Blog

Category: Decision Making

  • Reference Dependence In Primary Elections

    Reference Dependence involves comparing outcomes to what we are focused on rather than an absolute scale. Thus higher pay after a cut may make us less happy than lower pay after a raise. Comparison to the reference, here past earnings, helps explain behavior. What then can we deduce about reference dependence in primary elections? Reference…

  • Competitor Orientation And The Evolution of Business Markets

    My first major article was on Competitor Orientation And The Evolution of Business Markets. I think it is a fun one. Even though it took years and years to publish. Some may have agreed. it was fun That said, it is a bit mathy at times. Aiming To, Is Not Maximizing Profits When people envisage…

  • Natural Monopoly And The Beer Store

    A natural monopoly occurs when an industry gives the best social outcome if it is run by a single firm. For instance, building two railways lines to a small town wastes resources. the two lines, therefore, don’t increase public welfare. What can we say about natural monopoly and the Beer Store? The Problem Of Monopoly…

  • The Tragedy of Common Sense Morality

    Joshua Greene uses the Tragedy of Common Sense Morality as a central theme in his book — Moral Tribes. His suggests that our brains are actually surprisingly well adapted to solve the tragedy of the commons. In the tragedy of the commons, our personal incentives to behave uncooperatively cause disaster for everyone. Greene calls this…

  • Dimensions of Morality

    Jonathan Haidt believes he can bring people of different political approaches together. To do this it is important to understand the dimensions of morality. Understanding Others Haidt’s is an admirable goal. He is surely right when he notes that differences are not simply because “some people are good and others evil” (Haidt, 2012, page 370).…

  • Variety Seeking And Halloween Candy

    Variety Seeking Behavior Has A Large Literature My Halloween post is about variety seeking. This is an active topic in consumer psychology. There is a strain of research that asks why some people embrace variety more than others. I generally am less excited by work on the stable differences between people, traits. People do differ…

  • Does WEIRDness matter?

    There is a debate in psychology and consumer behaviour. This concerns the generalizability of results from western university laboratory experiments. Lab experiments can be great at isolating causes. Yet, what you discover may not apply outside the specific context. Experiments, a criticism goes, tend to use a specific pool of subjects, so called WEIRD subjects.…

  • Thinking By The Numbers; Mostly Smart And Occasionally New

    I enjoyed the book Super Crunchers. It is a couple of years old [in 2014] but it still reads well. Perhaps some of the surprise people might have had when it was published may have dissipated. In recent years things only the rare few knew about, e.g. metadata and data warehouses, have become staples of dinnertime conversation. It…

  • Fairness and Channel Coordination

    Fairness matters in life. People are motivated to achieve fair outcomes. (Although people are generally quicker to notice shares that are unfair to them than to other people.) Given business is a human social endeavor it shouldn’t be a huge surprise that fairness matters in business too. Adding fairness concerns to models of how business works…

  • Too Much Information

    Peter Shawn Taylor’s article in the July issue [2014] of Canadian Business tackled an interesting issue. Can we give consumers too much information? The Problem Of Too Much Information In Disclosures Consumers need adequate information to reward marketers offering a good a deal. As such, information is generally a good thing. That said, long legal disclaimers…

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