Wednesday 25 May 2011

Es gibt zwei Wege

, dass du nehmen kanst: Der erste Weg führt durch dieses Tür, weil du glaubst dass du alles gehört hast.  

Der andere Weg beginnt genau hier, genau jetzt...

Thursday 19 May 2011

The Sunk Cost Fallacy [YANSS]

The Misconception: You make rational decisions based on the future value of objects, investments and experiences.

The Truth: Your decisions are tainted by the emotional investments you accumulate, and the more you invest in something the harder it becomes to abandon it.

You can learn a lot about dealing with loss from a video game called Farmville.
You have probably heard of this game. In 2010, one in five Facebook users had a Farmville account. About 50 million people were still playing in early 2011 – still impressive considering the fantasy megagame World of Warcraft boasts about a quarter as many players.

So, it must be really, really fun. A game with this many players must promise potent, unadulterated joy, right? Actually, the lasting appeal of Farmville has little to do with fun. To understand why people commit to this game and what it can teach you about the addictive nature of investment, you must first understand how your fear of loss leads to the sunk cost fallacy.