The Difference
Economics: price is a function of supply and demand. Behavioral economics: that’s true… for commodities. When buyers perceive a difference, maybe not. when people act rationally; not influenced by the...
View ArticleCarolla: Why You’re Poor
Not to get too deep, but a lot of this is psychology. When you’re poor, you feel beat-down and shamed. You don’t feel like you deserve nice things. But saving a nickel by getting the generic pair of...
View ArticleSit! Read! Good boy!
The more I know about my dog’s psychology, the better our relationship becomes. I can get him to roll over on command. He can let me know when he wants to go to the dog park and play (every day at...
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Does Smiling Art Induce Happiness?
There’s a new trend in street art: making everyday objects anthropomorphic. Essentially, by putting eyeball-like ping-pong balls or simple googly eyes on everyday objects, artists are making human-like...
View ArticleThe Real Story Mathematicians Don’t Want You to Know
There is an 80% chance that you (yes, YOU) can’t learn anything from statistics. Consider instead this experiment at NYU by Nisbett and Borgida. Six participants in a study are taken to room in which...
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The Brilliant Concept Every Marketer Knows But No One is Doing Online
Online marketing is direct marketing. Would it make sense to rip a page from the direct marketing experience of the not-too-distant past? Most online sales pages look the same. Here’s how it happened....
View ArticleCan Psychology Beat the Stock Market?
It’s rather in vogue lately to compare the stock market to a casino. This is largely because the statistical data confirm that the trades made by “experts” typically perform no better than chance....
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Applying Prospect Theory Logic to Other Psychological Phenomena
Daniel Kahneman is psychologist who received the Nobel Prize for economics in 2002 for his co-development with Amos Tversky of prospect theory. The theory suggests that under risk, rather than making a...
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Welcome Back Mr. Yakamoto! Minority Report Marketing How To
This is part 3 in a series where Kurt Munz assumes the helm of Gap Inc. Direct, the e-commerce arm Gap Inc… hypothetically This is going to get a little bit sci-fi. You remember how in Minority Report,...
View ArticleThe Long Tail & Spaghetti Sauce: How to Sell More Shirts Online
This is part 5 in a series where Kurt Munz assumes the helm of Gap Inc. Direct, the e-commerce arm Gap Inc… hypothetically In 2004, journalist Malcolm Gladwell famously remarked at TED that the perfect...
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