Tag Archives: preferences

Where is the value?

Posted on March 26, 2021 by koenfucius

(featured image: Wikimedia Commons/Public Domain Value, and in particular differential value, determines much of our behaviour. But it’s a slippery, ethereal concept A long time ago, when travel was still possible and people still went on holiday, every morning I … Continue reading →

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Less conflict

Posted on January 1, 2021 by koenfucius

(Featured image: Yaffa Phillips) Much of the niggling conflict that we encounter day in, day out, is of our own making: it is in our minds. What if we could tone it down a bit? Here is my New Year’s … Continue reading →

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Puzzling preferences

Posted on July 3, 2020 by koenfucius

(featured image credit: A.H.M CC BY) Are our preferences fixed, or can we change them at will? Would you prefer a holiday for the advertised price, or the very same one for 25% less? Would you prefer spending half an … Continue reading →

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Like shifting sands

Posted on March 20, 2020 by koenfucius

(featured image credit: Weekend wayfarers CC BY) Our preferences are neither fixed, nor absolute – and that is a good thing, in times of crisis Some people prefer fried tomatoes to steamed broccoli, while for others it is the opposite. … Continue reading →

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Who you (think you) are shapes what you think

Posted on March 15, 2019 by koenfucius

(featured image credit: Settergren) We have multiple identities, and see the world accordingly Say you spent your youth in Scotland, but have been living in London for over 20 years. Are you a Scots person living in London, or a … Continue reading →

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How economics can help us understand people better

Posted on February 1, 2019 by koenfucius

When we think that the behaviour of others is baffling or if it seems utterly wrong to us, economics can help us take a different perspective You may not realize it, but every time you are placing your purchases on … Continue reading →

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How effective is your altruism?

Posted on August 31, 2018 by koenfucius

(featured image credit: Yukiko Matsuoka CC/BY) We cannot escape profound, inevitable trade-offs when it comes to how we use our resources – including when we give them away.  Next time you pay for your groceries at the supermarket, have a look … Continue reading →

Posted in Behavioural economics, Economics, Ethics, Morality, Philosophy, Psychology | Tagged , | 1 Comment

The problem with preferences

Posted on April 14, 2017 by koenfucius

(Featured image: Images Money) Can an objective measure like money help determine what we really, really want? A cynic, Oscar Wilde wrote in his play Lady Windermere’s Fan, is “a man knows the price of everything, and the value of nothing”. … Continue reading →

Posted in Behavioural economics, Economics | Tagged , | 2 Comments