Relativity
All things are relative. In Predictably Irrational and in his TED talk, Dan Ariely shows that it’s true for human attractiveness, and it’s true for price. For attractiveness, you should watch the...
View ArticleWeighing Price Anchors
I noticed a curious thing yesterday. A digital subscription to WIRED for Ipad costs $19.95 per year. A one-year subscription to the print magazine is $12 and includes the digital version free. How on...
View ArticleApplying Prospect Theory Logic to Other Psychological Phenomena
Daniel Kahneman is psychologist who received the Nobel Prize for economics in 2002 for his co-development with Amos Tversky of prospect theory. The theory suggests that under risk, rather than making a...
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