Tag Archives: decision making

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

Posted in Behavioural economics, Economics, Psychology | Tagged | Leave a comment

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

Posted in Behavioural economics, Cognitive biases and fallacies, Psychology | Tagged | Leave a comment

Surreal choices

When decisions look bizarre, it may be because they involve unfeasible trade-offs Belgium is often associated with surrealism, not just thanks to renowned surrealist painter René Magritte was Belgian, but also because of its somewhat idiosyncratic politics. With six governments, … Continue reading

Posted in Behavioural economics, Economics, politics | Tagged , , | Leave a comment

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

Posted in Behavioural economics, Cognitive biases and fallacies, Emotions, Psychology | Tagged | Leave a comment

Your own personal dogma

(featured image credit: Thomas Hawk) Much of what we do, we don’t really question. That is a mixed blessing Last Friday evening I was driving back home on the M20 towards London. In the distance I could see a small white … Continue reading

Posted in Behavioural economics, Cognitive biases and fallacies, Psychology | Tagged , | Leave a comment

Good processes and bad outcomes

(featured image credit: credit: Kurt Komoda) Even good processes can lead to tragedies – we should not let hindsight bias make us believe otherwise When you think about it, your personal life is actually quite complex. You’re faced with a huge … Continue reading

Posted in Behavioural economics, Cognitive biases and fallacies, Psychology, Society | Tagged , , | Leave a comment

Personal framing

(featured image credit: H. Uechi) We have more power over how we make choices and how we feel than we may realize Imagine you are an oncologist, and you discuss a course of action with a lung cancer patient. There … Continue reading

Posted in Behavioural economics, Cognitive biases and fallacies, Economics, Emotions, Psychology | Tagged , | Leave a comment