The psychology of passwords: ‘You won’t change until you’ve been hacked’ You know you should; you know you must! But for some reason you just don’t ever seem to get around to changing your passwords. You could simply start using … Continue reading Wilful blindness
Overlooking purchase insurance can be costly Software developer Ram Balakrishnan was skeptical about his credit card’s purchase security benefit when his son broke a new video game console shortly after opening the gift. But after checking with the card issuer, … Continue reading Insurance is boringly complex
Gambling is a feature of capitalism—not a bug In a modern capitalist economy, almost everything is for sale, including risks. Markets can transfer known risks to people or institutions who can handle the risk more effectively. The cost of rebuilding … Continue reading Why people trade risk
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?
Why football bets are far more profitable to bookmakers than gambling machines When the government completes its review of the gambling sector in the coming weeks, a clampdown on fixed odds betting terminals (FOBTs) looks to be on the cards. … Continue reading The house always wins
To survive in an increasingly unpredictable world, we need to train our brains to embrace uncertainty We don’t like experts to express uncertainty. Imagine a politician running for president who promises “I’ll try to make good decisions most of the … Continue reading The uncertainty embracers
Primal fear can blinker our decisions, even in elections Few researchers in the history of psychology are as controversial as Harry Harlow. His most famous experiment was to socially isolate infant rhesus monkeys and give them a choice between two … Continue reading Fear won