The Decoy Effect: How You Are Influenced To Choose Without Really Knowing It
The decoy effect is defined as the phenomenon whereby consumers change their preference between two options when presented with a third option – the “decoy” – that is “asymmetrically dominated”. It is also referred to as the “attraction effect” or “asymmetric dominance effect”.
Printing’s Not Dead: The $35 Billion Fight Over Ink Cartridges
HP’s printer supplies business garnered $12.9 billion in sales last year, and the printer division overall represented 63% of the company’s profits. Here in the year 2020, proprietary ink cartridges remain important enough to spark a fight worth at least $35 billion.
The Curse Of America’s Illogical School-Day Schedule
The average start time for public high schools, 7:59, requires teens to get up earlier than is ideal for their biological clocks, meaning many teens disrupt their natural sleep patterns every school day. The world, apparently, does not revolve around parents either. Their lives also tend to be mismatched with school-day schedules.
How Much McDonald’s Franchise Owners Really Make Per Year
The food at McDonald’s has always sold like hotcakes but once the restaurant started franchising, the world began eating up the brand. But being a franchise owner isn’t as easy, or profitable, as you might think. Buying into a McDonald’s franchise is expensive, between $1 million and $2.2 million.
I Was a Warehouse Wage Slave
My brief, backbreaking, rage-inducing, low-paying, dildo-packing time inside the online-shipping machine, under conditions that were surprisingly demoralizing and dehumanizing, even to someone who’s spent a lot of time working in warehouses, which I have.
How Netflix Turned Bill Clinton’s Impeachment Into A Growth Hack
The reason we might all be using Netflix today could have a lot to do with a marketing stunt involving the grand jury testimony that got Bill Clinton impeached. Netflix’s wild bet on political scandal succeeded in almost every single way a story like this possibly could.
The Epic Rise And Hard Fall Of New York’s Taxi King
The man known as the Taxi King arrived at his 2014 holiday party in a $384,000 Ferrari, wearing a custom Italian suit. Five years later, that man, Evgeny A. Freidman, stood in a mostly empty courtroom in Albany, N.Y., as a judge sentenced him to probation for tax fraud.
What Does It Really Cost To Run A Restaurant?
Restaurants have notoriously slim margins. Irene Li, the chef and owner of Chinese-American restaurant Mei Mei in Boston, reveals just how slim they really are.
The Dark Side Of Electronic Waste Recycling
Electronics can be hazardous when disposed of improperly, and the Basel Action Network, or BAN, investigates the underground world of the e-waste trade. The nonprofit group secretly embeds trackers in discarded devices, then hands them to recyclers to see where they end up, exposing bad practices in the process.
Zoom Company Story: How Eric Yuan Defeated Skype
Chances are you’ve used some sort of video call with family, friends or even to school and most likely it’s been Zoom, the videoconference software has taken the world by storm. But in the presence of giants like Microsoft, Skype, Teams and Google Hangouts, why is everybody using Zoom?
Silicon Valley’s #MeToo Moment Didn’t Change Anything
Despite tech’s reckoning with equality over the past few years, the industry’s storied history of inequality carries on. A small sampling: Only 11% of executive positions in Silicon Valley are held by women, and women make up only 9% of partners at the top 100 venture capital firms.
The Ever-Growing Car: Why Do They Keep Getting Wider?
We all know cars getting bigger and heavier. Most of us know why they are getting bigger, too. To comply with today’s stringent crash regulations – by passing offset, side and roof impact tests, as well as those evaluating pedestrian protection performance – cars require considerable cubic metres of controllably crushable bodywork.
The Rise Of Shopify, $68 Billion In Size. How Did It Get So Big?
Shopify is the leading E-commerce platform in the United States with 23% market share and has become the second-largest platform in terms of total merchandise volume, surpassing eBay in September 2019 and just behind Amazon. The company’s stock is up more than 20 times its IPO price.
The 30 Year-Old Airline That’s Never Flown
Back in 1989, a guy by the name of Igor Dmitrovsky filed the paperwork to incorporate a small little business in the state of New York. This company would enter the metal cylinder organism transport business under the name Baltia Airlines. The airline was to fly from New York, US to St Petersburg, USSR.
I Stumbled Across A Huge Airbnb Scam That’s Taking Over London
As the short-term rental goldrush gathers pace, Airbnb empires are being rapidly scaled and monetized. This is the curious tale of a man called Christian, the Catholic church, David Schwimmer’s wife, a secret hotel and an Airbnb scam running riot on the streets of London.
What Does A Cashless Future Mean?
Operating in cash costs countries about 0.5% of their GDP every year. But cost isn’t the only incentive to move towards a cashless future. Many countries are going cashless at great speed. What are the advantages of ditching hard cash and what are the dangers?
Why I Wanted To Finish My Father’s Life’s Work
My father was among the founders of ‘Decision Science’ in the 1960s and 70s…and spent the last 10 years of his life trying to write a popular book on decision-making for the masses, something that would cement his legacy. Karen Brown recalls the pain and joy of fulfilling a deathbed promise.
The ‘Hidden Mechanisms’ That Help Those Born Rich To Excel In Elite Jobs
Sociologists Daniel Laurison and Sam Friedman have uncovered a striking, consistent pattern in data about England’s workforce: Not only are people born into working-class families far less likely than those born wealthy to get an elite job—but they also, on average, earn 16 percent less in the same fields of work.
Meet The Bag Man: 10 Rules For Paying College Football Players
How to buy college football players, in the words of men who deliver the money. These men are fans who believe they’re leveraging football success $500 or $50,000 at a time.
The Rise And Fall Of Delia’s, The Catalog That Ruled America
For a few years around the millennium, Delia’s and its direct-to-consumer catalogs were the hottest brand in the country. It was a glimpse of things to come. At its peak, 55 million copies were sent out to girls across the country every year.
The Dictatorship Of Data
Big data is poised to transform society. Yet big data also exacerbates a very old problem: relying on the numbers when they are far more fallible than we think. Nothing underscores the consequences of data analysis gone awry more than the story of Robert McNamara.