Dr. Jim Taylor

Cognitive Biases are Bad for Business

Dr. Jim Taylor — Mon, 20 May 2013 16:19:46 +0000

The conventional wisdom in classical economics is that we humans are “rational actors” who, by our nature, make decisions and behave in ways that maximize advantage and utility and minimize risk and costs. This theory has driven economic policy for generations despite daily anecdotal evidence that we are anything but rational, for example, how we invest and what we buy. Economists who embrace this assumption seem to live by the maxim, “If the facts don’t fit the theory, throw out the facts,” attributed, ironically enough, to Albert Einstein. But any notion that we are, in fact, rational actors, was blown out of the water by Dr. Daniel Kahneman, the winner of the 2002 Nobel Prize for economics, and his late colleague Amos Tversky. Their groundbreaking, if not rather intuitive, findings on cognitive biases, have demonstrated quite unequivocally that humans make decisions and act in ways that are anything but rational.

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Help When it Helps, Don’t When it Doesn’t

Dr. Jim Taylor — Mon, 20 May 2013 15:41:30 +0000

There was a wonderful article in the NY Times last week that described when it is helpful to help your [...]

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Threat vs. Challenge in Sports

Dr. Jim Taylor — Wed, 15 May 2013 19:37:36 +0000

I have found that a simple distinction appears to lie at the heart of whether athletes are able to rise to the occasion and perform their best when it really counts or crumble under the weight of expectations and tough conditions on the day of a competition: Do they view the competition as a threat or a challenge. What happens when you are threatened by something (think mountain lion). First, what direction do you want to go? Of course, you want to run away from the threat as fast as you can. Physiologically, your muscles tighten up, you hold your breath, your balance goes back, and your center of gravity rises. Psychologically, your motivation is to flee from the threat. Your confidence plummets because you don’t feel capable of confronting the situation (that’s one reason it’s a threat to you). You are focused only on protecting yourself from the threat. And, naturally, you feel fear, helplessness, and despair (because the mountain lion will eat you!). In sum, everything both physically and mentally goes against you, making it virtually impossible for you to overcome the threat and success in your sport. Where does threat come from?

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What Do Young People Say About Their Relationship with Technology?

Dr. Jim Taylor — Wed, 08 May 2013 21:02:47 +0000

To give you a sense of the scope of the effect of technology on the psychological and emotional health of [...]

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Cycling: Turn Your Negativity into Positivity on Your Bike

Dr. Jim Taylor — Wed, 24 Apr 2013 17:28:25 +0000

No two ways about it, negative thinking hurts your cycling confidence. If you’re on ascending a long and steep climb [...]

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How Do We Humans Ever Make Good Decisions?

Dr. Jim Taylor — Wed, 24 Apr 2013 14:47:14 +0000

It’s a wonder that good decisions are ever made by the species known as Homo Sapiens. The reality is that [...]

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Latest News: Taylor Comments on the Value of “Smart” Fridges

Dr. Jim Taylor — Mon, 22 Apr 2013 21:42:22 +0000

I was recently interviewed for an article about the benefits and costs of the new trend toward so-called smart refrigerators, [...]

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Psychology: What Me Worry?: Why Worrying Does More Harm Than Good

Dr. Jim Taylor — Tue, 16 Apr 2013 16:31:55 +0000

Worry is a natural part of the human condition. It has historically played a vital role in our survival and [...]

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Latest News: Taylor Inks New Book Deal

Dr. Jim Taylor — Mon, 15 Apr 2013 20:48:29 +0000

I am pleased to announce that I have just signed a contract to be the editor of a new textbook [...]

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Ski Racing Imagery: Your Most Powerful Mental Tool

Dr. Jim Taylor — Mon, 15 Apr 2013 20:32:27 +0000

Note: This article is another encore presentation of an article that never gets old. If you do anything to work [...]

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