In my experience I tend to find low-fat products labelled as "99% fat free" much more often than the equivalent "1% fat".* Why is this so? To me it seems counter-intuitive, because it reminds me of ...
What was the experiment where a person is given something and then has to share it with another person
Bob is given a bar of chocolate by the experimenter. Then he is to propose how he will share the chocolate with Emilly. If Emilly agrees with Bob's proposal, the kids will each get their share. If ...
I remember reading about a study. I forgot the actual details of it, but the gist of it was: people were asked in what situation they would prefer to live, one where they make \$100,000 dollars and ...
People may have very little hesitation in spending $3 on a coffee once a week, but when it comes to buying things online, such as virtual goods or services, they are often much more reluctant. Is ...
In the early 90s Tversky & Shafir observed several violations of rationality in human participants, in particular violation of the disjunction effect and sure-thing principle. This has lead to ...
The hold-out problem often occurs in debt-restructuring or in urban development. The hold-out problem is defined where an agent, for example a land developer, must negotiate with many lot owners and ...