Mental Model by Joshua Kennon

Mental Model: The Illusion of Choice

Mental Model: The Illusion of Choice I found myself in a situation today that illustrated the powerful concept of a specific mental model known as the illusion of choice.  This theme, of course, is familiar to anyone who has watched The Matrix trilogy, from the scene wherein the architect explains that the key to keeping…

Mental Model by Joshua Kennon

Mental Model: Veblen Goods

Mental Model: Veblen Goods In today’s installment of our mental models catalog, we are going to discuss Veblen goods, which are a special type of item that would appear, at first glance, to violate the law of supply and demand relationships to prices. Veblen goods are a type of commodity, product or service for which…

Mental Model by Joshua Kennon

Mental Model: The Dunning–Kruger Effect

Mental Model: The Dunning–Kruger Effect Have you ever wondered why some people come to erroneous conclusions despite all the counter evidence, overestimate their abilities, and constantly make mistakes whereas other, more intelligent people often claim ignorance and throw things on the “too hard” pile? The reality is that not everyone in a given population can…

Free Time By Generation

Congratulations – You Have 5 Hours More Per Week Than Your Parents (and 40 More Hours Than Your Great Grandparents)

John Robinson of the University of Maryland and Geoffrey Godbey of Penn State University have done research showing that “Americans now have more free time than at any point in the nation’s history.” They calculate that since 1960, the average American has gained 5 hours of free time per week even after adjusting for women entering the work force.