Companies pay amazing amounts of money to get answers from consultants with overdeveloped confidence in their own intuition. Managers rely on focus groups—a dozen people riffing on something they know little about—to set strategies. And yet, companies won’t experiment to find evidence of the right way forward. Quote from Dan Ariely’s column in the Harvard Business Review, [...]
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The AIG bonuses have marked a turn, for the worse — not economically but socially, or morally. The disgrace of the bonus-giving itself has been dwarfed by the populist reaction against them. Matthew Yglesias has pointed to some of the best bits from around the web — especially via this post quoting Brad DeLong on compensation reform (also [...]
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If you don’t already know about behavioural economics I’m going to give you a choice: either become familiar with it — starting now by reading the rest of this post — or stop reading and never ever come back to this blog again. I mean it – have a nice confused and misled life. If you already know this stuff, we’re chill. Maybe [...]
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