jeshbhat In our modern society, the art of making choices and problem-solving takes center stage. Our daily lives are filled with countless situations that demand our active involvement in navigating our surroundings and engaging in critical thinking to ensure we achieve the desired outcomes. This constant need to think critically and take action is fundamental to … Read more
Once upon a time, an old lady had lived in a village for all her days. One fateful day, she got into a heated altercation with her fellow townspeople. She cursed them, claiming they’d learn a valuable lesson when she left. The curious villagers prodded her for details, wondering what was in store for them … Read more
Ever pondered on these questions when you are up for a deal: “Am I really getting a bargain, or am I just the ‘winner’ of an expensive auction?” “Should I buy now before prices get even higher, or wait until prices come down?” “Is it better to pay more and win or less and lose?” … Read more
What are your thoughts on these; Do gathering clouds always bring rain? Do barking dogs seldom bite, or do they turn out to be friendly? And do past trends correctly indicate a venture’s future success or failure? Is it part of human nature to think and base our decisions on preconceived ideas, beliefs, and attitudes? … Read more
In the legendary investor Charlie Munger’s words, “Incentives will almost always trump any moral duty.” Still, many of us think incentivized achievement structures are necessary to encourage high performance, dont we? Munger also says, “Bad behavior is intensely habit-forming when it is rewarded.” What is the essence of this? Any thoughts? Give it a thought-A … Read more
Are you looking for an edge when it comes to making a deal? Ever wondered if you can make sure both sides win when negotiating? Can we leverage our expectations and still gain the upper hand in negotiations with an effective strategy? Conquer negotiations like never before by mastering this impressive strategy – Anchoring! In … Read more
Smarter people make smarter choices, don’t they? So read on, A close family friend in our circle is an excellent baker and maker of dips and sauces. Her homemade treats have been sought after at get-togethers and potlucks for a long time now. However, recently this friend got smart! In a way to increase demand … Read more
Are you a student, buyer, or consumer overwhelmed by the abundance of choices? In our quest to find the best options and make informed decisions, too much freedom can become a real problem. Enter “The Paradox of Choice”, an especially relevant psychological bias that makes decision-making even harder than it already is. Learn about the … Read more
Are you feeling the pang of saving money each month? It’s like a necessary evil to secure your future. But it’s also true that it can make you feel like you’re going broke. So, what’s the solution? Did you know that we humans are wired to fear losing more than we love to gain? Losing … Read more
Are you ready for a wild ride into uncertainty? Did you know that the notion of a “black swan” can shake the foundation of any belief system? It dates back to the 2nd-century Roman poet Juvenal. It relates to the idea that a rare occurrence can turn your belief system upside down. This concept of … Read more