Saturday, August 14, 2010

Priceless

After reading 'Priceless' by William Poundstone I am completely convinced behavioural decision theory is worth more research. So much is applicable to behavioural economics.
A particularly useful concept anchoring. Its successful use in setting damages claims in US courts is now on trial here in Australia as retailer David Jones is listed as respondent in a Supreme Court of NSW damages claim.

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