IKEA effect: Why it matters in business?
Do you know why cake mixes were not initially a huge success? Back in the 1950’s Betty Crocker instant cake […]
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Business Psychology
Status Quo Bias: How it impacts your business?
In 1985, Coca-Cola launched the “New Coke,” a slightly new variety of the original Coke flavour. In the blind taste
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Difference between Heuristic and Biases and their types?
Heuristics and bias are words often used when discussing decision-making and how we think and function mentally. However, some people
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Disposition effect: Why it matters in business?
Everyone likes to think that they are rational and logical, but everyone is prone to making decisions driven by misconceptions,
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Licensing effect: How it impact businesses?
How do we self-license ourselves? How do we decide when to do what? How do we choose to do something
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Halo effect: Why it matters in business?
Let us say that you went to the nursery and are thinking of buying an attractive-looking ornamental tree. Some leaves
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Fundamental Attribution Error: Why it matters in business?
Suppose it is John’s first day at the office and there is an important meeting that you have to attend.
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