This week Troy visits the North Carolina Museum of Natural Sciences and examines how thinking in categories can lead people to have less fun and make potentially dangerous mistakes. To read more on this topic of research see the original “Border Bias” paper and categorical research by Norbet Schwarz and colleagues. (See the original post on … Continue reading »
Why we need underdogs in March Madness
Every year, March Madness gives us an underdog story and millions flock to a momentary allegiance with a college they could not locate on a map. In the past it has been George Mason, Virginia Commonwealth University and Butler, and this year we eagerly await a new momentary hero. So why do we love underdogs? … Continue reading »
Be Happy! The Super Bowl Blackout was a Collectable Experience
Collectable experiences are defined as unique, unusual, novel, or extreme experiences. Instead of viewing the Super Bowl blackout of 2013 as a frustrating experience, view it as a “collectable experience” and you will enjoy it more. That’s what researchers did one New Years Eve in Times Square with a similarly frustrating event. Spectators were increasingly … Continue reading »
Investment Jaws
I have recently gotten hooked on ABC’s Shark Tank (based on the original Dragon’s Den), a reality show in which rookie entrepreneurs seek investments from wealthy self-made investors. These investors are the titular “Sharks,” who receive investment proposals ranging from a folding guitar company to a business in cat toilet-training kits. Once a sales pitch … Continue reading »
Considering Consideration Sets
When faced with a decision (e.g., like what to do on a week night), our final decisions are based less on what options are available, and more on what options we consider. The options that come to mind most easily are the options that form our consideration set, and then we choose from that set. … Continue reading »
Are Wii U Prices Manipulating Shoppers’ Psychology?
The pricing structure of Nintendo’s Wii U could manipulate shopper psychology via the decoy effect (see here and here for more on the effect). The Wii U is mainly available in two forms: a $350 Deluxe version and a $300 Basic, and without a doubt the $350 deluxe is a much better deal for most shoppers.. … Continue reading »
The Psychology of Black Friday
Why do shoppers get so crazy and sometimes so irrational on Black Friday? Troy Campbell visits the local mega-mall on Black Friday to find out.
Why Can’t We Be Friends? The Joy of the Political Fight
Journalists, businesses, comedians, and the rest of us have been crying out to politicians, “Why so much fighting?” and asking, “Can’t we all just get along?” Despite these calls for bipartisanship and peace in Washington, the quarrels rage on. Why? Although politicians say they wish the fighting would end, they may actually take pleasure in … Continue reading »
Truth Bending: Why Politicians are Such Comfortable Liars
Today many Americans find themselves thinking: how are politicians so comfortable lying? The answer may be found in the important element of how they lie. Specifically, politicians rarely lie straightforwardly; instead, they bend the truth. Because “truth bending” is rooted in some version of the truth, it creates enough wiggle room for politicians to maintain the … Continue reading »
Partisans Don’t Know How the Middle Feels
Ten minutes into the Presidential debate, my democratic friends were sure it was a failure. They tweeted, “Nothing he is saying is making me feel anything.” A lot of Democrats have walked away from Romney’s monologues unaware of how moving Romney’s comments can be. They have felt absolutely secure that an Obama victory is in … Continue reading »
