Showing results by narrator "Amit Varma" in All Categories

Never throw good money after bad. And don't be imprisoned to the past. Amit Varma and Vivek Kaul begin with a story from Vietnam and end with a musing on bad relationships, explaining the factor common to both: THE SUNK COST FALLACY. Every single day, we encounter this fallacy in our lives. Recognising it is the best way to avoid it!

There is a cost to every action of ours, and being aware of this cost helps us spend our time and money better. Amit Varma and Vivek Kaul explain the concept of OPPORTUNITY COST in the riveting episode–which is definitely worth the time you spend on it!

We often think in binaries: something either happened, or it did not. But a far better way to look at the world is through PROBABILISTIC THINKING. This is also how we should evaluate the most important decision in Mahendra Singh Dhoni's career. Listen in for the full dope!

Vivek Kaul went to Goa, ate too much and got the loosies. But why? As he explains in his conversation with Amit Varma, he made a mistake in MENTAL ACCOUNTING. This concept sheds light on a mistake we all make when it comes to money management – and much, much else.

Why do restaurants often list their more expensive items first? Why are sales such an attractive proposition? Amit Varma and Vivek Kaul explain the ANCHORING EFFECT. Understanding this is key to not being exploited – and to better decision-making.