by Aseem Gupta | May 16, 2020 | Psychology
Have you ever noticed how your desire for something intensifies when it becomes scarce? Whether it’s the last cookie in the jar or a limited edition item, scarcity has a powerful effect on our perception and behavior. This article will explore the scarcity error...
by Aseem Gupta | May 15, 2020 | Psychology
In decision-making, we often fail to assess the true weight of probability accurately. Instead, our emotional impulses and biases skew our judgment, particularly when faced with seemingly large rewards or the potential for catastrophic outcomes. Consider two games of...
by Aseem Gupta | May 14, 2020 | Psychology
Group dynamics can be both a blessing and a curse in decision-making. While collaboration can foster innovation and synergy, it can also lead to a phenomenon known as groupthink. This article delves into the perils of groupthink, exploring how it can undermine...
by Aseem Gupta | May 13, 2020 | Psychology
Coincidences have a way of capturing our attention and sparking intrigue. Whether it’s a miraculous escape, a timely phone call, or a bizarre series of events, these occurrences often leave us wondering if a hidden force is at play. In this article, we explore...
by Aseem Gupta | May 12, 2020 | Psychology
The allure of ownership is a powerful force that often skews our perception of value. The endowment effect, a cognitive bias identified by psychologists, sheds light on how we overestimate the worth of things simply because we own them. This bias influences our...
