Explore the Joseph Effect, a concept inspired by ancient prophecy and coined by Benoit Mandelbrot, that explains patterns of cyclical trends in financial markets.
Explore what rational behavior entails in economics, its impacts on decision-making, and how it contrasts with emotional responses in behavioral economics.
Explore the concept of anchoring and adjustment, a crucial cognitive bias in decision-making, detailed with examples and strategies to mitigate its effects.
Explore how bounded rationality affects decision making in economics and business, offering a realistic perspective on how individuals and organizations make choices in the absence of perfect information.
Explore the concept of heuristics, their role in behavioral economics, and how these mental shortcuts influence both our daily decisions and financial strategies.
Unpack the fundamentals of Rational Choice Theory, exploring how individuals make decisions based on rational calculations to align with personal interests.
Explore the concept of the hot hand fallacy, its psychological implications in investments and sports, and the evidence that challenges our understanding of probability and success.
Discover how the Law of Diminishing Marginal Utility impacts consumer behavior and pricing strategies in economics. Essential reading for students and professionals.
Explore the intricacies of Human Information Processing (HIP) and its impact on decision-making in the financial sector. Learn how economic behaviors are influenced by cognitive processes.
Explore the house money effect theory, a behavioral finance concept explaining why investors risk more with winnings. Learn its implications for your investment strategy.
Explore the concept of the Winner's Curse, where the winning bid in an auction exceeds the item's intrinsic value, often leading to regrets and financial misjudgments. Learn how emotions and incomplete information can influence auction outcomes.
Dive into the world of gamification, where game-style mechanics revolutionize engagement in various non-game contexts, improving customer and employee interaction.