TIME: In an earlier post we described research showing that people get more long-lasting satisfaction from money spent on experiences than money spent on material goods. If you read that post and took it to heart—humor us—an obvious question arose: Do psychologists have anything to say about what sorts of More
When Dan Ariely was a teenager, he suffered burns so severe that he spent three years in the hospital. Ariely worried about how his injuries would affect the way he fit in socially — especially when it came to dating. Now a professor of behavioral economics at Duke University, Ariely More
Business Insider: Those who exert more patience and are willing to wait for larger financial payouts down the line have credit scores an average of 30 points higher than those who are less patient, according to a study to be published in the journal Psychological Science next month. Time Moneyland’s More
The Wall Street Journal: Barry Ritholtz at The Big Picture riffs today on how meaningless he finds the National Retail Federation surveys of how much consumers expect to spend at holiday time. His table of year-over-year changes in expected vs. actual spending is an eye-opener. The same phenomenon has been More
International Business Times: The Stanford marshmallow delayed gratification test is one of the most influential behavior studies in modern history. Conducted by Stanford psychologist Walter Mischel in 1972, it has proven to be a solid predicator of success in life and is used by elite preschools to screen their young More
Nobel Laureate Daniel Kahnman pioneered the study of behavioral economics, making note of some bizarre disparities between how different elements of the human brain process emotions. This lecture focuses mainly on the “cognitive traps” the mind sets for itself — a phenomenon most people never even realize in their lifetimes. More
