I usually give a lot of examples of seeing loss aversion bias in real life, from rickshaw-wallahs in Indian cities to amateur investors, but none from the world that I come from.
Ever felt confused or uncomfortable when you hold two conflicting views, like, let’s say, “I love coffee!” and “Coffee will eventually kill you!” (this is absolutely a…
Post-rationalization, as you would have smartly guessed it, is making up the reasons or narratives post-facto. Here’s an example of you post-rationalizing:
Book Review
Daniel Kahneman, alongwith his late partner, Amos Taversky is considered amongst the pioneers of the field of Behavioral Economics. Kahneman and Taversky discovered some of the earliest known…
I was standing on the pavement the other day having a smoke. Short while later, a woman passes me by, and as she came close, she covered her nose and mouth with her scarf — to protect herself from the cigarette smoke. But what I found funny was that on the road, not two feet away were cars, bikes…
Last year I got into an argument with a Pune Municipal Transport’s (PMT)bus conductor. I had forgotten my phone in the bus and realized it only when I was half way from the town center and the factory I was consulting at…
Have a look at this wonderfully creative video on the 6 shortcuts to persuading others.
The original link to the video is here.
Have you never drank a cold drink (whichever is your favorite), had a chocolate or an ice cream when you were sad?
When I first thought of this, my initial thoughts were no. I zipped past my memories in recent years and saw myself…
Here’s a WIRED.com article by Jonah Lehrer that is interesting.
Click to read…
Imagine that you and I were playing a game. A game where, I had to give you hundred bucks if the coin you toss landed tails and where you had to give me a hundred if it landed heads. You start tossing the coin, and land heads five times in a row. You are five hundred…