Category Archives: Psychology

More fun with percentages

(featured image credit: geralt/Pixabay) Absolute numbers generally give little insight to anything, but even percentages, averages and ratios must sometimes be treated with caution Earlier this week, the British advertising regulator ASA banned an Amazon advert that promised one-day delivery … Continue reading

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Bending your mind

(featured image credit: Emilio Garcia CC BY) Our beliefs are not always as solid and stable as we tend to, well, believe they are…. Our view of the world is shaped significantly by our beliefs. We believe that this, that … Continue reading

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Value, imagined

(featured image: credit: Ali Eminov CC BY) Is the value of stuff we buy, from grapefruit to airline seats, in the mind of the beholder? Magic doesn’t really exist, but in a way, economics comes close. Contrary to what common wisdom … Continue reading

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The incredible flipping preference

What we truly prefer is sometimes not what we choose There is a new coffee place in town. Monday last week temptation got the better of me and I decided to try it out. The Americano was rather pricey at … Continue reading

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What’s new(s)?

(featured image credit: Martin Krolikowski CC BY) The priorities of the items in the news hint at an important factor in our economic decision-making   In the past week, three themes have been dominating the news headlines in the UK: … Continue reading

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The fallacy that became itself a fallacy

(featured image credit LearningLark CC BY) Even specialists can fall prey to cognitive errors I have been tossing a fair coin, and it has come up heads six times in a row. The chance of either heads or tails is 1 … Continue reading

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How to stop acting as if more is better

(featured image credit: drinks machine CC BY) Quality matters, we often say, but when we’re not paying attention, quantity tends to sneak in and get the upper hand Imagine that £2 buys you one of two options: either a nice … Continue reading

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