On availability heuristics, the world bank and imf, and us higher education

Availability Heuristics Human beings and even experts appear to have a relative short memory on even recent history, and project the immediate outcomes to future. Availability heuristic operates with a vengeance. This happens with financial markets. Stock market goes up, goes up more, and goes up even more — and we start believing that going Read More …

Latitude of quantity acceptance: Conceptualization and empirical validation

Introduction As a result of increasing costs, consumer packaged goods companies (i.e., fast moving consumer goods (FMCG) companies) are facing significant pressure on operating margins. For example, the increasing cost of raw material resulted in a steep decline of almost 50 percent in operating profit margins in the second quarter of 2010 for Britannia (Economic Read More …