Trust the Price Tag?

The concept of a price tag is only about 140 years old. Prior to that transactions were a negotiation between buyer and seller. Basically, everything was a yard sale, with haggling expected. Today of course, haggling about the price of an airline seat or an entree at your favorite restaurant is a lost cause. The price […]

The Riddle of Experience versus Memory

I’ve written about the Nobel laureate Daniel Kahneman and his groundbreaking work on cognitive biases and behavioral economics both here and more recently in my regular column for Outsource Magazine—but I wanted to share a TED video of his in which he talks about how our “experiencing selves” and our “remembering selves” perceive happiness differently. Kahneman, professor emeritus of Psychology at […]

Outsource Magazine — February 2014

Kahneman, Tversky and cognitive biases Kate Vitasek’s colun/blog for Outsource Magazine (online), published 6 Feb 2014. Nobel laureate Daniel Kahneman, professor emeritus of Psychology at Princeton University, famed for his psychological research into economic science and behavioral economics, laid the foundation for the field of research known as cognitive biases… Here’s the link: http://outsourcemagazine.co.uk/kahneman-tversky-and-cognitive-biases/

The Psychology of Outsourcing, Part 10: Daniel Kahneman – Bridging Economics and Psychology

I’ll close this 10-part series with a bang: a Nobel Laureate in economics who also happens to be a psychologist, Daniel Kahneman. Kahneman, a professor emeritus of Psychology at Princeton University, questioned the assumption of rationality behind the decision-making process and the “cognitive traps” that make it virtually impossible to think clearly about happiness and […]