"We can be blind to the obvious, and we are also blind to our blindness." –Daniel Kahneman Cognitive dissonance, a psychological phenomenon first identified by Leon Festinger in 1957, refers to the ...

We analyze brokerage data and an experiment to test a cognitive dissonance based theory of trading: investors avoid realizing losses because they dislike admitting that past purchases were mistakes, ...

MOST OF US have experienced conflicting beliefs at one time or another. For instance, you know that drinking too much alcohol is bad for your health, but you pour yourself a second glass of wine ...

Behavioural finance challenges the long-held assumption that investors are consistently rational. Decades of research now ...

Do you keep second-guessing your decisions after you’ve made them? Immobilizing yourself? Berating yourself when you finally decide on something? This can be a normal albeit painful way to make ...

You've been presented with two viable options for a new career. The first option is what you've always wanted—the role sounds like a perfect fit. But the second option comes with higher pay and better ...

Perhaps you remember the story of William Miller, the Baptist preacher who predicted that Jesus Christ’s second coming would occur on Oct. 22, 1844. When the advent failed to occur as Miller foretold, ...

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