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Ebola: The dark side of globalization — Trond Undheim

From Fortune As upcoming goals, the United Nations should enact basic sanitation, healthcare and governance in failed or collapsing states not simply because of moral concerns, but because of our own safety concerns. You would think we would have learned to deal with globalization by now. Goods, services, people, and money, and occasionally, diseases, flow across borders at a staggering pace. Little can stop these flows. Not walls. Not presidents. Not health authorities. People, however, remain quite rooted in their local communities. So rooted that when a global health scare comes along, we only react when somebody we know, in our country, or somewhere we know well, is affected. Most people’s identity is local, not global, and not even international. Perhaps we should be glad. It gives focus. We attend to what is near. Perhaps, therefore, most of us underestimated Ebola. In Norway, nobody reacted when a nurse on volunteer duty … Read More »The post Ebola: The dark side of globalization — Trond Undheim appeared first on MIT Sloan Experts.  Read the full post >

Retail industry pricing psychological warfare — Ozalp Ozer

From Fortune China Have you ever been shopping and found a great jacket with a perfect fit? Then you look at the price tag and pause. Should you buy that perfect item now or wait to see if it’s still available during the inevitable end-of-season sale? What if the store told you that it only had a limited number left, or only had two on the rack in your size? In a recent study I conducted with Prof. Karen Zheng, we found that as consumers have become more strategic about purchases, behavioral motives like regret and availability misperception are significant factors and should play a key role in pricing strategy. Regret happens when consumers compare the outcome of a chosen action with that of the unchosen one and realize they would have been better off with the latter. In other words, they may regret buying the jacket now at the … Read More »The post Retail industry pricing psychological warfare — Ozalp Ozer appeared first on MIT Sloan Experts.  Read the full post >






 

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