Picking the right one
In a blog on Bloomberg View, behavioural economist and co-author of the influential book Nudge Cass Sunstein explains a thinking trap that might come into play if comparing an iPhone 6 and the 6 Plus. He says people have a tendency to focus on a standout characteristic inside the store that matters hardly at all in daily life. Those who evaluate a standard model’s features in isolation may conclude it is sufficient for their needs.
Cheap food can taste worse than more expensive food – even if it’s exactly the same, tweets economist Chris Dillow. He tells how an experiment on diners in an “all you can eat” restaurant paid $4 or $8 for an Italian buffet. Despite eating exactly the same food, diners who paid $4 for their food rated it less tasty, less satisfactory, and less enjoyable than the diners who paid $8. Makes you think.
Eye off the ball
Focusing on your finances every minute of the day doesn’t necessarily generate better results, a blog on MarketWatch says. It gives the view that for many of us, it may pay to sometimes take a “nap” rather than watching a smart phone “app” and fixating on price shifts of investments. It highlights how “bits of information” can give “a false sense of power”, and that a “nap” might help avoid that.