What is the sunk cost fallacy and escalation of commitment

When you ask someone to recall something from deep in their memory, watch their face — they’ll probably do something that actually helps them remember. You might do it too without realizing it. Listen as I reveal what it is and why it works. https://www.psychologytoday.com/us/blog/ulterior-motives/201110/why-do-you-close-your-eyes-remember

Have you heard of the winner’s curse or the sunk cost theory? These are strange but predictable ways our brains can trick us when we take risks — especially with money. My guest, Alex O. Imas, Professor of Behavioral Science, Economics, and Applied AI at the University of Chicago, has studied these “behavioral anomalies” with Nobel Prize winner Richard Thaler. Together they co-authored The Winner’s Curse: Behavioral Economics Anomalies, Then and Now. (https://amzn.to/48gycBj) . Listen to how these things work, because understanding these anomalies can help keep you from falling victim to them.

We’ve all had to work in groups, whether it’s a team we are assigned to at work, or a neighborhood committee or parents’ group. Sometimes they run beautifully. Often… they don’t. Why do so many groups struggle, and how can we make them more effective? Colin T. Fisher, Associate Professor of Organizations and Innovation at University College London, joins me to share insights that can help any team excel. Colin is author of the book The Collective Edge: Unlocking the Secret Power of Groups.(https://amzn.to/48WcuCT).

Whether you cook or not, at some point you find yourself in the kitchen putting food away and you run into the problem of – sometimes the plastic wrap clings to the container and sometimes it does not. Listen to hear the secret of how to get it to stick every time. https://lifehacker.com/run-a-wet-finger-across-surfaces-to-make-plastic-wrap-s-1728185077

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