Category: Behavioral Economics

The Ostrich Effect

  “We know – intellectually – that confronting an issue is the only way to resolve it. But any resolution will disrupt the status quo. Given the choice between conflict and change on the...

The Halo Effect | Painting: Saint Lawrence by Bonanat Zaortiga

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...

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...