Behavioural economics reveals the irrational decision-maker in all of us Humans are pretty complicated creatures — but that hasn’t always been reflected in the influential field of economics. Economic models based on assumptions we are fully emotionless have, however, given … Continue reading Economists are not normal
Let’s obliterate the myth that humans have a bad sense of smell Humans are the superior animal on planet Earth. We have huge brains that allow us to build skyscrapers and come up with dazzling inventions like pizza and the … Continue reading Trust your sense of smell
Norway, the happiest country in the world? I’m not so sure It’s always strange to live in a country that is listed as being one of the very best. When you have everything outwardly, it can make you look inwards. … Continue reading The law of Jante
Psychologists uncover a new self-serving bias – if it’s my theory, it must be true If you look at the research literature on self-serving biases, it’s little surprise that critical thinking – much needed in today’s world – is such … Continue reading The SPOT Effect
Don’t Tell Your Friends They’re Lucky Cornell professor of economics Robert Frank says he’s alive today because of “pure dumb luck.” In 2007, he collapsed on a tennis court, struck down by what was later diagnosed as a case of … Continue reading Are you lucky?
How to keep your resolutions (clue: it’s not all about willpower) It’s hard to think of a situation in which it wouldn’t be extremely useful to have more willpower. For a start, your New Year’s resolutions would no longer be … Continue reading Willpower comes and goes
Time for Wall Street to Produce Products for People, Not Robots Investors have a tendency to unnecessarily intervene and rebalance their portfolios, which often results in long-term underperformance (see chart below). As Morningstar has eloquently put it, investors “suffer[ing] from … Continue reading People are not robots