Gift Card vs. Cash – Which Would You Prefer?

It's a question that at first glance, at least to me, has a simple answer. Cash, of course. Cash enables you to do anything you can do with the gift card, plus a whole lot more. A gift card, on the other hand, restricts your choices to just the gift associated with the card. By … Continue reading Gift Card vs. Cash – Which Would You Prefer?

Paralysis by Analysis – Guilty as Charged

A reader wrote the following to Dan Ariely in today's Wall Street Journal: Hi, Dan. I offered to purchase a computer as a gift for a close relative, and I asked him to pick out the one he wanted. But he simply can’t make a choice. He keeps comparing different models and researching all the … Continue reading Paralysis by Analysis – Guilty as Charged

Out of the Frying Pan and Into the Fire

An EasyJet flight taking off in France had to be diverted last week because of a fake bomb threat. Flight EZY4319 from Lyon to Rennes was in the air when authorities received an anonymous call that suggested a bomb could be on the plane. The pilots returned to Lyon, but no bomb was found. Investigators said the … Continue reading Out of the Frying Pan and Into the Fire

Making Decisions Consciously

How much thought did you put into some of the key decisions you have made over the years? Decisions such as where to live, where to work, what faith to follow, what foods to eat, or how much money to save for retirement. My guess, based on a very unscientific method of just observing the … Continue reading Making Decisions Consciously

The Sunk Cost Fallacy

You're a college student and a die-hard Bruce Springsteen fan. You bought a ticket for $150 two months ago to see him in an upcoming concert. The day of the show has finally arrived, but you have a big Accounting test the next day. If you go to the show, you will miss some valuable … Continue reading The Sunk Cost Fallacy