“Rising confidence can be self-reinforcing, driving stronger growth in the future as people and businesses spend more.” Do you feel more confident about the economy?
“Rising confidence can be self-reinforcing, driving stronger growth in the future as people and businesses spend more.” Do you feel more confident about the economy?
An interesting article on the persistence of gender wage gap. How do you think we can close the gap?
Check out this article and let us know what you think.
Let’s learn how to predict the next crisis:
http://www.economist.com/blogs/freeexchange/2015/03/emerging-markets
http://www.stamfordmag.com/s/Special-Advertising-Section-2015/Time-to-Come-Out-of-Hiding/#.VK1fuUgE6rM.mailto
A recent Toronto conference, sponsored by the non-profit Public Policy Forum, looked at how to encourage people to save more for retirement. One discussion tackled the psychological origins of undersaving, where David Laibson a Harvard behavioral economist, offered plenty of examples of the problem along with some possible solutions.
http://metronews.ca/money/1205420/psychology-of-undersaving-and-how-to-take-charge/
While behavioral economics has typically been used by companies in many industries to entice consumers to make bad decisions (e.g., pricing or advertising products in ways that entice us to make impulse purchases or consume junk foods), health is one sector in which the incentives are now aligned so that the private sector is motivated to nudge people to make good decisions.
http://www.publicfinanceinternational.org/features/2014/10/nudging-healthy-behaviors/
We have published our first newsletter of the year! Look forward to more in the upcoming months.
Often, leaders are taught to think of things in the long-term, but if we are to follow the findings of behavioral economics, we must understand that decisions are made impulsively at times, and are based on current emotions.As a leader, it is important to recognize when your teammates engage in this type of behavior, and foster in them a risk-taking attitude. It is your job to navigate your followers along the right way, and help them understand the difference between a dynamic move and a pointless gamble.
Link to the article:
http://www.economist.com/blogs/schumpeter/2012/08/behavioral-bias
The order in which people experience things affects their opinion of them: they tend to like the first option best. This is the result of a new study by Dana Carney of Berkeley’s Haas School of Business and Mahzarin Banaji of Harvard University.