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We Still Don’t Believe How Much Things Cost
Deodorant was what changed Rob Cooper’s mind about the economy. After paying under $4 for his signature Old Spice Stronger Swagger for a decade, the 49-year-old was shocked last year to see it priced at
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How the Sunk Cost Fallacy Impacts Your Relationships
In the field of economics, the sunk cost fallacy — also called the sunk cost effect — is notorious. It occurs whenever we double down on poor financial decisions based on past investments that can’t
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The Science of Us
No one could accuse the boy’s self-appointed trainers of lacking ambition or being sticklers for ethical research. Psychologist John Watson of Johns Hopkins University and his graduate student Rosalie Rayner first observed that a 9-month-old
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Daniel Kahneman
Daniel Kahneman is a psychologist, winner of the Nobel Prize in Economics, and recipient of the Presidential Medal of Freedom. Daniel joins the Armchair Expert to discuss the complexity of human nature, studying judgment and
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Before You Answer, Consider the Opposite Possibility
In 1906, the British statistician and polymath Francis Galton attended a country fair at which the attendees were invited to estimate the weight of an ox. Out of curiosity, Galton borrowed the cards on which
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