Category Archives: Behavioural economics

The immaterial economy

(featured image credit: torstensimon) The peculiarly human nature of economics On Wednesday 10 January Philip Hammond, the UK’s chancellor of the exchequer, and his cabinet colleague David Davis, the secretary for Exiting the EU, flew to Germany. The aim of their … Continue reading

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Someone else’s shoes

(featured image: Three-shots) Metaphorically wearing other people’s shoes can help us understand them better… but what if they don’t fit? “Before you criticize someone, you should walk a mile in their shoes. That way when you criticize them, you are … Continue reading

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The intriguing psychology of gift economics

(featured image credit: stux/geralt/artsybee) What does viewing the giving of gifts as economic transactions reveal about what we really value? It’s two days before Christmas. You’re frantically looking for a gift for the one person you completely forgot. What is … Continue reading

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Democracy’s feet of clay

Do people make good choices when they vote? *Can* they? How come most of us, most of the time, don’t do crazy things? We make hundreds of decisions every day – lots of small ones, and once in a while … Continue reading

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When loss aversion is your loss

(credit: Jim Culp) What are we really giving up when we are being led by extreme loss aversion? An old friend of mine took up an unusual hobby at a relatively advanced age (well he was younger then than I … Continue reading

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The compartments of your (financial) mind

(credit: Like_the_Grand_Canyon) We are all mental accountants, for better and for worse   You probably have them too in your purse or your wallet: a stack of store loyalty cards. Every time you pass a till, you habitually hand over … Continue reading

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Choices in the rear view mirror

(featured image credit: Fred Langridge) A bad experience may look very different when it’s behind you. How bizarre! Imagine a multi-day public transport strike is called for next week. You can’t take time off, or work from home, and it’ll totally … Continue reading

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