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...
Category: Behavioral Economics
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...
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...
The Dunning-Krueger Effect
One of the painful things about our time is that those who feel certainty are stupid, and those with any imagination and understanding are filled with doubt and indecision. Bertrand Russell Ignorance more...
