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Over-influence from framing effects

The Psychology of Risk and Reward

An excerpt from The Aspirational Investor: Taming the Markets to Achieve Your Life’s Goals that I think you’d enjoy. Most of us have a healthy understanding of risk in the short term. When …

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Choice Under Uncertainty

We use heuristics – rules of thumb – to make judgments. These can lead to certain predictable biases. These can lead to certain predictable biases. For instance, we classify situations …

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How Williams Sonoma Inadvertently Sold More Bread Machines

Paying attention to what your customers and clients see can be a very effective way to increase your influence and, subsequently, your business. Steve Martin, co-author of Yes! 50 Secrets from the …

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Social Dilemmas: When to Defect and When to Cooperate

Social dilemmas arise when an individual receives a higher payoff for defecting than cooperating when everyone else cooperates. When everyone defects they are worse off. That is, each member has a …

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