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Business administration

The Option That Changes Your Choice: The Decoy Effect

The decoy effect is when a deliberately less attractive option makes another product look better. This piece explains asymmetric dominance from Huber, Payne and Puto’s 1982 study,

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Psychology

The Confidence of Not Knowing: The Dunning-Kruger Effect

Why are some people so confident even when they do poorly on a test, while experts often seem modest? This article explains the Dunning-Kruger effect and the classic study behind i

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Business administration

It Gets Cheaper the More You Make: The Experience Curve

The experience curve is the phenomenon in which the cost of making one unit falls by a fixed percentage every time cumulative production doubles. This piece covers its origins, fro

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Business administration

How to Maximize Market Opportunities Through PEST Analysis

Systematically analyzing a company's external environment is very important when developing a business strategy. One widely used tool for analyzing this external environment is PES

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Physics

The Secret of Floating Iron Ships: Archimedes' Principle

An object in a fluid is buoyed up by the weight of the fluid it displaces. This piece explains Archimedes’ principle, why buoyancy comes from pressure differences with depth, when