Tag: Airbnb

What’s the Price of Trust?

Trust is important in economies for reducing the cost of trade. But the marketplace has been a place where a few bad actors have driven down the general social level of trust. Behavioral economist Dan Ariely & some other researchers set out to measure how much trust people have in the market. They set up

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Seeing Red: 7 Ways to Overcome Your Confirmation Bias

Imagine driving down the highway, and suddenly a red flash cuts you off and zooms recklessly ahead, quickly disappearing in the distance. You think to yourself, “What a jerk! Thinks he doesn’t have to obey rules…he’s going to kill somebody! It figures he’s in a red Porsche…” And from that point you draw a conclusion

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