by Off to a slow start this year:Dropped again:Does the Fed care about it’s internal index?Israeli study: How Information Graphics Reveal Your Brain’s Blind Spots Houston airport: Passengers were complaining about the inordinately long time they had to wait to pick up their bags. The airport decided to look more closely at the baggage collection process. They found that passengers typically got off an airplane, walked for about a minute from the gate to the baggage claim carousels, then waited about seven minutes for their bags. That is, most of their time was standing around and waiting.So the airport changed the location of baggage claim so that it was further from the arrival gates, which meant that passengers were now walking for seven minutes and waiting for only one. The complaints stopped. Fidelity did a study of all their accounts to see what types of investors performed the best. They found that the best investors were the people who had either forgotten they had an account in the first place — or were dead! In other words, most investors succeed in doing the exact opposite of what they set out to do with their money (presumably, make more of it).Some of our most peculiar mental quirks highlight just how temperamental our judgments can be.
Topics:
WARREN MOSLER considers the following as important: Uncategorized
This could be interesting, too:
Peter Radford writes Weekend read – A STIGLITZ ERROR?
Editor writes Economics — a dismal and harmful science
Stavros Mavroudeas writes Το ψηφοδέλτιο της ΑΝΤΑΡΣΥΑ-Ανατρεπτική Συνεργασία στις ευρωεκλογές
Editor writes Real-world economists take note!
Off to a slow start this year:
Dropped again:
Does the Fed care about it’s internal index?
Israeli study:
How Information Graphics Reveal Your Brain’s Blind Spots
Houston airport:
Passengers were complaining about the inordinately long time they had to wait to pick up their bags. The airport decided to look more closely at the baggage collection process. They found that passengers typically got off an airplane, walked for about a minute from the gate to the baggage claim carousels, then waited about seven minutes for their bags. That is, most of their time was standing around and waiting.
So the airport changed the location of baggage claim so that it was further from the arrival gates, which meant that passengers were now walking for seven minutes and waiting for only one. The complaints stopped.
Fidelity did a study of all their accounts to see what types of investors performed the best. They found that the best investors were the people who had either forgotten they had an account in the first place — or were dead! In other words, most investors succeed in doing the exact opposite of what they set out to do with their money (presumably, make more of it).
Some of our most peculiar mental quirks highlight just how temperamental our judgments can be. In one study, people holding heavier clipboards perceived issues as more important and more expensive than the people holding lighter clipboards. In another study, people holding a hot cup of coffee judged strangers they met as more warm and friendly than the people who were holding a cold glass of iced coffee.