Behavioural Economics
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Part economics, part psychology, the field of Behavioural Economics seeks to describe how people actually make decisions rather than adopting the traditional economic approach of assuming that everyone makes all their decisions based on rational cost-benefit analysis.
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What We Can Learn About Pricing From Menu EngineersWhat We Can Learn About Pricing From Menu Engineers By Mike Speiser | Sunday, September 13, 2009 | 12:00 AM PT | 14 comments Let’s say that you’re an entrepreneur or general manager about to take a new product to market. How do you price it? Traditional economic theory tells us that the m...
Calvin Smith
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7 weeks ago
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The Crack Cocaine of Auction Sites: Swoopo.com is the most efficient, addictive way to separate people from their money.| The Big MoneySwoopo.com and its devilish ways of getting money out of you
Al Wood
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4 months ago
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Predictably Irrational » Blog Archive » Context effect in Britain’s Got Talent?A marvelous book that is both thought provoking and highly entertaining, ranging from the power of placebos to the pleasures of Pepsi. Context effect in Britain’s Got Talent? 13th June 2009, 11:34 pm I got this suggestion from Thomas Aedy in Eton College in the UK: Dear Dan, The ...Vishal Doshi added 4 months ago
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Findings - Message in What We Buy, but Nobody’s Listening - NYTimes.comMessage in What We Buy, but Nobody’s Listening Why does a diploma from Harvard cost $100,000 more than a similar piece of paper from City College? Why might a BMW cost $25,000 more than a Subaru WRX with equally fast acceleration? Why do “sophisticated” consumers demand 16-gigabyte iPhones ...
John Pretorius
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5 months ago
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What You Don’t Know Makes You Nervous - Happy Days Blog - NYTimes.comWhat You Don’t Know Makes You Nervous CAMBRIDGE, Mass. — Seventy-six years ago, Franklin Delano Roosevelt took to the inaugural dais and reminded a nation that its recent troubles “concern, thank God, only material things.” In the midst of the Depression, he urged Americans to remember that ...
John Pretorius
added
5 months ago
Comments
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What You Don’t Know Makes You Nervous - Happy Days Blog - NYTimes.comWhat are the implications on how you should live your life? Some thoughts: -Don't test for genetic predisposition to diseases - ignorance is bliss. -If something may have gone wrong, find out immediately - even if the worst occurred, you'll feel better about it. -Don't play reverse lotteries ...Benjamin Levin added 5 months ago
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PLoS Medicine - Why Current Publication Practices May Distort ScienceIgnoring the domain specificity (research) this is a very good article in terms of issues identified (artificial scarcity (scarcity != value, concentration of resources on high vis problems), problems with first past the post (duplication of effort, constraining of attention, winners curse, etc) ...Kurt Laitner added 12 months ago
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Sometimes Crowds Aren't That Wise - ReadWriteWebInteresting post...hadn't heard about this. I don't use digg nearly as much these days as I used to, maybe that's a good thing!Sean Carmody added 17 months ago
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Started May. 24, 2008
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