People drink more wine when larger wineglasses are used. In fact, research finds wine sales increase almost 10% with larger glasses. It’s well known larger plates increase food consumption. Plate sizes have nearly doubled over the past 100 years, likely contributing to the prevalence of obesity. An even more pronounced effect has happened to stemware:…
Archive | Business
Three Kinds Of Feedback
In their book Thanks for the Feedback, Douglas Stone and Sheila Heen suggest there are three kinds of feedback: appreciation, coaching, and evaluation. A quick summary of each: One of the key insights in the book is we should be careful about providing multiple kinds of feedback at the same time, as the person receiving them might be…
Cognitive Bias in Politics
Since it’s so easy to fall prey to them, it’s no surprise cognitive biases are rampant in politics. The most common bias in politics is the confirmation basis. The confirmation bias is the tendency to look for or interpret information in a way that confirms preexisting beliefs or assumptions. We not only don’t look for…
Fictitious Promotions Work
Fictitious promotions work because people love to feel like they got a deal. In one common type of fictitious promotions, a retailer raises the price of an item just before a sale and then “promotes” the product by claiming the original price is now the sales price. The Wall Street Journal article entitled “The Dirty…
Prioritize The Big Rocks
One of the best pieces of advice I ever received was to prioritize the big rocks. The concept of big rocks is attributed to Stephen Covey, the author of the wildly-popular book ‘The 7 Habits of Highly Effective People.’ Covey points out it’s common for people to focus on easy-to accomplish little things rather than…
The Green Coffee Bean Problem
When I want to reinforce the need for critical thinking, I sometimes bring up the green coffee bean problem. In 2012, a research article entitled “Randomized, Double-Blind, Placebo-Controlled, Linear Dose, Crossover Study to Evaluate the Efficacy and Safety of a Green Coffee Bean Extract in Overweight Subjects” was published in the seemingly reputable journal Diabetes,…
Why Do People Add ‘S’ To Store Names?
Have you ever heard of Nordstrom’s? It’s a trick question. The name of the store is actually Nordstrom. There is no letter ‘s’ in the name. The same is true with Kroger and JCPenney. Even the president made the mistake with supermarket chain Meijer. So why do people add ‘s’ to store names? The most…
Chesterton’s Fence Principle
Chesterton’s fence principle can be explained as follows: Don’t take down a fence until you know the reason it was put up in the first place. In other words, don’t be so quick to tear down things you don’t understand. G.K. Chesterton was an early 20th century English writer best known for the Father Brown…
The Birthday Paradox Explained
Q: How many randomly-chosen people would need to be in the same room to virtually guarantee two of them share the same birthday? A: 75 (99.9% probability) This unintuitive answer is known as the birthday paradox. The earliest known publication of the birthday paradox was in 1939 by the mathematician Richard von Mises. However, there…
Vestigial Pattern Bias
The vestigial pattern bias explains why we get trapped by prevailing wisdom. In biology, vestigial structures are ones that have no apparent current function and appear to be left over from a past ancestor. Common examples are the human appendix, the pelvic bone of a snake, and the wings of flightless birds. In business, vestigial…