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Free to Choose? December 4, 2017
If you’re like most people, you probably think you’re good at making decisions and pretty much always know what you want (and why). The evidence from psychology, on the other hand, points the other way. For instance, Barry Scwartz’s The Paradox of Choice shows that the more choices we are faced with when making a […]
cpd1967
Warming Our Hands on a Dumpster Fire November 12, 2017
The Sunk Cost Trap is another of those cognitive heuristics that can catch us all out. It describes how the more we have invested in something, the less willing we are to let that investment go. So instead of ‘cutting our losses’, we often find ourselves ‘doubling down’. We literally do this with financial investments […]
cpd1967
Wouldn’t You Rather Be Fishing? September 14, 2017
How many hours do you spend at work each week? Data from the OECD suggests that New Zealanders are a hard working bunch, with an ‘average’ full time work week of 43.3 hours. But at the same time, StatsNZ data show that the proportion of people working 50 hours or more a week has reduced […]
cpd1967