Post No.: 0755 Furrywisepuppy says: Physical stores employ a bunch of techniques in order to get us to spend more, that we might not consciously notice – these include the design of the aisle layout, the placement of … Read More
Post No.: 0746 Fluffystealthkitten says: Some common but unreliable heuristics that customers trust in include assuming that ‘a higher price always means a higher quality or better product’, ‘a discount always makes something good value’ or ‘multi-buys always … Read More
Post No.: 0738 Fluffystealthkitten says: Marketing companies nowadays routinely employ popular influencers to try to get messages or videos trending on social media like on Instagram, YouTube, TikTok or whichever platforms are most currently fashionable and relevant for … Read More
Post No.: 0711 Furrywisepuppy says: The holy grail for doing something that’s desirable is instilling an intrinsic motivation for doing it. This was expounded in Post No.: 0705. But not every task or desirable behaviour can be … Read More
Post No.: 0692 Fluffystealthkitten says: The glass ceiling is a metaphor for how women find it difficult to enter the highest echelons in their industries and thus obtain the highest salaries and decision-making powers e.g. c-suite executives in … Read More
Post No.: 0680 Fluffystealthkitten says: While the law of demand in microeconomics assumes that prices will always go up as demand increases, and down as demand decreases – we actually frequently see ‘sticky prices’, and customers will deem … Read More
Post No.: 0668 Furrywisepuppy says: What comes between fear and sex? Fünf! …Ich bin eine kleine Rottweiler – that’s zwei I like drei humour :|. Woof! Fear and sex both grab attention. People pay prioritised … Read More
Post No.: 0658 Furrywisepuppy says: Gambling in casinos, on online casinos, in the bookmakers, on fixed odds betting terminals, and the like, may be regarded as a fun pastime if one is indeed having fun and can afford … Read More
Post No.: 0649 Furrywisepuppy says: I enjoy the subject of negotiations because of the social psychology aspect. They can play out like psychological chess. That’s why I like sharing with you what I’ve learnt… In international contexts, … Read More
Post No.: 0644 Furrywisepuppy says: There’s always at least one direct misalignment of interests between a buyer and a seller – the buyer wants to give as little money as possible to the seller, and the seller wants … Read More
Post No.: 0638 Fluffystealthkitten says: You’d probably assume that all businesses, at the forefront of their minds, care deeply about their customers staying healthy and alive for as long as possible so that they’ll consume more of their … Read More
Post No.: 0626 Furrywisepuppy says: Fluffystealthkitten wrote about how astronomical the CEO-to-average-worker compensation ratio is in Post No.: 0604. I found it so intriguing that I wanted to know how CEO compensation packages are usually ultimately determined… … Read More
Post No.: 0615 Fluffystealthkitten says: Several previous posts so far have explored negotiations mainly in terms of big items like when buying or selling a house or hammering out a salary package. But haggling should be a more … Read More
Post No.: 0610 Furrywisepuppy says: ‘Cumulative prospect theory’ (and its predecessor ‘prospect theory’) modifies classical economic utility theory to take into account real human decision-making behaviours – particularly by accounting for reference points from which gains/losses are compared … Read More
Post No.: 0604 Fluffystealthkitten says: In surveys repeated in the US and UK, ~9/10 of us accept some wealth inequality in order to incentivise work – but not this existing gross level and rate of ever-widening inequality. Many … Read More
Post No.: 0592 Furrywisepuppy says: A pure ‘monopoly’ is when there’s only a single seller of a product in a particular market and there are no close substitutes. Because of this lack of competition and thus lack of … Read More
Post No.: 0582 Furrywisepuppy says: When bartering, the way most concession patterns go is that the first concession is the largest, then further concessions gradually get smaller and smaller until it seems like it’s going to stop at … Read More
Post No.: 0567 Fluffystealthkitten says: Previously in this series of posts on the topic of global economic development (Post No.: 0547), I said that we’d extend on our examination on research and development, or R&D – more specifically … Read More
Post No.: 0547 Fluffystealthkitten says: Urbanisation and land rights were explored in Post No.: 0487 in this multi-post analysis on how countries tend to economically develop. Here we’ll continue to examine industrialisation a little further, with a focus … Read More
Post No.: 0541 Furrywisepuppy says: Even in business contexts, being allocentric, which means being concerned with the interests of others (at least as much as one’s own), can bring advantages. For example, you’re very interested in using an … Read More
