Tag: ryan-sager
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Corrections and When They Work
A correction only serves its purpose (to correct our falsely-held beliefs) if we are predisposed to believe the correction itself. If we disagree with the correction, however, it instead acts to actually reinforce our incorrect beliefs (the “backfire effect”). That’s the conclusion drawn from research conducted by Brendan Nyhan, looking at how we avoid cognitive…
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The Deadweight Loss of Gift Vouchers
Of the $92 billion spent on gift vouchers in the U.S. last year, $6 billion was lost to fees and unused cards. In response to this, the U.S. Credit Card Act now bans fees on vouchers that have been dormant for less than 12 months and expiration dates of less than five years from the…