18.800 --> 0:38:21.399
<v Speaker 1>why should I be taking a risk tomorrow's Friday. Yeah,

0:38:21.680 --> 0:38:25.160
<v Speaker 1>I think this balloon. Yeah it's fine. So so that's

0:38:25.200 --> 0:38:29.400
<v Speaker 1>kind of surprising already. But anyway, this fact, uh would

0:38:29.440 --> 0:38:32.040
<v Speaker 1>partially match the results they found in the balloon game,

0:38:32.080 --> 0:38:35.200
<v Speaker 1>because okay, you assume people are generally in the worst

0:38:35.280 --> 0:38:37.520
<v Speaker 1>mood on Monday is a lot of studies have found that,

0:38:37.880 --> 0:38:40.880
<v Speaker 1>and then their mood gets gradually better throughout the week

0:38:40.920 --> 0:38:43.799
<v Speaker 1>and then gets to its highest point on Friday. This

0:38:43.840 --> 0:38:46.840
<v Speaker 1>would track with their finding that people take the most

0:38:46.960 --> 0:38:49.760
<v Speaker 1>risks on Monday's and then get more and more cautious

0:38:49.840 --> 0:38:53.560
<v Speaker 1>up to Thursday. Though then on Friday that correlation breaks

0:38:54.040 --> 0:38:57.239
<v Speaker 1>because if the same pattern held, people should actually be

0:38:57.400 --> 0:39:00.680
<v Speaker 1>the most cautious on Fridays of the lowest risk tolerance

0:39:00.719 --> 0:39:03.440
<v Speaker 1>on Friday's because that's when they're in the best mood.

0:39:03.480 --> 0:39:06.000
<v Speaker 1>But that's not what happens. Friday looks more kind of

0:39:06.000 --> 0:39:08.360
<v Speaker 1>like the Yolo day that you and I would have guessed.

0:39:08.400 --> 0:39:11.480
<v Speaker 1>It's it's on par with Mondays in terms of having

0:39:11.560 --> 0:39:15.720
<v Speaker 1>high risk tolerance. So the authors explained this by saying, quote,

0:39:16.000 --> 0:39:20.359
<v Speaker 1>the Friday recovery suggests that risk tolerance may track prospective

0:39:20.480 --> 0:39:24.719
<v Speaker 1>mood more closely than it tracts current mood. On this account,

0:39:24.960 --> 0:39:27.600
<v Speaker 1>risk tolerance is lowest on Thursday because that is when

0:39:27.640 --> 0:39:30.839
<v Speaker 1>the most rewarding part of the week is imminent. When

0:39:30.920 --> 0:39:35.680
<v Speaker 1>gain is expected, change is resisted risk aversion. When loss

0:39:35.760 --> 0:39:41.520
<v Speaker 1>is expected, change is welcomed risk tolerance. And I don't

0:39:41.520 --> 0:39:43.719
<v Speaker 1>know on this. I'm kind of halfway there on that

0:39:43.760 --> 0:39:46.040
<v Speaker 1>explanation that that makes a certain kind of sense to me.

0:39:46.120 --> 0:39:50.520
<v Speaker 1>But then again, isn't Friday already the highest mood because

0:39:50.680 --> 0:39:57.280
<v Speaker 1>of prospective analysis, Like Friday itself is prospective happiness. People

0:39:57.280 --> 0:40:00.520
<v Speaker 1>who work jobs with Monday to Friday schedules still have

0:40:00.600 --> 0:40:03.280
<v Speaker 1>to go to work on Friday, but we love Friday's

0:40:03.320 --> 0:40:07.640
<v Speaker 1>because we are thinking about the weekend being ahead of us. Yeah, yeah,

0:40:07.719 --> 0:40:09.920
<v Speaker 1>I mean, and unless it creeps even further back in

0:40:09.960 --> 0:40:13.520
<v Speaker 1>the week here, and like so basically you're, uh, you're

0:40:13.560 --> 0:40:16.480
<v Speaker 1>most optimistic on Thursday because it's about to be Friday.

