Free Money? No Thanks!

  There’s a famous experiment, that has been repeated many times in slightly differing formats, that involves someone trying to give free money to random strangers. Sometimes they offer them the notes and try to convince them that there is no catch. Sometimes they just leave the money in clear view with a sign saying it is free. The outcomes of these experiments are always the same. The vast majority of people do not take the money. Usually they try to ignore whoever is conducting the experiment – as you might expect if someone was asking them for money. If … Continue reading

Can You Learn to Love Your Losses?

Stanley Kubrick’s movie comedy Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb was released in 1964 at a time when nuclear war was a real possibility and reason for worry. In the movie a nuclear war ultimately could not be avoided.  Fortunately, in reality, such a catastrophe has been avoided. We won’t go into the movie’s plot as it has far too many twists and turns but it contained a few strong messages. The most obvious was that people in authority, although powerful, are still human and are therefore fallible and subject to irrational behaviour. … Continue reading