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”.
The Fraught Business Of Removing And Selling Street Art Murals
Sales of street art murals in general are divisive. Artists often object to the transformation of a work they created for public enjoyment into an art object to be bought and sold. Banksy mural sales in particular attract protest.
Craft Beer Has A Diversity Problem
Dom Cook discovered craft beer by accident. A Bronx father searching for inspiration after the death of his infant son, he picked up The Search for God and Guinness, his eye drawn to “Search for God.” In 2017 Cook launched Beer Kulture, a lifestyle brand that welcomes black drinkers to the craft community.
In The Race For Cheap Airfare, It’s You vs. The Machine
Travel providers now use artificial intelligence software to re-price their offerings, sometimes dozens of times a day, to maximize revenue. For business and leisure travelers, the result is a variation of the cat-and-mouse game, where travel companies are almost always the cat.
The Highly Unusual Company Behind Sriracha, The World’s Coolest Hot Sauce
David Tran, CEO of Huy Fong Foods, shuns publicity, professes not to care about profits, hardly knows where his sauces are sold, and probably leaves millions of dollars on the table every year.
Life Under The Algorithm
Increase your output, get paid more. Wages go up with productivity. Until, it turns out, they don’t anymore. The unwinding of this agreement in recent decades, such that workers must continue to produce more without expecting it to show up in their pay stubs, has now been the subject of a good deal of discussion and debate.
Minimum Wage: A Life Full Of Difficult Choices
Despite Ontario’s recent minimum wage increase, workers are still struggling to make ends meet. Even for those who have full-time jobs, earning minimum wage means they have to make a lot of difficult choices.
The Birth-Tissue Profiteers
How well-meaning donations end up fuelling an unproven, virtually unregulated two-billion-dollar stem-cell industry. An industry has sprung up in which specialized clinics offer miracle remedies from poorly understood stem-cell products.
How Technology Is Shaping The World Of Footwear
Over the past decade, one of the best examples of where tech has flourished is the footwear industry. From self-lacing tech to cushioning systems made from tiny foam particles, brands like Nike, Adidas and others have gone all out trying to change what footwear design means.
The Lawyer Whose Clients Didn’t Exist
A well-known attorney helped land a $2 billion settlement for Gulf Coast seafood-industry workers after a BP oil rig 40 miles off the coast of Louisiana, had exploded. But who was he really representing?
The Radical Possibilities Of Not Paying Your Student Loans
For the millions of former students struggling to make their monthly payments, debt was sold to us as the cost of a better life. A growing movement poses the question: We have the numbers, so what if we just stopped?
IKEA Let Customers Pay With Their Time Instead Of Currency
For the opening of the Swedish retailer’s new outpost in Jebel Ali, a large commercial port located on the harbor of Dubai, the brand wanted to encourage shoppers to journey to the new store by allowing them to use the time it took for them to get there as currency.
How The Wealthy Hide Billions Using Tax Havens
Every year, about 70 billion dollars that the US could be using for infrastructure, law enforcement, healthcare or education is missing. It’s hidden deep within shell companies and anonymous entities in places like the British Virgin Islands. What exactly is a shell company and how does it work?
The Man Who’s Going To Save Your Neighborhood Grocery Store
American food supplies are increasingly channeled through a handful of big companies: Amazon, Walmart, FreshDirect, Blue Apron. What do we lose when local supermarkets go under? A lot — and Kevin Kelley wants to stop that.
Iceland’s Big Bitcoin Heist
With its cheap geothermal energy and low crime rate, Iceland has become the world’s leading miner of digital currency. Then the crypto-crooks showed up. The thieves weren’t robbing banks. They were stealing the presses that print digital money.
What Google Learned From Its Quest To Build The Perfect Team
Our data-saturated age enables us to examine our work habits and office quirks with a scrutiny that our cubicle-bound forebears could only dream of. New research reveals surprising truths about why some work groups thrive and others falter.
The Price Of Plenty: How Beef Changed America
Exploitation and predatory pricing drove the transformation of the US beef industry – and created the model for modern agribusiness. The industrial slaughterhouse was a triumph of human ingenuity as well as a site of brutal labor exploitation.
Remembering The Nucleon, Ford’s 1958 Nuclear-powered Concept Car That Never Was
Nearly 30 years before the Chernobyl nuclear disaster, engineers at Ford designed and made a 3/8 scale model of a car, which it said would be powered by a nuclear reactor in the trunk.
How McKinsey Destroyed The Middle Class
Consultants seek to legitimate both the job cuts and the explosion of elite pay. Rather than simply improving management, to make American corporations lean and fit, they fostered hierarchy, making management, in David Gordon’s memorable phrase, “fat and mean.”
Google And Amazon Are Now In The Oil Business
Google, Microsoft, and Amazon have been very vocal about their efforts to reduce the world’s dependence on fossil fuels. But as The Wall Street Journal has reported, these same companies are currently teaming up with fossil fuel industry to help them squeeze as much oil and gas out of the ground as possible.
How A Single Mom Created A Plastic Food-Storage Empire
The story of Tupperware is a story of innovation and reinvention: how a new kind of plastic, made from industrial waste material, ended up a symbol of female empowerment. The product ushered women into the workforce, encouraging them to make their own money, better their families, and win accolades and prizes.