I was at the Frankfurt Opera with my wife on Saturday where Mozart's Don Giovanni was playing for the final time this season. We enjoyed the opera, but I saw Don Giovanni with completely different eyes than the last time I saw it about 30 years ago – back then I had not yet fully engaged with behavioural economics or behavioural living. You've heard of Don Giovanni, the rogue with all the women? In Spanish, he's Don Juan, the great seducer whose infidelity destroys not only the life of his wife, Doña Elvira, but also those of countless other women. (more...)
Posts Tagged ‘regret aversion’
Don Giovanni: A Tale of (almost) Unpunished Overconfidence
Friday, January 27th, 2012Time Bandits
Friday, June 3rd, 2011
At last, German legislation is finally addressing a plague that costs everyone a lot time and money: the fee-based telephone queue. I never understood why one is subjected to a fiddly question-answer menu only to again explain the reason for the call when once connected with a service representative. (more...)
Stop-Loss Aversion
Tuesday, May 10th, 2011
I am always astounded by the number of investors who operate in the financial markets without loss limits. Of course, planning for a stop-loss in one’s strategy means admitting the prospect of a loss at the outset, and investors are understandably reluctant to do so. (more...)
No Capitulation for the Chancellor
Tuesday, March 15th, 2011In yesterday’s post Unwonted Candour appealed to European politicians not to allow a misplaced sense of morality to prevent a reopening of the nuclear power debate because the crisis in Japan holds important lessons for policymakers. I was doubtful it would actually happen. One can therefore imagine my surprise when German Chancellor Angela Merkel announced a three-month ‘moratorium’ on extending the lifespan of the country’s ageing nuclear power plants. (more...)
Two-bedrooms, bath, kitchen – or, on second thought
Friday, February 25th, 2011My baby already has a lot of possessions for a two-month-old boy: apart from the usual baby-bed, changing table, wagon, rocker, toddler blanket, countless clothes and stuffed animals, he has his own savings account, equity-shares in a bank, a tax identification number and a passport (more...)
License to Chill
Thursday, February 10th, 2011In a taxi this morning, I couldn’t help noticing how well my driver respected the speed limits and traffic signals. He drove just under 30mph in the city, carefully observed the 15mph speed limits in traffic restricted areas, applied the brakes at the hint of a yellow light, and cruised by a radar control at the prescribed speed. ‘You knew that trap,’ I complimented the law-abiding cabbie. ‘Yeah, they nailed me here when I was a greenhorn. It cost a lot of money and a penalty point on my license,’ he murmured. (more...)
The Tyranny of Choice
Tuesday, January 25th, 2011Holiday at last – hello Africa! I have been musing over the possibilities for months. South Africa’s picturesque Cape Town stands out in my mind, although Namibia’s isolation and expansiveness also beckons; Zambia offers Victoria Falls, but the biodiversity of Botswana’s Okavango Delta is positively enchanting. I can’t decide. (more...)
Snowstorm II
Tuesday, December 21st, 2010I’ve had to shovel a lot of snow from the paths and the pavement in front of my house recently. It has been more than 20 cm deep on several days. The piles of shovelled snow at the sides of the road are already waist-high. It is back-breaking work but, as all my neighbours seem to go out shovelling at the same time each morning, we can at least support each other morally as we toil. (more...)
Regret For Hire
Friday, July 30th, 2010Whether one pays a fixed penalty or an excessive litre-price, returning a rental car with less than a full tank is an expensive exercise. For this reason, I am stubborn about stopping at a fuel station on the way to the airport, if time allows. (more...)
