MORE IDEAS FROM Alchemy
In competitive markets, it pays to have (and to cultivate) eccentric tastes, it doesn’t always pay to be logical if everyone else is also being logical. Logic may be a good way to defend and explain a decision, but it is not always a good way to reach one. This is because conventional logic is a straightforward mental process that is equally available to all and will therefore get you to the same place as everyone else. But when choosing things in scarce supply it pays to be eccentric.
"We do not have full access to the reasons behind our decision-making because, in evolutionary terms, we are better off not knowing; we have evolved to deceive ourselves, in order that we are better at deceiving others".."if all our unconscious motivations were to impinge on our consciousness, subtle cues in our behaviour might reveal our true motivation, which would limit our social and reproductive prospects"
Our decision making (non mathematical kind) is largely driven by feelings and comes with attached post rationalisations.
You can only learn from a mistake after you admit you've made it.
Don't start blaming other people (or the universe) for the things that go wrong, because you distance yourself from any possible lesson.
The secrets that companies like Facebook, Google and Amazon don't want you to know
An incentive is simply a means of of urging people to do more of a good thing and less of a bad thing.
There are three basic flavors of incentive:
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