Christmas Light Economics
It’s not often I say this. Seth Godin is wrong. In his recent blog post, Godin posits “People like the way it feels to live in a community filled with decorated houses.” This, he claims, explains why...
View ArticleApplying Prospect Theory Logic to Other Psychological Phenomena
Humans view all choices as relative. Based on the subject's state before the choice, an outcome will be viewed as either a gain or a loss, and he will make his choice differently depending on this...
View ArticleSex Compels: Men Throw Prospect Theory to the Wind for a Chance at Love
In the risks people take, Kahneman and Tversky’s Prospect Theory (1979) laid out certain instances where humans flip their behavioral script and start behaving opposite. Normally, people are risk...
View ArticleRelatively Speaking: How Context Influences Decisions
In my last post, I discussed the three biggest factors affecting judgment & decision making. Today I want to take an in depth look at the first idea on the list: Relativity. What is Relativity? Say...
View ArticleAre Time & Age the Same?
How GOOGLE is capitalizing on the one of the biggest influences in decision making In a recent conversation I had with Hal Hershfield, Assistant Professor of Marketing at the NYU Stern School of...
View ArticleEvolutionary Roots of Consumer Decision Making Talk at NYU Friday
Vladas Griskevicius, co-author of The Rational Animal: How Evolution Made Us Smarter Than We Think speaks at NYU Friday, Sept 27, at 2:30pm SCPA, a student-organization at NYU which I lead, is hosting...
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