Contemplating Change and Sunk Costs

The phenomenon of the “sunk-cost” bias or fallacy is often discussed in the context of investing behaviors to refer to a mindset where we hang on to a perpetually under-performing investment as a result of our attachment to and focus upon the amount we paid for it. Our brain instinctively focuses not on the stock’s[…]

Industrial psychology, small businesses, & startups

Have you contemplated a different path? What does industrial psychology have to do with startups, small businesses, and entrepreneurship? Quite a bit, especially when industrial psychologists are starting their own businesses. Our panel at SIOP17 (session 198) includes expert advice from psychologists who are starting or have started their own businesses, featuring: Psychobabble, Quantum Improvements Consulting,[…]