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This classic thought experiment explains the weird decisions we make about spending money
Quartz: Some years ago, I interviewed the Nobel prize-winning psychologist and bestselling author Daniel Kahneman. He told me one of his all-time favorite thought experiments, which is something of a classic in behavioral economics. It
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How Virtual Reality Can Boost Retirement Savings
The Wall Street Journal: What if you could travel into your own future to see what your life will look like in 20, 30 or even 40 years? Well, it turns out that virtual time
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What Should You Choose: Time or Money?
The New York Times: Given the choice between more time or more money, which would you pick? For a beach vacation, you might pay more for a direct flight to gain a couple of extra
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A bit of cash can keep someone off the streets for 2 years or more
Science: If someone is about to become homeless, giving them a single cash infusion, averaging about $1000, may be enough to keep them off the streets for at least 2 years. That’s the conclusion of
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Paying With Cash Hurts. That’s Also Why It Feels So Good.
The New York Times: Paying with cash is painful — and that’s a good thing, according to new research. When people pay for items using cold, hard cash rather than by card or online, they
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The Incalculable Value of Finding a Job You Love
The New York Times: Social scientists have been trying to identify the conditions most likely to promote satisfying human lives. Their findings give some important clues about choosing a career: Money matters, but as the