0:40:17.360 --> 0:40:20.279
<v Speaker 1>And then of course when it's actually Friday, maybe there

0:40:20.280 --> 0:40:22.880
<v Speaker 1>are some realizations that, well, you know, Friday is just

0:40:22.920 --> 0:40:28.600
<v Speaker 1>another day and it's it's nothing magical about it. Maybe, Yeah,

0:40:28.600 --> 0:40:30.640
<v Speaker 1>I don't know. I think this is curious. I would

0:40:30.640 --> 0:40:33.480
<v Speaker 1>say if more people test the same thing if the

0:40:33.520 --> 0:40:36.800
<v Speaker 1>same pattern the authors found here holds up in other studies,

0:40:37.120 --> 0:40:40.759
<v Speaker 1>I would wonder if it's indicative of a multi variable input,

0:40:40.800 --> 0:40:45.640
<v Speaker 1>Like maybe improving mood explains decreasing risk tolerance throughout the week,

0:40:46.040 --> 0:40:49.759
<v Speaker 1>but then when Friday comes, some other psychological influence takes over.

0:40:49.840 --> 0:40:51.719
<v Speaker 1>I don't know what that would be, but it's sort

0:40:51.719 --> 0:40:56.600
<v Speaker 1>of overwhelms the the effective mood on risk tolerance. But

0:40:56.600 --> 0:41:00.000
<v Speaker 1>but yeah, I I don't know. Yeah, I mean it's

0:41:00.040 --> 0:41:02.680
<v Speaker 1>sometimes it's it's hard for humans to live in the moment,

0:41:03.000 --> 0:41:06.520
<v Speaker 1>Like a I think about like the ramp up to Halloween.

0:41:06.600 --> 0:41:09.839
<v Speaker 1>You spend all of October moving towards Halloween and getting

0:41:09.840 --> 0:41:13.000
<v Speaker 1>into the Halloween spirit and all. Sometimes I've found that

0:41:13.040 --> 0:41:15.799
<v Speaker 1>when it's actually Halloween, it's still a lot of fun,

0:41:15.960 --> 0:41:20.360
<v Speaker 1>but there's also the the the you know, the sadness

0:41:20.400 --> 0:41:23.719
<v Speaker 1>that Halloween is about to be over, that that there's

0:41:23.760 --> 0:41:25.399
<v Speaker 1>going to be the sharp cut off. And now it's

0:41:25.400 --> 0:41:28.160
<v Speaker 1>November and now all these other factors are in play.

0:41:28.520 --> 0:41:31.120
<v Speaker 1>I know exactly what you're talking about there. With two

0:41:31.160 --> 0:41:34.600
<v Speaker 1>October files here, I feel like I get the most

0:41:34.640 --> 0:41:37.800
<v Speaker 1>pleasure in like the first two weeks of October. Yeah,

0:41:37.880 --> 0:41:40.239
<v Speaker 1>because then it's like there's so much October still ahead

0:41:40.280 --> 0:41:42.759
<v Speaker 1>of us. Yeah. But and then again, I don't know

0:41:42.800 --> 0:41:46.479
<v Speaker 1>if this really this can really relate to the week

0:41:46.520 --> 0:41:49.440
<v Speaker 1>by week experience, But yeah, I don't know. Now, another

0:41:49.480 --> 0:41:52.680
<v Speaker 1>interesting thing that goes along with this, I was reading

0:41:52.760 --> 0:41:55.680
<v Speaker 1>a short article by one of the authors of this study,

0:41:55.960 --> 0:41:59.799
<v Speaker 1>uh Rob Jenkins, and he also said that the same

0:42:00.000 --> 0:42:05.319
<v Speaker 1>pattern was born out in analyzes of historical chess games.

0:42:05.360 --> 0:42:09.680
<v Speaker 1>That they they had done an analysis of big archives

0:42:09.680 --> 0:42:13.399
<v Speaker 1>of chess games and try to quantify risky moves within

0:42:13.440 --> 0:42:15.719
<v Speaker 1>those games and then correlate that with what day of

0:42:15.760 --> 0:42:18.000
<v Speaker 1>the week the games took place on, and they found

0:42:18.000 --> 0:42:21.120
<v Speaker 1>they say, they found the same thing that uh moves

0:42:21.160 --> 0:42:25.480
<v Speaker 1>got uh more and more cautious on the on the

0:42:25.520 --> 0:42:28.719
<v Speaker 1>trend from Monday to Thursday, so you know, riskier moves

0:42:28.719 --> 0:42:32.120
<v Speaker 1>on Monday, and then Thursday very conservative playing, and then

0:42:32.160 --> 0:42:35.480
<v Speaker 1>Friday suddenly risky moves again. So that was not a

0:42:35.480 --> 0:42:38.120
<v Speaker 1>part of this paper. That was just something i'd read

