How much would you pay for a CD of your favourite album? How about if you were streaming the album instead? Despite the advantage of digital products – won’t get damaged, weightless, instantly accessible, easy to customise – people will pay considerably more for the physical version. This article explains why.
Give it a sludge
Most of us have heard of how nudges can help improve behaviour. But what about “sludges”? This Quartz article describes how, like “mini speed bumps”, sludges that make distracting tasks more difficult can be harnessed to help improve productivity.
Science of splurging
Need to get a handle on your spending? A behavioural economist lists the biggest reasons we go over budget – including the curse of mental accounting, present bias, opportunity cost neglect, and the “what the hell” effect. And did you know that six percent of us could be considered compulsive buyers?