Choice Fatigue

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

Some Are Less Equal Than Others

‘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