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
What is Sunk Cost Fallacy and how does it impact your business?
Imagine that you spent Rs.5,000 a few weeks ago to buy a match ticket. On the day of the match,
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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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Gambler’s fallacy: Why it matters in business?
Let me take you back to the roulette table of Monte Carlo casino in 1913. In the last 10 spins
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Decoy effect: Why it matters in business?
Imagine you are in a cinema hall and want to buy yourself popcorn. You see a small pack for 3$
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