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Month / December 2018

The Best Book To Introduce Behavioral Economics

Nudge By Cass Sunstein and Richard Thaler Rating: 8/10 Best Line #1: Some kind of nudge in inevitable. Choice architecture, whether public or private, must do something. Best Line #2: Never underestimate the power of inertia; and remember that this power can be harnessed. If economics is the dismal science, behavioral economics is the human […]

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The Matters Most Sequence

The dog bit Johnny. Johnny bit the dog. Same exact words, different syntax, totally different experience. — Tony Robbins from the Tim Ferriss Show #37 While dabbling in other languages, I’ve come to appreciate the importance that sequence plays in our communication. Particularly as a native English speaker. We can use the same words as […]

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A Nudge Towards Better Information Diets

Yesterday’s article introduced the idea of a “nudge” through the customer’s experience at the grocery store. This is a regular, routine-oriented experience within a choice-rich environment. If you count the things you don’t choose to buy, a typical visit at the grocery store could theoretically involve thousands of decisions. There are decisions you planned to […]

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Choice Architecture at the Grocery Store

There is no such thing as a neutral design. — Cass Sunstein and Richard Thaler Last week’s book, Thinking Fast and Slow, is a critical foundation for understanding how we think. Biases, heuristics, Systems 1 and 2 … these are vital concepts and frameworks. It was a lot of work, and a lot of fun, to […]

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The Best Book for Learning How To Think

Thinking Fast and Slow By Daniel Kahneman Rating: 10/10 Best Line #1: Laziness is built deep in our nature. A general “law of least effort” applies to cognitive as well as physical exertion. Best Line #2: You must learn to mistrust your impressions. Learn to recognize situations in which mistakes are likely and try harder […]

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Avoiding The Narrow Frame

Judge Judy is a fun show that pulls a lot of levers in our collective minds. Curious narratives, rivalry in the form of arguments from a plaintiff and defendant, human emotion, tension via uncertainty. And that’s just in the first half of a case. Initial arguments from early testimony set up a cloudy picture of […]

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A Bad Outcome Doesn’t Mean A Bad Decision

Every now and then, the business world offers moments of startling clarity. In these moments, where a founder “bets the company” or a rival makes a winning strategic move, you can understand the impact of decisions. Some decisions, like the design choices around the iPod, are clearly wonderful. Other choices, like the rollout for New […]

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A Chicken’s Body Temperature Is 144 Degrees

In Thinking Fast and Slow, Daniel Kahneman features one of my favorite experiments ever conceived. It involves the natural bias we all feel towards familiarity. As something becomes familiar to us, it becomes comfortable. That comfort reduces uncertainty and creates “cognitive ease.” Cognitive ease is a sign of firm understanding; it’s what allows us to […]

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Towards A Balanced Way Of Thinking

If there is one thing I hope to never lose, it’s the capacity for intellectual surprise. It seems to diminish with time. After all, when did you last hear an middle-aged person joyfully say “That was mind-blowing!”? It doesn’t happen very often. Most the adults I meet seem to instead have all the answers and […]

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