0:42:38.120 --> 0:42:41.200
<v Speaker 1>the author talking about. But within this same paper, the

0:42:41.239 --> 0:42:44.440
<v Speaker 1>authors also looked at how days of the week correlated

0:42:44.480 --> 0:42:48.200
<v Speaker 1>with the voting preferences as expressed in opinion polls on

0:42:48.239 --> 0:42:51.440
<v Speaker 1>a couple of big issues in UM in UK politics

0:42:51.440 --> 0:42:55.560
<v Speaker 1>in recent years Scottish independence and bregsit And from the moment,

0:42:55.600 --> 0:42:57.400
<v Speaker 1>I think I'm not going to focus on that because

0:42:57.640 --> 0:43:00.520
<v Speaker 1>I feel like those kinds of issues have they're so

0:43:00.719 --> 0:43:03.800
<v Speaker 1>noisy with real world data and so full of variables

0:43:03.800 --> 0:43:06.640
<v Speaker 1>that are hard to control for uh. And of course

0:43:06.640 --> 0:43:08.719
<v Speaker 1>the authors are aware of this, they make note of it,

0:43:08.760 --> 0:43:12.000
<v Speaker 1>but I feel like that that may be harder to

0:43:12.120 --> 0:43:14.560
<v Speaker 1>fix on day of the week effects and and things

0:43:14.640 --> 0:43:17.359
<v Speaker 1>like risk aversion, because especially when you're looking at something

0:43:17.400 --> 0:43:21.680
<v Speaker 1>like a big contentious political issue, like a huge part

0:43:21.719 --> 0:43:25.520
<v Speaker 1>of political rhetoric is specifically aimed at manipulating how people

0:43:25.680 --> 0:43:29.359
<v Speaker 1>frame political and voting choices in terms of risks. So

0:43:29.840 --> 0:43:32.680
<v Speaker 1>it's hard to pick one side of a political issue

0:43:32.719 --> 0:43:34.799
<v Speaker 1>and say, well, this is the one that's the more

0:43:34.960 --> 0:43:37.279
<v Speaker 1>risk averse option and the other one is the one

0:43:37.320 --> 0:43:40.000
<v Speaker 1>that's more risk tolerant, because there may be lots of

0:43:40.000 --> 0:43:42.960
<v Speaker 1>cases where voters on opposite sides of an issue in

0:43:43.120 --> 0:43:46.200
<v Speaker 1>roughly equal proportions both believe their side to be the

0:43:46.280 --> 0:43:49.440
<v Speaker 1>less risky one. Yeah, it's gonna debend on on what

0:43:49.560 --> 0:43:53.880
<v Speaker 1>sort of media you're consuming. One side is going to

0:43:53.960 --> 0:43:56.400
<v Speaker 1>frame this is the obviously the risky choice, and that

0:43:56.560 --> 0:43:58.480
<v Speaker 1>side's gonna say no, this is the this is the

0:43:58.600 --> 0:44:02.360
<v Speaker 1>risk adverse. Wise, though, they point out something interesting that

0:44:02.440 --> 0:44:05.319
<v Speaker 1>does rely on a couple of conditionals. So if if

0:44:05.320 --> 0:44:07.520
<v Speaker 1>they're finding is indeed true, if it is borne out

0:44:07.560 --> 0:44:10.760
<v Speaker 1>that people's risk tolerance on average fluctuates throughout the week,

0:44:11.440 --> 0:44:14.239
<v Speaker 1>and if it's true that there are consistent patterns that

0:44:14.280 --> 0:44:18.200
<v Speaker 1>show up in populations, such as Thursday being consistently the

0:44:18.239 --> 0:44:22.160
<v Speaker 1>most cautious day, the most risk averse day, then what

0:44:22.280 --> 0:44:25.720
<v Speaker 1>day you hold elections or referenda on could actually affect

0:44:25.760 --> 0:44:28.799
<v Speaker 1>the outcome, which I think is interesting. But another thing

0:44:28.800 --> 0:44:30.600
<v Speaker 1>I was thinking about in the light of these assessments

0:44:30.600 --> 0:44:32.960
<v Speaker 1>of risk aversion is coming back to your idea of

0:44:33.840 --> 0:44:37.120
<v Speaker 1>the effective week days being an effect of cumulative fatigue.

