With the constant stream of data about COVID-19, it can be hard to make sense of all the numbers. We look at the base rate fallacy, and how some people are making this mistake when assessing risk.

Recently I've been deep-diving into a model of brain, mind, and behavior—active inference and the free energy principle—developed by a leading neuroscientist and computational psychiatrist Karl ...

Are you only looking at what can be measured?"Overtime hours have decreased," "The number of responses has increased." Have ...

The IPL mega auction highlights how emotions can cloud decision-making for franchise owners. These psychological traps mirror ...

Economics professors typically cover the “economic way of thinking” in the first chapter of a principles of economics course. After covering 8-10 of the most important guideposts and principles of ...

That is the counterintuitive theory that Sandeep Baliga of the Kellogg Graduate School of Management and Jeffrey Ely of Northwestern University’s Department of Economics advance in their paper ...

A discussion about sunk cost fallacy and why people struggle to leave situations that no longer serve them while learning how past experiences can become valuable lessons. #Psychology #PersonalGrowth ...

Quote of the day, from economist Milton Friedman: “Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.” In ...

Dividends give equity investors a less risky way to make money. Dividends received from a stock don't count toward the gains or losses that were made by buying that stock. When bond yields rise, ...