Deliberate Ignorance: The “Whens” and the “Whys” of not wanting to know
In the age of information, Ignorance Is a choice and knowledge is gold. However, sometimes we opt for deliberate ignorance even if the information is free. Why?
Category: Behavioral Economics
Confirmation bias: how self-deception affects our decisions
Confirmation bias: a ‘self-deception’ that limits decisions and favors information that validates preconceptions and personal beliefs.
Scrooge Economics: The Behavioral Economics of Christmas
What does behavioral economics have to tell us about Christmas? Why do we choose certain gifts? And is the idea of gift cards a good one?
Nature and Nurture Behind our Decision-Making
Nature or Nurture, this is the dilemma. Or not? Let’s dive deep into this fascinating topic and take a look at interesting findings from seminal experimental studies conducted in the field of Neuroeconomics and Neuromarketing.
All that’s rare is not gold: The Scarcity heuristics in UX design
We leverage the Scarcity Heuristics in UX design when we want to prompt users to buy right now by leveraging the impulse to place more value on what is considered limited in quantity, time or accessibility. Anticipatory regret as well plays a huge role in this context.
Sunk Cost Effect: The Concorde Failure
Concorde planes had experienced failures on dozens of occasions prior to the 2000 wreck, yet its producers had taken next to no measures before deciding to officially close the program. Why? Behavioral Economics can teach us a valuable lesson on the sunk-cost fallacy.
Individual decision, collective consequences: Game Theory and Covid-19
The situation we are experiencing during the current Covid-19 pandemic confronts individuals with challenges of a different nature, highlighting, among many complex dynamics, the closely interconnected nature of certain decision behaviors. This concept can be analyzed by taking as a reference the issue related to the contagion containment measures, which have affected Italy, since the beginning of Covid-19 emergency and continue to do so. Crucially, the reduction of the harm caused by the contagion would depend upon the collective adoption of those measures.
What can NYC taxi drivers teach us about working remotely?
What can NYC Taxi Drivers teach us about working during a pandemic? Working Remotely can become a smarter and smarter if we know the biases holding us back.