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With the right information at our fingertips, we can always make better decisions. That is one of the reasons I'm working with Tom's of Maine, in particular. For decades they've provided information about ingredients, their purpose and source.

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Dan Ariely

But because human being tend to focus on short-term benefits and our own immediate needs, such tragedies of the commons occur frequently.

Focus, Human, Immediate, Needs, Tragedies, Tragedy
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Big Data is like teenage sex: everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it.

Knows, Like, Sex, Teenage, Witty

We are all far less rational in our decision-making than standard economic theory assumes. Our irrational behaviors are neither random nor senseless: they are systematic and predictable. We all make the same types of mistakes over and over, because of the basic wiring of our brains.

Basic, Brain, Decision, Mistake, Rational, Types

One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.

Decision, Environment, Function, Lessons, Make

We all want explanations for why we behave as we do and for the ways the world around us functions. Even when our feeble explanations have little to do with reality. We’re storytelling creatures by nature, and we tell ourselves story after story until we come up with an explanation that we like and that sounds reasonable enough to believe. And when the story portrays us in a more glowing and positive light, so much the better.

Believe, Enough, Light, Reality, Ways

The major thing that holds you back when you're trying to change a bad habit like eating, smoking, or drinking too much is your belief you are out of control.

Bad, Drinking, Habit, Smoking, Trying
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