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Tag Archives: decision making
The limits of transactional thinking
Featured image: mh.xbhd.org/Flickr CC BY 2.0 Customers who treat their relationships with their suppliers of the goods and services as limited to the individual transaction may overlook something that is of much more value than they realize Markets are instrumental … Continue reading
Posted in Behavioural economics, Economics, Management, Psychology
Tagged decision making
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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
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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Overwhelmed by wide horizons
Featured image Martin Heigan/Flickr CC BY NC ND 2.0 Thanks to technology, we have access to stuff beyond our wildest imaginations, but that can also make our life more difficult. How can we best handle these super wide horizons? In … Continue reading
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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Transparent or opaque?
(featured image via Dall-E 3) Transparency, especially related to people’s incomes, may not be as desirable as we think Relativity is widely associated with Albert Einstein (even though many people have, at best, only a vague idea of what the … Continue reading
Posted in Economics, Behavioural economics, Emotions, Ethics, Organization Development, Psychology
Tagged decision making
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Are agriculture and nature poles apart?
The trickiest of decisions are those where either/or is out of the question. The farmers’ protests in Belgium have been continuing unabated this past week, though an agreement was reached this morning. One of their grievances is their feeling that … Continue reading
Posted in Behavioural economics, Economics, Emotions, politics, Psychology, Society
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