Ideas from books, articles & podcasts.
Let’s say you go to buy a watch, and the first one you like costs $150, which exceeds your budget, soon after you see a watch that costs $125, this new price seems reasonable now, even though this too might exceed your budget, however, as compare...
The decoy effect occurs when a person’s choice between 2 items changes when a third option, asymmetrically dominated, is introduced.
This third option is made easy to discard.
The decoy option is added to nudge the customers towards the intended target option...
The curse of knowledge is a cognitive bias, which occurs when people fail to consider that others don’t have the same background knowledge or information as they do.
Someone knowledgeable in a particular field might find it difficult to put themselves into a beginner’s shoes (or someone who...
Have you felt that whenever you’re trying to remember someone you met in the past, you find it difficult to recall them from memory but recognise them easily through looking at their pictures?
These scenarios exemplify Recognition over Recall. It’s easier f...
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