All About Psychology
Money doesn’t just pay bills, it also shapes emotions, identity, and relationships. When that money turns into debt, it doesn’t only affect a bank statement; it creeps into self-esteem, mental focus, …
[Read more...] about The Psychological Weight of Credit Card Debt and How to Cope Successfully
It's happened to us all: we promise it'll only take 5 minutes, but then, as if by magic, the clock seems to speed up, and suddenly half an hour has passed. It happens all the time: when we're …
[Read more...] about Planning Fallacy: Why Do 5 Minutes Turn Into Half an Hour?
Anyone who has tried to sell a car or a house will know that the owner and the buyer rarely see the price from the same perspective. Both want the best price, but that means their interests are at …
[Read more...] about The endowment effect… Or why prices are so high?
Imagine you're sitting in the office and there's a glass of water on your desk. It's a normal glass of water. Your everyday glass. So if someone asked you how much you'd pay for that glass of water, …
Adults like numbers. When you tell them about a new friend, they never ask about the essentials. It never occurs to them to ask: "What's the tone of his voice? What games does he like best? Does he …
[Read more...] about The Cost of Meaning: Unpacking the Difference Between Price and Value
“Choose a job you love, and you will never have to work a day in your life,” goes a popular adage under which many of the younger generations have grown up. The message is certainly inspiring. Who …
[Read more...] about Choose a job you love – and you will continue working for the rest of your life
Within the framework of economics and decision making, sunk costs are all those past costs that a company or person incurred and that cannot be recovered. This type of costs is often compared with …
[Read more...] about Sunk costs fallacy: How does it lead us to failure?
