The Halo Effect
Don’t put people, or anything else, on pedestals, not even your children. Avoid global labels such as genius or weirdo. Realize those closest get the benefit of the doubt and so do the most...
Econowmics Blog
Christopher A. Pissarides
“I know you worry about the deficit but I think you worry about it too much. Keynesianism of the kind that guided policy after the Second World War no longer works, but there...
Status Quo Bias: Let’s stay the same
Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They’re not fond of rules. And they have no respect...
The Gresham’s Law: Bad money vs. Good money
“The course our city runs is the same towards men and money. She has true and worthy sons. She has fine new gold and ancient silver, Coins untouched with alloys, gold or silver, Each...
Loss Aversion
“In trying to make sense of this pessimism, Ridley, like Kahneman, sees a combination of cognitive biases and evolutionary psychology as the core of the problem. He fingers loss aversion—a tendency for people to...
