Everyone likes to think that they are rational and logical, but everyone is prone to making decisions driven by misconceptions, fear, and pride. The reason is pretty simple, it feels…
Posts published by “Simran Randhawa”
Simran is a law graduate from National Law Institute University, Bhopal. She takes a keen interest in academic research and writing. With an experience of 6 years in academic research, she has worked on several books and written papers on research, finance, business, and innovation.
How do we self-license ourselves? How do we decide when to do what? How do we choose to do something bad or not so good after doing something well? Let…
Let us say that you went to the nursery and are thinking of buying an attractive-looking ornamental tree. Some leaves of the tree were a bit brown, but you ignored…
Suppose it is John’s first day at the office and there is an important meeting that you have to attend. He catches his regular train to the office, but he…
Let me take you back to the roulette table of Monte Carlo casino in 1913. In the last 10 spins of the roulette wheel, the ball has landed on black.…
Endowment Effect example
Do you know why cake mixes was not intially a huge success? Back in the 1950’s Betty Crocker instant cake mixes were introduced for the first time. Contrary to the…
You have 5 seconds to think of your favorite memory with your pet…. Got it? Now, is this particular memory really your favorite memory with your pet? Or is it…
In 1985, Coca-Cola launched the “New Coke,” a slightly new variety of the original Coke flavor. In the blind taste testing, the majority of consumers preferred the New Coke over…
Imagine that you spent Rs.5,000 a few weeks ago to buy a match ticket. On the day of the match, it starts raining. It is also a weekday, and you…
