Category Archives: Cognitive biases and fallacies

Important futilities

Sometimes what we do seems to be unduly influenced by what appears to be utterly futile. Is that as unwise as it seems? Last Saturday was Luka’s 6th birthday. We had some balloons to decorate the house, and for just … Continue reading

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The relativity of mysterious overconfidence

(featured image: kues1/Freepik) Both doubt and confidence have benefits, but is there anything worthwhile in overconfidence? It is the season of party conferences in Britain. Over the years I have lived here, my attitude towards them has evolved from interest … Continue reading

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Real prices can be about more than supply and demand

(featured image via Twitter) How to turn an unfair price rise into a fair one This last week, the UK has been experiencing a freak petrol* crisis. A handful of filling stations on the south coast had run out of … Continue reading

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Buyer and seller – one market price, two perspectives

(featured image: abby_mix07/Flickr CC BY NC SA 2.0) Markets enable prices to reach a level that satisfies both sellers and buyers, but that doesn’t necessarily mean that they see that price in the same way Do you know what a … Continue reading

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We can fabricate data, but we cannot fabricate the truth

(Featured image: Matt Lemmon/Flickr CC BY SA 2.0) When a renowned behavioural scientist gets embroiled in a case of fabricated data, there may be some lessons for us all When a behavioural science paper is discovered to have been using … Continue reading

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An accidental behavioural economist is on holiday – again

Human behaviour continues to be an inexhaustible source of wonder and fascination – even when on holiday Unexpectedly, your correspondent had an opportunity to return to his native country at short notice for a brief holiday after skipping the annual … Continue reading

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The asymmetrical price of friendship

(featured image: geralt via Pixabay) If you buy something from a friend, you might ask them for a discount – but if you are selling them something, would you ask them for a higher price? Humans are social animals. Our … Continue reading

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The problem with football

(featured image credit: J Brandt/Flickr) Football (or soccer), for many, produces such a powerful imagery and symbolism that we cannot help seeing it as a representation for bigger things – and that is what it is, warts and all Let … Continue reading

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Priors and prejudice

(featured image: Nicole Köhler/Pixabay) How open is our mind, really? A few days ago, a prominent economist posted a table on Twitter. In itself this was not a particularly remarkable event, were it not for the fact that it showed … Continue reading

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Naturally

(featured image: Department for Transport/Flickr CC-BY-ND 2.0) Is there a “natural” state of things that is inherently superior? You’re happily driving along on the motorway. It is quite busy for a Tuesday afternoon, and there is a slight drizzle. Suddenly, … Continue reading

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