Economics

How the Brazilian government used psychology to market a new currency

What is a government to do when rampant inflation cripples a currency and the public’s faith in it’s ability to hold value? Brazilian policymakers faced this very question nearly thirty years ago. In a bold move, they chose to answer this question by creating and marketing a new currency–the Unit of Real Value–which existed in …

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Kahneman and Tversky: Judgment under Uncertainty

A classic paper from Daniel Kahneman and Amos Tversky examines the role that heuristics play in our decisions, predictions, and assessments in situations characterized by uncertainty. This video attempts to illustrate the ideas presented by Kahneman and Tversky in their 1974 paper, Judgment under Uncertainty, which was originally published in Science. The paper looks at …

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The IKEA Effect: Why everyone around you is photographing the same scene

One of my favorite shrines I had the chance to visit in Japan was the Fushimi Inari shrine in Kyoto. The shrine grounds are uniquely picturesque—the winding pathways are scattered with miniature shrines and lined with thousands of orange torii gates. I had a hard time resisting the urge to take photos as we strolled …

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