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

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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