Archive for March, 2013


More Guns more risk!

Will you feel less safe in an 800 cc hatchback or a 2400 cc SUV?  My take would be the hatchback.  Will the person driving the hatchback be more cautious while driving than the driver of SUV? The answer is the driver of the hatchback. Obviously, it varies from person to person, but the risk taking tendency of a person increases while driving a SUV in comparison to that of the hatchback.

 

big-car-little-car

 

In accordance with John Adams’ theory on risk management, every individual has a specific level of risk taking capability up to which they are comfortable. If their sense of safety is increased, say by an ABS or a fancy safety feature, the risk taking capability of that individual will also increase. The safer we feel, the more risky our behavior tends to be.

 

Obviously, this doesn’t mean that we should not buy the SUV if we can and want to. But what I am trying to say is: safer cars does not imply safer roads. The legislation needs to change and the traffic safety engineering needs to be redesigned to accommodate these vagaries of human behavior, especially in countries like India.

The same phenomenon is applicable to other facets of life, for example: Guns!

 

Sahil Bansal – Check out how we manage risk in cyber security on our new blog here.

Why shouldn’t we talk about our New Year’s Resolutions?

Why do people Overshare on Facebook, Twitter?

Why are Monday mornings miserable?

Why do we like video games?

Why did Adam Lanza kill 26 innocents?

Why Indian Men Rape?

Photo courtesy: carsuk.net

The concept of Impulse buying as a marketing tool has been explored since the 1950’s. Impulse buying can happen anytime and anywhere.

soldsie

Has this ever happened to you? You look at an offer that seems so very attractive at that time that you think it would be foolishness to avoid it and hence you purchase it. After some time you realize that that purchase was not really necessary. I am sure it has happened to most of us. It is the instant gratification of that moment of making that purchase which leads us to that trap.

Social media and ecommerce has further enhanced our impulse buying tendencies. Now we can buy anytime and anywhere. Advertisements with seemingly lucrative offers are all over our emails, work pages, personal pages, social networks, in fact anything we view on the internet.

Soldsie has gone to the next level to lure consumers into impulsive buying by uniquely combining social media and ecommerce. The concept is simple. If you have something to sell, post a picture on Facebook, if a user wants it, just comment ‘sold’ and Soldsie will do the rest. The concept is very powerful.  It costs nothing to say sold and to avoid cognitive dissonance people are more likely to make the purchase once they have made a commitment in front of the world. The process is almost frictionless. Whether good or bad, Soldsie’s ‘comment commerce’ has been successful in further enhancing our tendency to buy impulsively.

Mirk(Sahil Bansal)

Why shouldn’t we talk about our New Year’s Resolutions?

Why do people Overshare on Facebook, Twitter?

Why are Monday mornings miserable?

Why do we like video games?

Why did Adam Lanza kill 26 innocents?

Why Indian Men Rape?

Photo Courtsey: CrunchBase

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