Category Archives: satisficing vs optimizing

My Rules for Creating a Solid Financial Future

Yesterday’s (5/17/08) New York Times featured an article by Ron Lieber titiled, “Five Basics for Building a Solid Financial Future.”) This reminded me of other “summary rules” posts I’ve seen, most notably the two below: http://www.thesimpledollar.com/2007/11/29/everything-you-ever-really-needed-to-know-about-personal-finance-on-the-back-of-five-business-cards http://blog.mint.com/blog/finance-core/three-principles-of-personal-finance-all-you-need-to-know-for-financial-success . After thinking … Continue reading

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You always want to try to get the best deal, right? NOT!

On the face of it, it sounds like trying to get the best deal is a good thing. Who wouldn’t want to get the best possible product for the least possible price? But economic theory and psychology research show that … Continue reading

Posted in economics, psychology, satisficing vs optimizing, spending | 5 Comments