The Best behavioral economics blogs you should check
Behavioral Economics is a fascinating field that combines insights from psychology, judgment, decision-making, and economics to generate a more accurate understanding of human behavior. It provides us with the tools to understand how people make decisions and how these decisions impact the economy. If you’re interested in exploring this intriguing blend of psychology and economics, […]
book review “Thinking, Fast and Slow” by Daniel Kahneman
Image Source: Unsplash Daniel Kahneman, a renowned psychologist and Nobel Laureate, offers an insightful exploration into the intricacies of our mind and decision-making processes in his magnum opus, “Thinking, Fast and Slow”. Drawing from decades of pioneering research, Kahneman presents a compelling narrative that unravels the dual systems of our mind, their interplay, and the […]
Book Review: Predictably Irrational – Dan Ariely
Image Source: Unsplash Introduction In the realm of decision-making and behavioral economics, few books have made as much of an impact as ‘Predictably Irrational’ by Dan Ariely. Published in 2008, this ground-breaking work has reshaped our understanding of human behavior, challenging the assumption that we are rational beings who always make decisions based on our […]
best decision-making books
Image Source: Unsplash In the realm of cognitive psychology and business, understanding the mechanics of decision-making is crucial. By refining this skill, we can make better choices that influence our personal and professional lives in positive ways. This article is a compilation of the best decision-making books that offer valuable insights into the process of […]
The Levels of Processing Effect
The Levels of Processing Effect is a fundamental theory in cognitive psychology that focuses on the importance of encoding information for better memory retention. Developed by Fergus I.M. Craik and Robert S. Lockhart in their 1972 paper, this theory posits that the deeper the level of processing during encoding, the more effectively information is stored […]
The Planning Fallacy: Understanding and Overcoming This Cognitive Bias
In today’s fast-paced, competitive world, businesses and individuals alike often find themselves striving to achieve their goals in the shortest amount of time possible. This drive for efficiency and success can sometimes lead to overly optimistic predictions and plans that don’t pan out. The planning fallacy, a cognitive bias that causes people to underestimate the […]
Debunking the Misconceptions: What is Confirmation Bias and its Influence on Business Decision-Making
Image Source: Unsplash As a seasoned business professional, I’ve encountered various challenges and obstacles in the decision-making process. One of the most prevalent and insidious issues I’ve faced is the influence of confirmation bias. In this article, I aim to debunk the misconceptions about what is confirmation bias, explore its impact on business decision-making, and […]
System 1 and System 2 Thinking
When I was 18 years old I read about the concept of System 1 and System 2 and since then my life has changed and been shaped by this understanding. In fact, I think that the concept of System 1 and System 2 is one of the most astonishing discoveries you can learn about people […]
How Many Decisions Do We Make Each Day?
Have you ever wondered how many decisions you make every day? Think about it, from the moment you wake up you HAVE to decide – what to wear, what to eat, what to say, what to text, and even who to vote for. The power of decision-making is a well-researched topic, but surprisingly, if you […]
framing effect effect – in marketing and business
framing effect economics The framing effect in economics refers to the way in which people make decisions based on the information presented to them. This can be seen in marketing and business, where companies use different frames or perspectives to influence consumer behavior. For example, a product could be framed as a luxury item with […]