derek | Shared With: Everyone - Jan 08 2009 | economics, humanity, interesting, science, experimentsBasically just a boatload of interesting stuff.
Quoted: Tversky and Kahneman conducted the following experiment
When contemplating the purchase of a $25 pen, the majority of subjects would drive to another store 15 minutes away to save $7
When contemplating the purchase of a $455 suit, the majority of subjects would not drive to another store 15 minutes away to save $7
The amount saved and time involved are the same, but people make very different choices
derek | Shared With: Everyone - Jul 25 2008 | economics, wine, tastings
derek | Shared With: Everyone - Jan 14 2007 | height, health, america, economics
derek | Shared With: Everyone - Jan 06 2007 | news, economics, capitalism, america, economy
derek | Shared With: Everyone - Sep 07 2006 | height, economics
derek | Shared With: Everyone - Mar 21 2006 | economics, us government, george w. bush
derek | Shared With: Everyone - Jan 08 2006 | economics, Starbucks, coffee, food
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