Offsetting Behavior
Suppose I told you that putting on a seatbelt makes you drive more dangerously. "Nonsense!," you might think, "why would wearing a seatbelt »
Path Dependence
If you drive to work in the morning, you probably do so in a gasoline-powered car. Compared against the electric cars that actually exist (versus maybe »
Orders of Magnitude
Imagine you're building yourself a new house, from scratch, and you're trying to guess how many bricks you'll need. You »
Game Theory: Strategy and Backward Induction
Let’s play a game. I’ll let you go first which I promise will let you win… if you play just right. The game is »
Understanding the Sunk Cost Fallacy
At the beginning of this year, I bought an annual bus pass to get onto my university campus. Halfway through the year, though, I realised that »