Why We Spend Coins Faster Than Bills
Economists at Haas Berkeley did a series of experimentation (Denomination Effect) that showed people were much more willing to spend the same sum of money if they had smaller denominations instead of one large bill.
..experiment involved Raghubir standing outside a gas station in Omaha. She would have people fill in a survey about gas usage and then thanked them with either a $5 bill, five $1 bills or five $1 coins. People went into the store, and when they came out Raghubir asked them for their receipts. The ones with coins spent the most, people with dollar bills a little less. And people with one $5 bill kept that one in their pockets. – more
How David Beats Goliath (and Underdog break the Rules)
Great piece of insight by Malcolm Gladwell – read it here
Investors Pay Business Plans Little Heed, Study Finds
Researchers found that venture capitalists, who screen hundreds or thousands of solicitations each year, pay little or no heed to the content of business plans. Instead, the study said, because they make decisions “under conditions of high uncertainty,” venture capitalists rely on instinct and their expertise in ferreting out information by other means to evaluate the prospects of a business. – more
Aside, are you surprised with this finding? If yes, you shouldn’t be (but that doesn’t mean you shouldn’t prepare a business plan).
Recommended Read: Demystifying a Business Plan – What makes one stand out from the rest?
Smartphones as appliances: Different phones for different usages
Good summary of Smartphone usage (Rubicon consulting) – link
Some of the TED videos are available in Hindi, Bengali, Tamil and Telugu.
Watch Nandan Nilekani’s talk at TED:
Also read: TED is coming to India
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