THAT human beings often continue to pour money into bad projects because they have already invested in them and cannot bring themselves to lose that investment is well known. Indeed the sunk-cost fallacy, as this phenomenon is called, is frequently cited as an example of people failing to behave in More
The New York Times: Richard H. Thaler, whose work has persuaded many economists to pay more attention to human behavior, and many governments to pay more attention to economics, was awarded the Nobel Memorial Prize in Economic Sciences on Monday. Professor Thaler is the rare economist to win a measure More
The Nobel Prize in Economic Sciences awarded to economist Richard H. Thaler has its roots firmly planted in psychological science, particularly in the work of two of the world’s most renowned behavioral scientists. More
New York Magazine: Purpose isn’t just a virtue confined to ear-burrowing pop songs and best-selling self-help books: According to a pair of studies, it approximates the proximity of your grave and the size of your bank account. As noted on Minds for Business, both studies were done by Patrick Hill More
Longitudinal research reveals that individuals with a strong sense of purpose are more likely to outlive – and outearn – their less purposeful peers. More
RAND announces its two annual RAND Summer Institute conferences that address issues facing our aging population: The Mini-Medical School for Social Scientists on July 10–11, and the Demography, Economics, Psychology, and Epidemiology of Aging conference on July 12–13, 2017. The conferences will convene at the RAND Corporation headquarters in Santa More
