Familiarity Bias vs. Ambiguity Effect

make the unknown to a known and know how to take care of my own business

Or otherwise known as reliance on old-fashioned financial institutions and outdated economic structures.  Partly, it is due to habit; partly, because of our concerns about liquidity; and partly, because we think that it is always risky to experiment with new things where we might lack…

Continue reading

Choose: wisdom or gold?

I daresay that most of us have the wish to be guests at the Banquet of Good Things and that many believe that with money/gold, this can be achieved. So, let’s say that you manage to find a genie in a bottle and he grants you a free wish.  What would you…

Continue reading