Tag Archives: decision making

A voter’s burden

(featured image: carnagenyc) Voting, like so many things in life, is about the difficult task of weighing up many, often conflicting options. Maybe a (behavioural) economics perspective can help cut through it? On 18 April, Prime Minister Theresa May called a … Continue reading

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Identity on the scales

(credit for featured image: jackmac34/pixabay) How the groups with which we identify influence how we make our own trade-offs (and not always for the better) All else being equal, when faced with two choices, a rational, self-interested person making a … Continue reading

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Wisdom or certainty?

(featured image credit: PeterKraayvanger/pixabay) Both wisdom and certainty are valuable, but if you have one, you can’t have the other Whenever we decide to spend money on something, we are doing what economists call allocating a scarce resource one way rather … Continue reading

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Theresa’s choice

(featured image credit: Philippe Theriault/Flickr) The behavioural economics of choosing between hard and soft Brexit Making decisions is not always easy. One reason it is difficult is that trading off two possible choices often means we need to compare apples … Continue reading

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Trading off for a better choice

Main image credit: Da Sal/Flickr If we don’t know what we gain and what we sacrifice, how good are our choices? It’s not clear how many believers there still are in the homo economicus, the rationally self-interested being who constantly calculates … Continue reading

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Ethics are not for sale

Don’t use the economic way of thinking for justifying the death penalty What do a car manufacturer, a group of hungry friends, the National Institute for Health and Care Excellence, the Group Director Safety, Technical and Engineering of the UK’s … Continue reading

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The patterns of your mind

We can’t resist seeing significance, causality and agency where there is none Brussels, Monday 22 May 1967: a spring day marred by a chilly drizzle. Two days ago, my best friend had got a new pair of shoes, but there … Continue reading

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