Behavioral economist Dan Ariely demonstrated the impact of “free” in an experiment that he described in Predictably Irrational. At first, participants could choose a Hershey’s Kiss for a penny or a Lindt Truffle for 15 cents. Selected by 73%, the…
A single statistic like the unemployment rate for Japan, the European Union and the U.S. can be misleading until we look more closely at what it represents.
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