The Economics of Apologies

I'm a big fan of people offering their apologies for when they have done something wrong. In fact, I apologize that you have somehow come across this post and started reading it. I've written about this before (Why Is It So Hard for Some People to Admit They Are Wrong), and in that post included … Continue reading The Economics of Apologies

The Power of Free

A group of researchers offered participants of a study a choice between purchasing a Hershey ’s Kiss chocolate for 1-cent ($0.01) or Lindt Lindor chocolate truffle for 15 cents ($0.15). The participants, recognizing this as a good deal since the price differential in a supermarket would be larger than 14 cents between the two options, overwhelmingly … Continue reading The Power of Free

You Can Do This, Jimmy

You've got this, Jimmy. You can write a blog post that people will find both informative and entertaining. You've come up with some good headlines in the past, Jimmy. You can do it again. Sorry, I was just trying to psyche myself up (for some unknown reason, when I refer to myself in the third … Continue reading You Can Do This, Jimmy

Dan Missed the Most Obvious Solution Here…

It's been two weeks, so that must mean it's time for another "Ask Dan Ariely" post, and fortunately, Dan and the Wall Street Journal came through. Here is this week's email that caught my attention: Dear Dan, I know it’s not good for my health to sit at my desk all day without breaks, so … Continue reading Dan Missed the Most Obvious Solution Here…

Hmmm… Maybe I’m the Exception

In one of today's emails to behavioral economist Dan Ariely, a husband is baffled where he went wrong with the birthday gift he bought his wife. Here's the email: Dear Dan, I bought my brother a top-of-the-line espresso machine for his birthday. My wife remarked that it was a very generous and thoughtful gift, so … Continue reading Hmmm… Maybe I’m the Exception

Don’t Worry, I’ll Never Get Tired of It

It was a good week, thanks to Dan Ariely. I was able to use two letters from his advice column to create two posts. In case you missed it, here is the first one about putting your camera away when you are trying to create memories. And here is the second: Dear Dan, My fiancé … Continue reading Don’t Worry, I’ll Never Get Tired of It

Want to Remember That Special Moment? Put Your Camera Away…

Intuitively, it makes sense. If you want to remember that special moment, many of us instinctively reach for our phone or camera to take a picture of it. However, that does not seem to be the case. In his most recent Wall Street Journal column, Dan Ariely addresses this very issue in responding to a … Continue reading Want to Remember That Special Moment? Put Your Camera Away…

Once Botched, Twice Shy?

The title of this post is a twist on one of my favorite songs, "Once Bitten, Twice Shy", by Ian Hunter, former lead singer for the British band Mott the Hoople. If you're not familiar with the phrase, here is the definition from the Cambridge Dictionary: said when you are frightened to do something again because … Continue reading Once Botched, Twice Shy?

Testing the “Peak-End” Rule

Blah blah blah. Blah blah blah. Total Assets = Total Liabilities plus Total Equity Harrisburg is the capital of Pennsylvania. Future value of a lump sum = Present value of the lump sum * [(1 plus the interest rate) raised to the number of years] Blah blah blah. Blah blah blah. Here is an email … Continue reading Testing the “Peak-End” Rule

To plan or not to plan?

Many of Dan Ariely’s recent columns have focused on COVID-19 issues and his current one is no exception. Here’s a question a reader posed: Dear Dan, The holidays are right around the corner, but I’ve been hesitating to make plans to visit family or host a party. The changing Covid-19 situation means that any plan … Continue reading To plan or not to plan?