WHAT IS NEOMANIA AND WHY YOU SHOULD DISREGARD THE BRAND NEW How will the world look in fifty years? What will your everyday life be like? With which items will you surround yourself? People who pondered this question fifty years ago had fanciful notions of how ‘the future’ would look:… Read More »What is Neomania?
WHAT IS INABILITY TO CLOSE DOORS AND WHY YOU SHOULD SET FIRE TO YOUR SHIPS Next to my bed, two dozen books are stacked high. I have dipped in and out of all of them, but am unable to part with even one. I know that sporadic reading won’t help… Read More »What is Inability to Close Doors?
WHAT IS INTROSPECTION ILLUSION AND WHY YOU SHOULD BE YOUR OWN HERETIC Bruce is in the vitamin business. His father founded the company when supplements were not yet a lifestyle product; a doctor had to prescribe them. When Bruce took over the operation in the early 1990s, demand skyrocketed. Bruce… Read More »What is Introspection Illusion?
A video explaining Affect Heuristic by Rolf Dobelli the author of The Art of Thinking Clearly on the IDFC Mutual Fund Youtube Channel. What is Affect Heuristic? And why you are a slave to your emotions The affect heuristic is a mental shortcut used when making automatic decisions, whereby we… Read More »What is Affect Heuristic?
WHAT IS VOLUNTEER’S FOLLY AND WHY VOLUNTEER WORK IS FOR THE BIRDS Jack, a photographer, is on the go from Monday to Friday. Commissioned by fashion magazines, he divides his time between Milan, Paris and New York and is constantly in search of the most beautiful girls, the most original… Read More »What is Volunteer’s Folly?
What is Forer Effect? And how to expose a charlatan Dear reader, it may surprise you, but I know you personally. This is how I would sum you up: ‘You have a great need for other people to like and admire you. You have a tendency to be critical of… Read More »What is Forer Effect?
WHAT IS SIMPLE LOGIC AND BEWARE OF SPEED TRAPS AHEAD! Three easy questions. Grab a pen quickly and jot down your answers in the margin. First question: in a department store, a ping-pong paddle and a plastic ball cost $1.10. If the paddle costs $1 more, how much is the… Read More »What is Simple Logic?
What is Expectations? And why you should handle with care Consider the following example On 31 January 2006, Google announced its financial results for the final quarter of 2005. Revenue: up 97%. Net profit: up 82%. A record-breaking quarter. How did the stock market react to these phenomenal figures? In… Read More »What is Expectations?
WHAT IS THE LAW OF SMALL NUMBERS AND WHY SMALL THINGS LOOM LARGE You sit on the corporate board of a retail company with 1,000 stores. Half of the stores are in cities, the other half in rural areas. At the behest of the CEO, a consultant conducted a study… Read More »What is Law of Small Numbers?
What is effort justification? And why it hurts so good Consider the following examples: Example 1 John, a soldier in the U.S. Army, has just completed his paratrooper course. He waits patiently in line to receive the coveted parachute pin. At last, his superior officer stands in front of him,… Read More »What is Effort Justification?