I haven’t written about rationality for a while but I’ll return to note a recent paper by Xilin Li and Christopher Hsee. In it they look at the impact of lay views of rationality and raise a problem with such lay rationality. It is a fun paper and, broadly speaking, I agree that their conclusion…
Word Of Mouth And Movie Piracy
Marketers are confident that word of mouth helps stimulate demand. This perhaps isn’t too shocking. It seems reasonable that recommendations can encourage people to purchase. One area where this is likely to be the case is in movies. Reviewers pick over movies and give their thoughts. Normal people often are happy to share their views…
Credit Hours, Outcomes, Academic Missions And School Brand
Mark Garrett Cooper and John Marx have a lively take on the American research university in their book Media U. They discuss the linkage between academic missions and school brand. Popular Features Of Universities Allow The Intellectual The authors discuss how American research universities have always required an audience to deliver value. A key point…
Experimental Philosophy
Ruwen Ogien’s book — Human Kindness and the Smell of Warm Croissants –lays out a number of approaches to experimental philosophy. Much of the text involves descriptions of classic moral problems. These put to normal people and are often challenging by their nature. The most famous probably being trolley problems. These investigate what people think…
Pareto Efficiency In Markets
A key idea when analyzing markets is Pareto efficiency. This is also called Pareto optimality. Despite the name it is a simple idea. We see Pareto efficiency in markets whenever you can’t make anyone better off without making someone else worse off. There is thus a number of optimal points. Each point involves a different…
Good Practice In Undergraduate Education
One of the strangest things about being a professor is that outsiders think this means you are primarily a teacher. As a researcher, you feel that you aren’t primarily a teacher. (Some snooty colleagues even find being called a teacher a bit of insult). The particularly strange thing is the outsiders do have a sensible…
Surviving In The Misinformation Age
David Helfand has written a book designed to illuminate thinking that will help spot problems in the public discourse. He gives a guide to surviving in the misinformation age. Big Issues Around Scientific Understanding He is aiming for a popular book, but not too much. He doesn’t dumb it down. At times I felt he…
Stereotyping And Market Entry Strategy
I have a paper just published in Customer Needs and Solutions on stereotyping and market entry strategy. This paper has quite a history, with early versions arising from my dissertation (13 years ago). It was quite a journey. The final paper looks nothing like where it started. (For example, it contains a minor nod to…
Governing The Commons
Elinor Ostrom had a profound impact on research about institutions. She got the Nobel Prize in Economics. This was for her work thinking about how social affairs could be governed: Governing The Commons. Common Pool Resoruces This goes much wider than corporate governance. It speaks to how communities deal with the control of their valuable…
“Rational” Decision Making in Practice
Behavioural Economics (and related marketing research) has great potential for practical application. There are a number of things that people reliably do that cause them problems. So advice can help improve this. Presh Talwalkar has a book on improving decision making — The Irrationality Illusion — that offers some tips for making decisions more rational….
