Economics

Information Avoidance: What is it and how does it work?

The Information Age We’re said to live in the Age of Information. Awesome amounts of information sits at our fingertips. We can type the word “coconut” into Google and receive 518 million search results in .84 seconds. We can pick up the Sunday edition of the New York Times and hold more information in our …

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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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