How many decisions have you made so far today? Feeling tired? You may not be surprised to learn that a decision-charged day will leave you mentally-fatigued and progressively worsen your decision-making ability. But did know you that this worsening takes place in a systematic way? As a rule, the greater the fatigue, the more the decision-maker will opt for the choice that is mentally the least demanding, namely the default or the status-quo. This means it is possible to predict what people will choose based solely on the number of decisions they have already made. Continue reading
‘Can I have a pay rise?’
‘No,’ replied the boss.
‘Well could you cut everyone else’s salary then?’
In a world populated by the rational agents of economic theory, no-one would find any humour in this exchange – it could not exist in the first place. Continue reading