In 1950, the American psychologist Joy P. Guilford delivered a lecture to the American Psychological Association (APA) calling for a scientific focus on creativity. Psychology knew little about creativity at the time. Years earlier, during WWII, the Air Force commissioned Guilford, then a psychologist at USC, to identify pilots who would respond to emergencies… read more »
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Posts Tagged: Daniel Kahneman
Framing the Election
Numbers easily fool the brain, especially when they are presented as a loss or as a gain. We buy 90 percent lean meat but walk past the section labeled 10 percent fat. Surgeries with a 15 percent death rate are scarier than ones with an 85 percent success rate. The Nobel Laureate Daniel Kahneman… read more »
Rethinking the Endowment Effect: How Ownership Affects Our Valuations
In the late 1970s economist Richard Thaler considered two scenarios. In the first, a man owns a case of good wine he bought in the late 1950s for $5 a bottle. When a wine merchant offers to buy his wine for $100 a bottle the man refuses, even though he never paid more than… read more »