Archive for February 6th, 2013

Ethics: This is Quantico, not Harvard, sir …

February 6, 2013

Punch line: Studies have shown that executives with military experience are less likely to be involved in fraud. 

Students and executives are trying to learn from these leaders through courses taught on a USMC base in Quantico, VA where they face intense ethical challenges.

* * * * *
QUANTICO, Va. – Sunlight was filtering through the trees as the team trudged up yet another hill to the final objective of the morning.

Capture

The mission was simple. The team was to meet with a local village priest and establish a relationship.

The plan quickly fell apart when the group realized the solemn ceremony they had been invited to was a forced “wedding” in which a bride whose hands were bound by rope was carried screaming into a tent.

Now they were faced with a choice.

(more…)

Posted in Ethics, Leadership, Marines | 2 Comments »

Gotcha: You probably paid too much … especially if you’re bad at math.

February 6, 2013

Awhile ago, we reported a study that consumers almost invariably pick 33% more stuff than a 33% price discount.

Ouch.

Consumers are notoriously bad at spotting real values. Why?

 image

According to the Atlantic ….

  • First: Consumers don’t know what the heck anything should cost, so we rely on parts of our brains that aren’t strictly quantitative.
  • Second: Although humans spend in numbered dollars, we make decisions based on clues and half-thinking that amount to innumeracy.

More specifically, here are some more ways consumers end up paying too much …

(more…)

Posted in Behavioral Economics, Mktg - Pricing | 2 Comments »