Episode 12 - Claudia Hammond, presenter of BBC Radio 4's 'All in the Mind', on the psychology of money

POW: The Psychology of Work

This episode of POW, the Psychology of Work podcast, features an interview with Claudia Hammond, an award-winning broadcaster, writer and academic psychologist, conducted after her keynote at the 2019 ABP Conference. Hammond is the presenter of All in the Mind, Case Study & Mind Changers on BBC Radio 4 and the weekly Health Check on BBC World Service Radio & BBC World News TV. She has appeared often on TV discussing psychological research, and is on the part-time faculty at Boston University's London base where she lectures in health and social psychology, as well as being a Visiting Professor at the University of Sussex.
Claudia Hammond is also the author of "Mind over Money: the psychology of money and how to use it better","Time Warped: Unlocking the Mysteries of Time Perception", "Emotional Rollercoaster: a journey through the science of feelings", and her latest book "The Art of Rest".
In this episode she discusses the psychology of money, and explains some of the limitations of financial incentives and bonuses in business, such as: why you should never pay friends for doing you a favour (give presents instead); the pros and cons of salary transparency; how you can charge people more to eat at a restaurant called Studio 97 than one called Studio 17; and why keeping money in you current account makes sense psychologically, if not economically.