How Casinos Enable Gambling Addicts On the morning of Monday, August 13, 2012, Scott Stevens loaded a brown hunting bag into his Jeep Grand Cherokee, then went to the master bedroom, where he hugged Stacy, his wife of 23 years. … Continue reading Is gambling becoming more addictive?
Why transparency would have saved us from the 2008 financial collapse From my desk at Bear Stearns, where I’d traded mortgage-backed securities for years, I watched as the financial and housing markets crashed in 2008. A few months later, there … Continue reading Transparency is not just a buzzword
Technology, the Faux Equalizer Just over a century ago, an electric company in Minnesota took out a full-page newspaper advertisement and listed 1,000 uses for electricity. Bakers could get ice-cream freezers and waffle irons! Hat makers could put up electric … Continue reading Is technological innovation unfair?
Under new Oregon law, all eligible voters are registered unless they opt out Americans are required to register if they want to vote; as of this week, Oregonians will have to register not to. In front of a packed and … Continue reading Do you not want to vote?
How Nike Turned Running Shoes Into Fashion The first Nike shoes were made in a waffle iron. The running field near the Oregon home of the runner and trainer Bill Bowerman was making a transition from cinder to an artificial … Continue reading Conspicuous consumption
The Feel-Good Switch: The Radical Future of Emotion For most of the last century, the study of emotions was not considered serious science. The problem was subjectivity. Science is objective, rigorously objective. Emotions, though, are internal states, so the only way to study them is through subjective inference (essentially asking people to report how they feel). But — because people lie, because we often misinterpret our emotions and because comparisons between subjects, that is the depth of my anger versus your anger, is impossible to measure—there’s no objective data to be found. Thus, until recently, the topic was taboo. ….[READ] Continue reading What is the Emotion Economy?
Overconfidence in New Technologies Can Influence Decision-Making Technological advances in recent decades have transformed most aspects of daily life, and technology now plays a major role in business and society. However, little is known about how perceptions of technology might influence decision-making. Now, University of Missouri researchers have shown that people tend to overestimate the likelihood of new technologies’ success; this overconfidence can influence important decisions, such as investment choices. “Technology has advanced to the extent that people may not understand how a particular technology works, but they do assume that it will work,” said Chris Robert, associate professor of … Continue reading The technology bias