In decision making the quality of any decision you make is bounded by a series of strictures, the time you have to make the decision, the quality of the information you receive and your cognitive abilities to process the information you receive. Decision making can never be perfect because no collection of these inputs will…
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“It’s like a comedy of errors,” Madoff told Soltes. “To cover the losses, I decided to take in money from hedge funds. And in order for me to do that, I had to commit to a long-term strategy that I wouldn’t send the money back [to investors]. I kept taking in more money, figuring that…
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Think that blabbing about your goals all over social media makes you more likely to fulfil them then think again. When Intentions Go Public from Trading Game Pty Ltd
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A British app founded by three Cambridge graduates that predicts the next word you want to write using artificial intelligence has been bought by Microsoft for £174 million – but one of the three missed out after selling his stake for a bicycle. Chris Hill-Scott, who set the company up with Jon Reynolds and Ben Medlock in…
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Now that the jingoistic gush fest that is the Olympics is over we can all recover from the notion that every Australian athlete who actually performed up to expectations was a genius and that those that failed to do so still had a big future in front of them (most likely in hospitality) we can…
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One of the things I find most frustrating about travelling is not the general carry on that is travelling. After decades of it you get used to the queues, the poor service, the people who shouldn’t be let out of the house let alone a plane and then there is the brilliance of an airline…
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Now that I have settled in following my trip to Sydney I have had a chance to unpack and to clear out my junk mail folder. My junk mail folder is used to collect any manner of financial dross and it is a veritable treasure trove of hyperbole, breathless overstatement with a slight dash of…
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Using tools gleaned from behavioral economics to help people make better decisions is all the rage these days. This work is built on the theory that behavioral biases – like the sunk cost fallacy, status quo bias, or the tendency to give outsize attention to very unlikely events – are cognitive mistakes that are holding…
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