The Story of “Free!”

“Let me tell you a story that describes the real influence of FREE! on our behavior. A few years ago, Amazon.com started offering free shipping of orders over a certain amount. Someone who purchased a single book for $16.95 might pay an additional $3.95 for shipping, for instance. But if the customer bought another book, for a total of $31.90, they would get their shipping FREE! Some of the purchasers probably didn’t want the second book (and I am talking here from personal experience) but the FREE! shipping was so tempting that to get it, they were willing to pay … Continue reading The Story of “Free!”

Artificial Intelligence! Now what?

Two years ago I have done a brief introduction on Artificial Intelligence for those who just finished high school and want to get in universities (which I wrote about before, here.) If I would do it again now, I’ll do it completely different. My grasp of AI technologies and how much they emerged in our life has been widened upon the narrow view of regular AI approaches. From Google glass and wearables to Xbox One and leap motion, the hardware can deliver awesome platforms for us to implement amazing ideas into our everyday life. From start-ups and one-man-team to indie developers, we … Continue reading Artificial Intelligence! Now what?

Predictably Irrational–P2

Let’s carry on from yesterday! Yesterday’s unfinished part is colored gray. “Now you are on your second task: you’re shopping for your suit. You find a luxurious gray pinstripe suit for $455 and decide to buy it, but then another customer whispers in your ear that the exact same suit is on sale for only $448 at another store, just 15 minutes away. Do you make this second 15-minute trip? In this case, most people say that they would not. But what is going on here? Is 15 minutes of your time worth $7, or isn’t it? In reality, of … Continue reading Predictably Irrational–P2

Predictably Irrational-P1

“Let me explain with an example from a study conducted by two brilliant researchers, Amos Tversky and Daniel Kahneman. Suppose you have two errands to run today. The first is to buy a new pen, and the second is to buy a suit for work. At an office supply store, you find a nice pen for $25. You are set to buy it, when you remember that the same pen is on sale for $18 at another store 15 minutes away. What would you do? Do you decide to take the 15-minute trip to save the $7? Most people faced … Continue reading Predictably Irrational-P1

1-Min-Reading, oh ya!

Hi all! So, I have this idea recently of posting, regularly I think, some of the paragraphs I find interesting while reading some of the books. To make the reading experience of those paragraphs more enjoyable for you, I’ll try to make it as tight as possible, 1-Min-Reading. I’ll try sometimes to post the paragraphs unfinished so you can come on a day later and carry on reading from the point we stopped. The paragraphs won’t be on a particular domain, I’ll only post from the books I’m reading and really find enjoyable. I won’t go through an entire book or tackle each … Continue reading 1-Min-Reading, oh ya!