Category: Decision Making
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Are American Minds Coddled?
The Coddling of the American Mind, Greg Lukianoff and Jonathan Haidt‘s book, is a great read. It is full of interesting stories about where society, and universities in particular, are going wrong. I have a decent amount of sympathy with their arguments. It is important that we preserve free speech. The cost being that sometimes…
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Catalysts And Persuasion: Changing Minds
I enjoy a nice book on persuasion and Jonah Berger‘s on catalysts and persuasion is certainly one of them. (They make excellent gifts at any time of the year). His prior books were enjoyable and generally illuminating. The Catalyst follows in that tradition. (Although I do think it is funny when writing one of these…
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Do Generalists Triumph?
I am a marketing professor, who has been an accountant working in politics, and who was educated as an ancient historian. As such, it is perhaps no surprise that I am naturally drawn to the arguments in Range. In this David Epstein lays out his case for having a diverse range of skills. His argument…
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Bayes’ Theorem And Common Sense
Today we look at Bayes’ theorem and common sense highlighting the role of prior beliefs. How Should We Think About Probabilities? There is a big rift in the way people think about probabilities. (This is in addition to he normal challenges doing the math). Events either happen or they don’t. We can think of probabilities…
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Zombie Statistics & Other Advice on Dealing with Nonsense
A second post on Bergstrom and West’s enjoyable book, Calling Bullshit. They tackle the problems we face with the amount of nonsense around in the information age. The book contains much useful advice on spotting problems in black boxes and avoiding zombie statistics. You Can Spot Nonsense Even In Black Boxes I liked their advice…
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Some Advice on Calling BS
There are lots of reasons to like Bergstrom and West’s book Calling Bullshit. There is just so much BS available to anyone who wants to consume it. Calling BS is a skill we all need. Calling BS BS can pose a threat to democracy if people choose their leaders based upon things that just aren’t…
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Finding The Right Marketing Metrics
It is extremely challenging to get marketing metrics pieces published at top marketing journals. Indeed, a piece on finding the right marketing metrics isn’t a typical article. One challenge is that often journals want something “new”. Investigating what managers do doesn’t seem new enough. This is a real shame. I worry editorial decisions encourage the…
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Two-Part Tariffs and Disneyland
Interesting questions often precipitate (good) academic research. A great question is “why does Disneyland not make you pay for each ride”. This is the setup for Walter Oi’s examination of pricing back in 1971. Oi asks “If you were the owner of Disneyland, should you charge high lump sum admission fees and give the rides…
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Comparing Canadian And US Consumers
Comparing consumers in different countries can be challenging. I must confess to having doubts about a lot of cross-cultural research, see here for lots of grouchy comments on cross cultural measurement. I worry it is what nice middle class people do when they want to stereotype while still seeing themselves as free of prejudice. Suffice…
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The Problem with Lay Rationality
I haven’t written about rationality for a while but I’ll return to note a recent paper by Xilin Li and Christopher Hsee. In it they look at the impact of lay views of rationality and raise a problem with such lay rationality. It is a fun paper and, broadly speaking, I agree that their conclusion…
