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SUNK COST FALLACY
Psychology says people accept bad behavior from partners that they would never tolerate from friends: Harville Hendrix's insights explain whyAccording to the psychological insights of Harville Hendrix, people often put up with behaviors from romantic partners that they would neve...- Quote of the day by Taylor Swift: ‘Giving up doesn't always mean you're weak; sometimes…’ – ‘Taylor’s version’ on letting go, self respect and moving forwardModern culture often praises relentless persistence. However, the article highlights that knowing when to release what no longer serves us ...
- UPSC makes important changes to application process for all exams: Check the new four-part structure and new websiteThe UPSC has launched a new online application portal with a four-part structure to streamline the registration process for all future exam...
- ‘Abysmal waste’: Former RBI Governor D Subbarao explains why UPSC urgently needs a reformDuvvuri Subbarao suggests changes to the civil service recruitment. He proposes reducing the age limit and attempts for the UPSC exam. Subb...
- Understanding without biasProportionality bias is the tendency to attribute significant events to equally significant causes. This bias often fuels conspiracy theori...
- Kahneman for investors: How to use behavioural economics to become better a investorFor those who invest, this work is particularly relevant. The financial markets are filled with uncertainty, risk and emotional stress—cond...
- 6 Daniel Kahneman principles to follow to avoid losing moneyDaniel Kahneman, who passed away on 27 March at the age of 90, told us that our ability to make good decisions is not as easy as it appears...
- What is opportunity cost in investing: 4 things to knowIf there is an alternate use to which money can be put, a decision to ignore it and do what one set out to do, creates an opportunity cost....
- How to improve your team's performance: Use these 8 modelsA mental model is a summary or compressed version of how a thing works. Let’s consider how you can apply some of these models as a team lea...
- Have a life insurance policy that does not suit your need? How to find out and get rid of bad insurance coversThe assured returns and enormous maturity amount of life insurance policies look tempting to many. Topping the list is the need to save tax...
- Just like you clean your house for Diwali, you need to separate duds from your investment portfolioAs long as we can avoid selling, we feel the loss is not yet made. In an accounting sense, that’s true. However, in practice, it is not.
- Kill the Ravana within you to become a successful investor!Ravana’s ten heads represent his ten different qualities. Today, we will concentrate on those qualities that might be inside ourselves, cau...
- Averaging stock positions not always a good market strategy. Here's whyWhen investors average down, they either take a contrarian approach or hope for the stock’s past performance to replicate in the future.
- Anchoring, biases, curse of knowledge: Mistakes that lead to inaccurate judgements at workSocial scientists study how cognitive bias or stereotyping impacts workplace behaviours.
- How dud stock becomes long-term investment in our portfoliosOur investment behaviour is driven by our notion of loss and gain, not by logic. Past cost should not matter in rational decisions. But whe...
- Economic Survey 2019: Use mental tricks, religion to make people save more, pay taxesThe Economic Survey 2019 suggests using religion and psychological biases in the realm of personal finance.
- Seven pieces of investment advice from Warren BuffettHere are 7 insights from which we can glean a lot of understanding about wise investing.
- View: Modi and the sunk cost fallacyThe government has pegged 2016-17 GDP growth at 6.5% and revised downward the 2017-18 growth rate.
- 9 tips on how to stop postponing and get work doneProcrastination gets in the way of achieving your professional and personal goals and traps you in a vicious cycle of failure and self-hate.
- Invest on the basis of analysis not optimismAnticipating a revival in earnings and demand growth is a dangerous way to plan your investments. Put in hard work and look for quality whe...
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