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Behavioral Economics

62 articles
The Psychology of the Dunning–Kruger Effect
Behavioral Economics
13 min read · March 17, 2023

The Psychology of the Dunning–Kruger Effect

TL;DR The Dunning–Kruger Effect is a cognitive bias where people overestimate their abilities due to a lack of self-awareness and…

Bastin Gerald Bastin Gerald
how-does-social-loafing
Behavioral Economics
11 min read · December 23, 2022

Adverse Effects of Social Loafing in the Workplace

Introduction Collaboration is the lifeblood of every successful business, but nearly four in 10 employees say it’s lacking in their…

Bastin Gerald Bastin Gerald
5-steps-in-daily-work
Behavioral Economics
14 min read · December 16, 2022

5 Steps in Daily Work Routine to Improve Productivity

Productivity is one of the key factors that determine the success of an individual’s career. Producing the most amount of…

Bastin Gerald Bastin Gerald
elevator
Behavioral Economics
9 min read · December 16, 2022

What is an Elevator pitch? How to Write One, With an Example

You can have the vision to build a great organization that produces excellent products. But in the end, all that…

Bastin Gerald Bastin Gerald
self-serving-bias
Behavioral Economics
10 min read · December 2, 2022

The Effects of Self-Serving Bias at The Workplace

Our minds look for the meaning behind every good and bad thing that happens in life. We prefer positive events…

Bastin Gerald Bastin Gerald
Sunk-Cost
Behavioral Economics
10 min read · November 18, 2022

Sunk Cost Fallacy and Failing Initiatives

The sunk cost fallacy is our habit of continuing a project we invested in, even when the downsides outweigh the…

Bastin Gerald Bastin Gerald
Bounded_Rationality
Behavioral Economics
6 min read · November 18, 2022

Bounded Rationality – Limitations and Examples

TL;DR Bounded rationality explains why people rarely make perfectly logical decisions. Limits in time, information, and mental capacity push us…

Bastin Gerald Bastin Gerald
Barnum-Effect
Behavioral Economics
8 min read · November 18, 2022

The Psychological Reasoning Behind Barnum Effect

Introduction When you crack open a fortune cookie, the message inside is likely heartwarming or motivating, like, “You are almost…

Bastin Gerald Bastin Gerald
What-is-Representativeness
Behavioral Economics
7 min read · November 11, 2022

Representativeness Heuristic and Decision-Making

Decision-making is a complex process that determines our daily lives, from choosing our meals, our significant others, our purchases, and…

Bastin Gerald Bastin Gerald
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