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Monthly Archives: March 2017
The Big Yellow Taxi Fallacy
(featured image: FHG Photo cc2.0) Could there be such a thing as the sunk benefit fallacy alongside the sunk cost one? Wednesday 29 March 2017 was a day of celebration for some, and a day of deep sadness for others. … Continue reading
Uber and the four trade-offs of disruption
(featured image adapted from winnifredxoxo cc 2.0) The effects of disruptive innovation are more multifarious than they may seem at first sight On Wednesday evening 23 March, a few hours after the Westminster terrorist attack, a friend of mine wanted … Continue reading
Keeping behavioural science on the straight and narrow
As we see behavioural science being applied all around us, we are left with more questions than answers Behavioural science has well and truly left obscurity and entered the mainstream. Governments – if they haven’t already done so – are … Continue reading
Posted in Behavioural economics, Cognitive biases and fallacies, Ethics
Tagged policy-making, Regulation
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Nudging people on the escalator
(featured image: Gabriel Jorby) How to make people stand still to go faster My very first visit to London left such a big impression on me that I can still recall it decades later. By far the most evocative memories are … Continue reading
The largest anchor ever
(Featured image: clmper) How do we know what is a reasonable amount of money to pay? How much would a rational person be prepared to pay for, say, a cauliflower? They’d go down the ranking of all possible purchases, and for … Continue reading
Posted in Behavioural economics, Cognitive biases and fallacies, Economics
Tagged Anchoring, Brexit, negotiation
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