0:44:37.560 --> 0:44:39.560
<v Speaker 1>I mean, I wonder how that would play into risk

0:44:39.640 --> 0:44:43.279
<v Speaker 1>tolerance as expressed throughout the week. Does like, okay, could

0:44:43.280 --> 0:44:47.560
<v Speaker 1>it be that being progressively more tired as you go

0:44:47.760 --> 0:44:51.000
<v Speaker 1>through the week and getting to Thursday, you've you've most

0:44:51.080 --> 0:44:53.080
<v Speaker 1>likely had the most nights in a row where you

0:44:53.080 --> 0:44:55.319
<v Speaker 1>didn't get as much sleep as you wanted, where you

0:44:55.360 --> 0:44:57.600
<v Speaker 1>were trying to pack things in and get through the

0:44:57.680 --> 0:45:01.400
<v Speaker 1>days that came before. Could that some how express itself

0:45:01.440 --> 0:45:03.440
<v Speaker 1>in terms of what kind of risks you're willing to

0:45:03.480 --> 0:45:06.200
<v Speaker 1>take by Thursday? And then maybe some kind of mood

0:45:06.200 --> 0:45:10.359
<v Speaker 1>effect takes over on Friday that overwhelms that fatigue. Right,

0:45:10.440 --> 0:45:14.920
<v Speaker 1>And then likewise, if, if, if you're more prone to

0:45:14.960 --> 0:45:17.680
<v Speaker 1>lose sleep over the weekend, would you have have this

0:45:17.719 --> 0:45:21.560
<v Speaker 1>sort of scenario playing out, you know, moving into Monday

0:45:21.600 --> 0:45:23.080
<v Speaker 1>where yeah, you didn't you didn't get a lot of

0:45:23.080 --> 0:45:26.319
<v Speaker 1>sleep last night and the night before, uh, and here

0:45:26.320 --> 0:45:29.080
<v Speaker 1>you are catching up. Another question I have is I

0:45:29.120 --> 0:45:34.160
<v Speaker 1>wonder about interactions between between risk aversion as expressed over

0:45:34.239 --> 0:45:37.800
<v Speaker 1>different days of the week and our feeling of freedom

0:45:37.920 --> 0:45:40.799
<v Speaker 1>about what we get to do on on each day

0:45:40.800 --> 0:45:43.840
<v Speaker 1>of the week. So, like, how is your risk aversion

0:45:44.040 --> 0:45:47.600
<v Speaker 1>affected by it being a day where that is full

0:45:47.600 --> 0:45:49.640
<v Speaker 1>of tasks that are not really up to you you

0:45:49.719 --> 0:45:52.560
<v Speaker 1>just have to do them, versus on a day where

0:45:52.600 --> 0:45:55.640
<v Speaker 1>you can do whatever you want. Yeah? Yeah, I mean

0:45:55.680 --> 0:45:58.200
<v Speaker 1>I could imagine a scenario in which, yeah, you haven't

0:45:58.400 --> 0:46:00.400
<v Speaker 1>really had much in the way of cho voice, So

0:46:00.560 --> 0:46:03.160
<v Speaker 1>now I have the choice to take a risk. Well,

0:46:03.160 --> 0:46:05.040
<v Speaker 1>maybe I'm gonna take it. I don't know, it kind

0:46:05.040 --> 0:46:07.239
<v Speaker 1>of comes back to the what we're talking about though,

0:46:07.360 --> 0:46:09.840
<v Speaker 1>is that there's seems like there's a fair amount of

0:46:09.880 --> 0:46:12.719
<v Speaker 1>noise in any of these considerations, and and so much

0:46:12.800 --> 0:46:16.680
<v Speaker 1>just room for subjective interpretation. You know, it's just gonna

0:46:16.920 --> 0:46:21.440
<v Speaker 1>vary so much depending on what an individual's life structure

0:46:21.480 --> 0:46:24.000
<v Speaker 1>happens to be. Right, So if the pattern holds up,

0:46:24.000 --> 0:46:26.640
<v Speaker 1>I do think that's really interesting with this Thursday thing,

0:46:26.800 --> 0:46:31.320
<v Speaker 1>but I'm not convinced of any particular explanation yet. Yeah,

0:46:31.440 --> 0:46:33.160
<v Speaker 1>but this does just make me want to, like, I

0:46:33.160 --> 0:46:36.239
<v Speaker 1>don't know, do Bart tests on myself, will, you know,

0:46:37.000 --> 0:46:39.239
<v Speaker 1>all the time figure out what's what's going on in

0:46:39.239 --> 0:46:41.759
<v Speaker 1>my brain? I guess it's hard to. I don't know.

