Monthly Archives: July 2017

What is your reputation worth?

Posted on July 28, 2017 by koenfucius

(featured image credit: Evanherk/Wikimedia) We are very protective of how others see us. How protective, and why? Imagine you said something that you never intended to be or sound racist, but that could easily be interpreted to be blatantly so. You … Continue reading →

Posted in Behavioural economics, Emotions, Ethics, Morality | Tagged | Leave a comment

Make it hard

Posted on July 21, 2017 by koenfucius

(featured image credit: Skitterphoto) Nudging is about ‘making it easy’, but sometimes difficult can be better We are very much creatures of habit. Unlike what neoclassical economists would have us believe, most of us are also generally not utility maximizers, … Continue reading →

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Belief without value

Posted on July 14, 2017 by koenfucius

Our beliefs often stand in the way of better decisions – because we value them too much The great economist John Maynard Keynes reportedly once said, ‘When my information changes, I alter my conclusions. What do you do, Sir?’ As … Continue reading →

Posted in Behavioural economics, Cognitive biases and fallacies, Emotions, politics | Tagged | 1 Comment

Fairness or efficiency?

Posted on July 7, 2017 by koenfucius

(featured image: NeuPaddy) Yet another instance of the tension between our emotions and economic logic Imagine a clothing retailer who charges more for an item in a larger size than for an almost identical one in a more mainstream size. While … Continue reading →

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