Which is better, passion or productivity? Recently, a senior executive told me about a new technique his company was using to motivate employees. The idea was to cultivate passionate employees who believe in what they are doing with an almost religious zeal. Passionate employees, he claimed, are more likely to do a good job. Given my performance…
Have you ever noticed that you rarely see a gas station by itself? Instead multiple gas stations seem to be clustered close to each other. Wouldn’t it be better if they were more spread out? Presh Talwalkar noticed this phenomenon and used game theory to explain why it’s a rational decision for the gas stations,…
Lake Woebegone is a fictional Minnesota town on the radio show A Prairie Home Companion which is described as a place “where all the women are strong, all the men are good-looking, and all the children are above average.” Lake Woebegone may be fictional but the tendency of people to overestimate their own positive qualities and…
When I first moved to California, I had the choice of renting a 700 square foot apartment for $650 per month or an 850 square foot apartment for $550 per month. Both were in the same building. The larger and less expensive one even had a better view. I was puzzled by the bargain until…