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IKEA Effect
The IKEA effect is a cognitive bias in which consumers place a disproportionately high value on products they partially created. The name refers to Swedish manufacturer and furniture retailer IKEA, which sells many items of furniture that require assembly. A 2011 study found that subjects were willing to pay 63% more for furniture they had assembled themselves than for equivalent pre-assembled items. History and background The IKEA effect was identified and named by Michael I. Norton of Harvard Business School, Daniel Mochon of Yale, and Dan Ariely of Duke, who published the results of three studies in 2011. They described the IKEA effect as "labor alone can be sufficient to induce greater liking for the fruits of one's labor: even constructing a standardized bureau, an arduous, solitary task, can lead people to overvalue their (often poorly constructed) creations." Norton, Mochon, and Ariely cited other researchers' previous work on "effort justification" which had demons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Not Invented Here
Not invented here (NIH) is the tendency to avoid using or buying products, research, standards, or knowledge from external origins. It is usually adopted by social, corporate, or institutional cultures. Research illustrates a strong bias against ideas from the outside. The reasons for not wanting to use the work of others are varied, but can include a desire to support a local economy instead of paying royalties to a foreign license-holder, fear of patent infringement, lack of understanding of the foreign work, an unwillingness to acknowledge or value the work of others, jealousy, belief perseverance, or forming part of a wider turf war. As a social phenomenon, this tendency can manifest itself as an unwillingness to adopt an idea or product because it originates from another culture, a form of tribalism and/or an inadequate effort in choosing the right approach for the business. The term is typically used in a pejorative sense. The opposite predisposition is sometimes called " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Escalation Of Commitment
Escalation of commitment is a human behavior pattern in which an individual or group facing increasingly negative outcomes from a decision, action, or investment nevertheless continue the behavior instead of altering course. The actor maintains behaviors that are irrational, but align with previous decisions and actions. Economists and behavioral scientists use a related term, ''sunk-cost fallacy'', to describe the justification of increased investment of money or effort in a decision, based on the cumulative prior investment ("sunk cost") despite new evidence suggesting that the future cost of continuing the behavior outweighs the expected benefit. In sociology, ''irrational escalation of commitment'' or ''commitment bias'' describe similar behaviors. The phenomenon and the sentiment underlying them are reflected in such proverbial images as "Throwing good money after bad", or "In for a penny, in for a pound", or "It's never the wrong time to make the right decision", or "I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Effort Justification
Effort justification is an idea and paradigm in social psychology stemming from Leon Festinger's theory of cognitive dissonance. Effort justification is a person's tendency to attribute the value of an outcome they put effort into achieving as greater than the objective value of the outcome. Theory and research Cognitive dissonance theory explains changes in people's attitudes or beliefs as the result of an attempt to reduce a dissonance (discrepancy) between contradicting ideas or cognitions. In the case of effort justification, there is a dissonance between the amount of effort exerted into achieving a goal or completing a task (high effort equalling high "cost") and the subjective reward for that effort (lower than was expected for such an effort). By adjusting and increasing one's attitude or subjective value of the goal, this dissonance is resolved. One of the first and most classic examples of effort justification is Aronson and Mills's study. A group of young women who vo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dunning–Kruger Effect
The Dunning–Kruger effect is a cognitive bias whereby people with low ability, expertise, or experience regarding a certain type of task or area of knowledge tend to overestimate their ability or knowledge. Some researchers also include in their definition the opposite effect for high performers: their tendency to underestimate their skills. The Dunning–Kruger effect is usually measured by comparing self-assessment with objective performance. For example, the participants in a study may be asked to complete a quiz and then estimate how well they performed. This subjective assessment is then compared with how well they actually performed. This can happen either in relative or in absolute terms, i.e., in comparison with one's peer group as the percentage of peers outperformed or in comparison with objective standards as the number of questions answered correctly. The Dunning–Kruger effect appears in both cases, but is more pronounced in relative terms; the bottom quartile o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Psychology Today
''Psychology Today'' is an American media organization with a focus on psychology and human behavior. It began as a bimonthly magazine, which first appeared in 1967. The ''Psychology Today'' website features therapy and health professionals directories and hundreds of blogs written by a wide variety of psychologists, psychiatrists, social workers, medical doctors, anthropologists, sociologists, and science journalists. Online presence and magazine circulation ''Psychology Today'' is among the oldest media outlets with a focus on behavioral science. Its tagline is “Here to Help” and its mission is to cover all aspects of human behavior so as to help people better manage their own health and wellness, adjust their mindset, and manage a range of mental health and relationship concerns. ''Psychology Today'' content and its therapist directory are found in 20 countries worldwide. ''Psychology Today'''s therapist directory is the most widely used and allows users to sort th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IDoneThis
