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February 08, 2012

Amazon to open real-world store this year: report

Amazon doesn’t need any PR bumps, but let’s give it one anyway, shall we?

A_com_logo_RGBMy favourite Amazon story goes like this: one weeknight in 2010, I caught a late-night showing of The Social Network. Certainly, it was the year’s best movie, and so inspired was I that I came home and said, Hey, I oughtta read the book that was made from.

So sometime after midnight, well into the a.m., I placed an order for Ben Mezrich’s “The Accidental Billionaires.” Before the end of the next work day, it was at my door.

I’m not a paid Amazon advocate, just a fan of its convenience. So why, then, would a service as punctual as the web retailer actually open its own bricks-and-mortar store?

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Posted at 12:36 PM in Consumer news, Current affairs, Shopping | | Comments (0) | TrackBack (0)

January 25, 2012

Why it's so tough to be a decent investor

How investors go about making decisions when the going gets rough can have long-lasting implications, especially with bias and emotion working overtime.

AdThe field of behavioural finance has shown that most of us can’t be counted on to take the most logical, rational route when it comes to money.

We’re overconfident and short-sighted. We tend to overreact to information, sell too soon and hold on to losers too long. The list goes on and on.

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Posted at 08:51 AM in Behaviour, Personal finance, Science | | Comments (1) | TrackBack (0)

December 20, 2011

When it comes to risk, things aren't always as bad as they seem

The world sure looks scary. The television bombards you with so many images of European economic chaos, disaster and mishap that you hardly even want to come out of your cave.

AdBut things may not be that bad, says former journalist David Ropeik in his recent book How Risky is it, Really?

The way we perceive danger is driven far more by rapid, emotional responses than by any reasoned calculation of actual risk, he maintains, pointing to the brain’s risk assessment system and how it can result in gaps between perception and fact.

Basically, we're wired to act now, think later. Our subconscious mind and instincts shape our basic attitudes and decisions long before you have all the facts at hand, forming a “perception gap” between facts and fear.

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Posted at 11:01 AM in Behaviour, Science | | Comments (2) | TrackBack (0)

December 15, 2011

Would you consider being a human guinea pig?

Live near a hospital or university? Have you ever thought of signing up for an experiment or research study?

AdThere are many good reasons to volunteer to participate in such experiments: the advancement of science, help with personal medical issues, the opportunity to help future generations and, it seems, the chance to pick up a bit of cash.

Often, research facilities will post studies where participants can earn anywhere from $25 to $250, more if the trial is ongoing. At the very least, sponsors will cover travel and parking and recruiters often pay for referrals, generally in the form of a gift card.

And there's no shortage of activity, in both Toronto and Montreal, at least. And recruiters seem to track the entire country.

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Posted at 10:12 AM in Behaviour, Personal finance, Science, Unemployment | | Comments (7) | TrackBack (0)

November 30, 2011

Is working out at the 'brain gym' really worthwhile?

After forgetting his PIN number twice in the same week one of my friends has decided his brain is just a bit out of shape.

AdHis solution? Spending several hours on Lumosity, a brain-training program that includes close to 40 games and exercises aimed at sharpening memory skills, improving concentration and thinking faster.

And he's not alone, it seems. Some 14 million people around the world either subscribe to the company's website or have downloaded one of its iPhone apps.

Just as you can tone up your body by lifting weights, the types of games that Lumosity and its competitors like MindSparke and Posit offer are supposed to make your brain stronger and help it work more efficiently. That’s key for all those people who show signs of aging or memory loss.

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Posted at 12:09 PM in Behaviour, Consumer news, Science, Web/Tech | | Comments (0) | TrackBack (0)

November 10, 2011

How to write a persuasive message

Suppose you must write a message that you want the recipients to believe. Of course, your message will be true, but that is not necessarily enough for people to believe that it is true. It is entirely legitimate for you to enlist cognitive ease to work in your favour, and studies of truth illusions provide specific suggestions that may help you achieve this goal.

