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Category Archives: Cognitive biases and fallacies
Suspicious minds
Featured photo: Pixabay People can be too sceptical, and irrationally turn down offers that are genuine. Or might that not be as irrational as it seems? Imagine a mad billionaire makes you the following offer: he will pay you an … Continue reading
Posted in Economics, Behavioural economics, Emotions, Cognitive biases and fallacies, Psychology
Tagged decision making
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Thinking fast and wrong
featured image by Julian Mason/Flickr CC BY 2.0 Thinking fast, contrary to what we are sometimes led to believe, is a largely adaptive trait that serves us well. When it is not, and leads us up the garden path, it … Continue reading
Posted in Behavioural economics, Cognitive biases and fallacies, Emotions, Psychology
Tagged decision making
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Bans and obligations: a last resort?
(featured image collage with work by LtapsaH/Pixabay) The law can be an important, but often overlooked, factor in our day-to-day choices. But how effective are legal bans and obligations really? A decision whether or not to do something is almost … Continue reading
Beyond value for money: lessons from a broken-down car
(Featured image: cottonbro studio/pexels) Economic transactions like purchases are often treated as exchanges: you pay someone money and get goods or services in return. But is the only thing that matters that the benefit outweighs the cost – that you … Continue reading
A craving for certainty
(featured photo: Bill Reynolds/Flickr CC BY 2.0 Even if we know we cannot avoid uncertainty, we continue to pursue certainty. Retirement planning. It’s one of the classic topics in behavioural economics: most people realize they should be saving (more) for … Continue reading
Posted in Behavioural economics, Cognitive biases and fallacies, Economics, Emotions, Psychology
Tagged decision making, regret
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The amoral universe
(featured image: Hubble ESA/Flickr CC BY 2.0) Is morality, literally, just a figment of our imagination? Every parent will, sooner or later, experience clashes between their beliefs, and those of their children. The first such clash in my life happened … Continue reading
Posted in Behavioural economics, Cognitive biases and fallacies, Emotions, Morality, Psychology
Tagged Decision-making
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Don’t confuse the facts with the truth
(featured image via DALL-E 3) We should be careful not to take our interpretation of the facts as the objective, unequivocal truth. A good 20 years ago, Frédéric Brochet, then a PhD student oenology (the study of wine), was cataloguing … Continue reading
Posted in Behavioural economics, Cognitive biases and fallacies, Psychology
Tagged Decision-making
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Right things
What is right for me is not necessarily right for thee – an everyday story of moral dilemmas One of my guilty pleasures – well, one that I am happy to share with the world – is that I am … Continue reading
Posted in Behavioural economics, Cognitive biases and fallacies, Emotions, Ethics, Morality, Psychology
Tagged decision making
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Factual misinformation
(featured image via Dall-E 3) We can be misled by false information, but we can also be misled by information that is the 100% unadulterated truth. And we ourselves are doing the misleading… These days, there is a lot of … Continue reading
Posted in Behavioural economics, Cognitive biases and fallacies, Psychology
Tagged Decision-making
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The asymmetry of importance
(featured image: <Bus stop.jpg> made with Dall-E). We tend to assume that in interactions with others, their view of the importance of the interaction matches ours. That assumption may be wrong, and can be problematic “No man is an island, … Continue reading
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