I Done This is a collaboration tool to track accomplishments and to-do lists. The application is available through the website and through an email-based system. It was founded in 2011 by Walter Chen and Rodrigo Guzman as an AngelPad startup. In 2011 and 2017, the application received many productivity awards by newspapers such as Business Insider, The Next Web, and Huffington Post mentioned the I Done This app for teams as a way to track personal and collective accomplishments. Email The email Electronic mail (email or e-mail) is a method of exchanging messages ("mail") between people using electronic devices. Email was thus conceived as the electronic ( digital) version of, or counterpart to, mail, at a time when "mail" mean ... system works by replying to emails sent by the system. For example, the user will reply to a reminder email asking, "What did you get done today?" The timing and frequency of these emails can be adjusted in the profile. References Ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Basecamp (software)
37signals (formerly Basecamp before reverting to its original name) is an American web software company based in Chicago, Illinois. The firm was cofounded in 1999 by Jason Fried, Carlos Segura, and Ernest Kim as a web design company. Since mid2004, the company's focus has shifted from web design to web application development. Its first commercial application was Basecamp, followed by Backpack, Campfire, and Highrise. The open source web application framework Ruby on Rails was initially created for internal use at 37signals, before being publicly released in 2004. In February 2014, the company adopted a new strategy, focusing entirely on its flagship product, the software package also named Basecamp, and renaming the company from 37signals to Basecamp. Jason Fried and David Heinemeier Hansson have published several books under the 37signals name, and in May 2022, citing their present-day focus on both Basecamp and HEY, reverted to 37signals as their company name. History Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Application
A computer is a machine that can be programmed to carry out sequences of arithmetic or logical operations (computation) automatically. Modern digital electronic computers can perform generic sets of operations known as programs. These programs enable computers to perform a wide range of tasks. A computer system is a nominally complete computer that includes the hardware, operating system (main software), and peripheral equipment needed and used for full operation. This term may also refer to a group of computers that are linked and function together, such as a computer network or computer cluster. A broad range of industrial and consumer products use computers as control systems. Simple special-purpose devices like microwave ovens and remote controls are included, as are factory devices like industrial robots and computer-aided design, as well as general-purpose devices like personal computers and mobile devices like smartphones. Computers power the Internet, which links bil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include ''Fortune'' and ''Bloomberg Businessweek''. ''Forbes'' has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America's Wealthiest Celebrities, of the world's top companies (the Forbes Global 2000), Forbes list of the World's Most Powerful People, and The World's Billionaires. The motto of ''Forbes'' magazine is "Change the World". Its chair and editor-in-chief is Steve Fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Starlings
Starlings are small to medium-sized passerine birds in the family Sturnidae. The Sturnidae are named for the genus ''Sturnus'', which in turn comes from the Latin word for starling, ''sturnus''. Many Asian species, particularly the larger ones, are called mynas, and many African species are known as glossy starlings because of their iridescent plumage. Starlings are native to Europe, Asia, and Africa, as well as northern Australia and the islands of the tropical Pacific. Several European and Asian species have been introduced to these areas, as well as North America, Hawaii, and New Zealand, where they generally compete for habitats with native birds and are considered to be invasive species. The starling species familiar to most people in Europe and North America is the common starling, and throughout much of Asia and the Pacific, the common myna is indeed common. Starlings have strong feet, their flight is strong and direct, and they are very gregarious. Their preferred habit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rats
Rats are various medium-sized, long-tailed rodents. Species of rats are found throughout the order Rodentia, but stereotypical rats are found in the genus ''Rattus''. Other rat genera include ''Neotoma'' (pack rats), ''Bandicota'' (bandicoot rats) and ''Dipodomys'' (kangaroo rats). Rats are typically distinguished from mice by their size. Usually the common name of a large muroid rodent will include the word "rat", while a smaller muroid's name will include "mouse". The common terms ''rat'' and ''mouse'' are not taxonomically specific. There are 56 known species of rats in the world. Species and description The best-known rat species are the black rat (''Rattus rattus'') and the brown rat (''Rattus norvegicus''). This group, generally known as the Old World rats or true rats, originated in Asia. Rats are bigger than most Old World mice, which are their relatives, but seldom weigh over in the wild. The term ''rat'' is also used in the names of other small mammals that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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