The general principle is that anything you can do to reduce cognitive strain will help, so you should first maximize legibility. Compare these two statements:
Adolf Hitler was born in 1892.
Adolf Hitler was born in 1887.

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Posted at 03:33 PM in Behaviour, Books, Marketing, Science | | Comments (0) | TrackBack (0)

Is genetic testing really worth the money?

Worried that your genes predispose you to developing diabetes or some other disease? Or maybe you’re just curious as to whether your DNA is going to give better-than-average chance of living past 90.  

AdFor prices ranging from $200 to close to $1,000, that information can be yours in a matter of days, according to a growing number of genetic-testing companies now pushing their services online.

Sites such as 23andMe, FirstMark ONC, and Navigenics merely require a small saliva sample, advertsing that their results provide information about risk factors for up to 95 diseases and predicted responses to drugs.

The sites suggest that worried consumers will benefit through better understanding their health risks, leading them to smarter decisions and healthier lifestyles.

But, are they worth the money? Probably not, according to a recent study in the New England Journal of Medicine. 

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Posted at 09:53 AM in Buying behaviour, Consumer news, Health costs, Science | | Comments (0) | TrackBack (0)

October 31, 2011

Why several small pleasures beat a few large ones

Researchers have found that the types of purchases we make, their size and frequency, and even the timing of that spending all affect long-term happiness.

AaaOne major finding is that spending money for an experience — like concert tickets, Spanish lessons, white water rafting — produces longer-lasting satisfaction than spending money on plain old stuff.

There are situations where having cash to spend helps, of course, including for those who become sick or disabled, another study found; for them, money matters. But that's a different kind of spending.

The enemy of happiness is adaptation, says Psyblog. Unfortunately we get used to things and they give us less pleasure; after a while we start taking them for granted.

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Posted at 03:56 PM in Behaviour, Personal finance, Science | | Comments (4) | TrackBack (0)

September 20, 2011

Drooling for dollars more than a simple expression: Study

It's not just your imagination. Thinking about money or fast cars does make your mouth water, says David Gal, an assistant professor of marketing at Northwestern University.

Car How much a person actually salivates while thinking about the good life seems to depend on their mindset at the time.

In a recent experiment, Gal randomly divided his subjects into two groups: one that felt powerless (they had to write essays about a time they had no control) and one that felt powerful (they wrote about being on top of their game).

When he exposed the subjects to various pictures, those shown pictures of money began to drool. This was especially true in those remembering the times they felt they weren’t really in control.

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Posted at 09:14 AM in Behaviour, Consumer news, Science | | Comments (0) | TrackBack (0)

September 12, 2011

Is being drunk ever an excuse for anything?

Whether it's an embarrassing text sent or breaking all those windows when the team loses the big one, it’s not hard to pinpoint something dumb you simply wouldn't do while sober.  

GlassAnd while there are lots of myths as to how alcohol affects us and what to do about it, there's really only one question: Why do people do such stupid things when they’re drunk?

University of Missouri researchers have found alcohol dulls the brain signal that warns people when they’re making a mistake, ultimately reducing self-control.

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Posted at 06:45 AM in Behaviour, Food and drink, Science | | Comments (0) | TrackBack (0)

April 04, 2011

Sleep deprived more prone to taking financial risks: Study

Casinos use lots of tricks – free booze, flashing lights and sounds, a mazelike design and using chips or electronic credits instead of cash – to inspire us to take risks with our money. 

Sleep It’s also no accident that casinos are open 24/7, that no one ever knows what time it is and that high rollers are encouraged to stay up all night long.

But most of all, they want us awake ... not alert, it seems, but awake. 

That’s because, according to a new paper out of Duke University, when it comes to evaluating the risks of winning or losing money, sleep-deprived individuals don't think straight and, aside from being grumpy and irritable, tend to be much more optimistic than their well-rested counterparts.

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Posted at 01:17 AM in Gambling, Markets, Science | | Comments (1) | TrackBack (0)

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AUTHORS
Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...

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