0:46:41.880 --> 0:46:44.640
<v Speaker 1>I guess knowing what I'm testing for would affect the outcome,

0:46:44.680 --> 0:46:46.640
<v Speaker 1>So I can't really do that, but I want to

0:46:46.640 --> 0:46:50.200
<v Speaker 1>Bart myself. Well, there's gotta be a good pen and

0:46:50.239 --> 0:46:53.120
<v Speaker 1>paper kind of Bart scenario you can use. Well, I'd

0:46:53.120 --> 0:46:55.680
<v Speaker 1>still know that I was taking the test, and I couldn't, like,

0:46:55.960 --> 0:46:58.879
<v Speaker 1>you know, do it blinded. But yeah, in any case,

0:46:58.920 --> 0:47:01.839
<v Speaker 1>I do hope the risk tolerance researchers use BART as

0:47:01.880 --> 0:47:04.360
<v Speaker 1>a verb. But the way we have been doing I

0:47:04.480 --> 0:47:08.759
<v Speaker 1>barted I barted twenty five participants today. You know, I

0:47:08.760 --> 0:47:11.920
<v Speaker 1>haven't had a chance to really research this, but it

0:47:11.960 --> 0:47:15.720
<v Speaker 1>looks like there there are a few um balloon analog

0:47:15.800 --> 0:47:19.239
<v Speaker 1>risk task tests BART tests that you can find online.

0:47:19.640 --> 0:47:21.400
<v Speaker 1>Uh though, I will warn you that the one I

0:47:21.440 --> 0:47:23.880
<v Speaker 1>clicked on it had some really loud sound effects. I

0:47:23.880 --> 0:47:27.799
<v Speaker 1>don't know that we really need alloud air hissing sound

0:47:27.800 --> 0:47:30.200
<v Speaker 1>effect every time I pump up the money balloon, so

0:47:30.320 --> 0:47:35.200
<v Speaker 1>it only works if it's deafening pops, pops and pumps. Okay,

0:47:35.200 --> 0:47:37.000
<v Speaker 1>I think maybe we got to call this episode here

0:47:37.000 --> 0:47:40.359
<v Speaker 1>and then come back later this week. That's right, we'll

0:47:40.360 --> 0:47:43.279
<v Speaker 1>have more to discuss about the seven day week. We'll

0:47:43.280 --> 0:47:46.120
<v Speaker 1>get into some more and probably some expected territory concerning

0:47:46.120 --> 0:47:51.520
<v Speaker 1>more historical data. Will probably get into some unexpected areas

0:47:51.560 --> 0:47:54.959
<v Speaker 1>as well concerning the seven day week period. Obviously, we'd

0:47:54.960 --> 0:47:57.760
<v Speaker 1>love to hear from everyone. In the meantime, we've already

0:47:57.800 --> 0:48:00.360
<v Speaker 1>been hearing from a number of people about does these aisodes,

0:48:00.440 --> 0:48:04.239
<v Speaker 1>so keep it coming. Will remind you that our core

0:48:04.280 --> 0:48:06.120
<v Speaker 1>episodes of Stuff to Blow Your Mind published on two

0:48:06.160 --> 0:48:10.160
<v Speaker 1>season Thursdays. Monday. We do listener mail. Wednesday is a

0:48:10.200 --> 0:48:13.399
<v Speaker 1>short form Artifact episode and on Friday, that's our time

0:48:13.440 --> 0:48:15.399
<v Speaker 1>to do weird House Cinema, where we set aside most

0:48:15.400 --> 0:48:18.280
<v Speaker 1>serious concerns and just focus on a strange film. Huge

0:48:18.320 --> 0:48:21.840
<v Speaker 1>thanks as always to our excellent audio producer Seth Nicholas Johnson.

0:48:22.200 --> 0:48:23.839
<v Speaker 1>If you would love to get in touch with us

0:48:23.840 --> 0:48:26.320
<v Speaker 1>with feedback on this episode or any other, to suggest

0:48:26.440 --> 0:48:28.520
<v Speaker 1>topic for the future, just to say hello, you can

0:48:28.560 --> 0:48:31.320
<v Speaker 1>email us at contact at stuff to Blow your Mind

0:48:31.480 --> 0:48:41.319
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0:48:41.360 --> 0:48:44.000
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