Tag: decision making
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What Six Colorful Hats Can Teach Us About Working in Groups
This is how a group of people can solve a problem without arguments. Think about all the times you’ve been in a team meeting, dealing with some issue. Everyone goes in with the best intentions, but the team members quickly form their own ideas of what needs to be done, argue about why everyone else…
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Mimetic Desire: a philosophy for asset bubbles and FOMO
Tulip Mania. The Roaring Twenties. The Dotcom Bubble. Bitcoin.
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Nudge Theory: how a little psychology can go a long way
This is how you can change people’s behaviour without anyone realising. In a perfect economy, people faced with a decision would choose the best, most rational option for them, every time. What’s more, the more choices you give to people, the better their decisions will be. We all know the world doesn’t work like that.…
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Prospect Theory: an ‘S’ curve and the relatively muted joy of winning
The frame of reference is essential to understanding why we make the decisions we do.