All Posts By digimon

CONSISTENT NEGATIVE OUTCOMES DO NOT RAISE THE PROBABILITY OF A POSITIVE RESPONSE When you toss a coin in the air, the potential outcomes on landing are heads or tails. What is more, every time you toss the coin, the probability of heads or tails is 50/50. In other words, each throw stands alone as a discrete event ...

WHEN 6 IS WORTH LESS THAN 4 – AND TRAVELLING SOUTH TAKES LESS TIME THAN TRAVELLING NORTH. Nobel Prize winner, Daniel Kahnemann, a behaviour economics guru, carried out a range of experiments highlighting the irrational behaviour of human beings: Two roughly equivalent samples of respondents were shown one of two tea sets on a tray: Option 1 ...

DOES BUYING SOMETHING EXPENSIVE SAY I HAVE MADE IT? Conspicuous consumption involves the spending of money for the acquisition of luxury goods and services as a public display of economic power. Conspicuous consumption involves buying social status. Whether or not the quest for this social status is successful is another matter. Indeed, empirical evidence suggests that success ...

HUMAN BEINGS ARE NOT AT ALL GOOD AT ENTERTAINING THEMSELVES In a series of experiments in 2014 a number of sample groups were asked to entertain themselves for 6 to 15 minutes – setting aside all distractions. The first six groups studied found this very difficult indeed, with 58% rating the level of difficulty above ‘somewhat difficult’. In ...

THERE IS AN AMAZING SIMILARITY BETWEEN A MARKETER AND A HYPNOTIST After completing Honours in Psychology I studied for a Post Graduate Fellowship in Medical Hypnosis. I have the certificate to prove it. I found it interesting that so many people questioned the effectiveness of hypnosis and, in particular, the power of autosuggestion. Well, it turns out that ...