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Monthly Archives: May 2020
The consequences of loyalty
When rules and consequences clash, we had better weigh up carefully what matters most When a pandemic is wreaking havoc, and many hundreds of people are killed by a virus every day, it is important that the population as a … Continue reading
Posted in Behavioural economics, Ethics, Morality, Philosophy, Psychology, Society
Tagged decision making
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Is that a lot, or is that a little?
(credit: duncan c/Flickr CC BY) The answer to the question is often far from clear-cut, and we may be easily misled – by others and by ourselves Imagine you have ended up in a foreign country that you have never … Continue reading
Posted in Behavioural economics, Economics, Psychology
Tagged decision making, Framing
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Prices without markets
(featured image credit: Corinne Brown/Flickr CC BY) Do prices reflect value – and if they don’t, should they? Cynics, Oscar Wilde said, know the price of everything, and the value of nothing. That’s as may be, but do you know … Continue reading
Posted in Behavioural economics, Economics, Psychology
Tagged paradox of value, Value, willingness to accept, willingness to pay
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Similar, but very different
(credit: 272447 /Pixabay) We sometimes treat similar risks very differently, and that affects how we make decisions Fear of flying is not likely to be something bothering many people any time soon. The latest IATA figures show that, after a … Continue reading
Posted in Behavioural economics, Economics, politics, Society
Tagged decision making, risk management
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What (we think) others think about us
(featured image credit: Nathan Rupert CC BY) Our concern about the way we believe others see us is not necessarily all that helpful “Does my bum look big in this?” Lovers of British comedy may recall this catchphrase from The … Continue reading
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