Tag Archives: consumer

Psychological Myopia: The Tendency to Think Short-Sightedly

decisions

Psychological myopia refers to the tendency in decision makers to focus on information immediately related to their judgment and to ignore other, less prominent, pieces of information. Continue reading

The Endowment Effect: Why We Overrate the Value of Stuff

Macbook air

Problem-solving objects are highly valued.

Selling and buying stuff at the second-hand market has become a trend. The possibility of saving loads of money is appealing to us. But too often, we are confronted with sellers, who we think overrate the value of their stuff. Continue reading