September 28, 2015

In the exploration of decision-making and risk, there is probably no better arena to examine than that of Gambling. Gambling is defined as “the act or practice of risking the loss of something important by taking a chance or acting recklessly.” Chance is “the absence o...

September 21, 2015

Risk is an inherent condition of life, but just how risky is life? The primary function of our brain is to make decisions that ensure our survival, so we are hardwired to avoid risky endeavors. As a result, we typically overvalue the odds of negative outcomes. Let’s co...

September 15, 2015

A Ponzi scheme is a fraudulent endeavor that pays earlier investors with the money taken from later investors; there is no actual business investment. This scheme is also known as robbing Peter to pay Paul and it was around long before its namesake, Carlo Ponzi, introd...

September 10, 2015

Last week I posted the blog Why Are We Doing This?, which touched on activities that distract us from achieving our goals and drain our resources in the process.

One example of this activity is the obsolete legacy program. We often hold on to things beyond their utility...

September 8, 2015

As Franklin D. Roosevelt said, “The only thing we have to fear, is fear itself.” We all know that fear is a formidable emotion, but why is the fear of fear such a concern? Because we exhibit avoidance reflex reaction behavior at the mere memories of being afraid. This...

August 28, 2015

There are five notable occasions when our brains rely on autopilot thinking and the biases and fallacies that come along with it:

  • When we have too little information, like meeting someone for the first time. We make assumptions based on a few data points (aka stereo...

August 26, 2015

Our brain is in essence an operating system that was designed for speed and efficiency in an unpredictable and unsafe world. We had to think fast because physical threats (invaders and predators) necessitated quick decisions for self-preservation. It doesn’t pay, survi...

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