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Behavioural finance: Money illusion

Money illusion describes the tendency of people to think about money in nominal rather than in real or inflation-adjusted terms. In other words, it’s when people focus on the absolute amount of money rather than what that money can buy. The concept of money illusion was first discussed by Irving Fisher and later popularised by…

Company directors can be held legally liable for ignoring the risks from climate change

Company directors who don’t properly consider climate related risks could be liable for breaching their duty of due care and diligence, a new legal opinion has found. Although the alarm for business leaders has been sounding for some time, the release of the opinion by senior barristers and leading solicitors confirms the potential liability for…

Cracking the happiness code

Imagine holding in your hand a winning lottery ticket of $1 million. This is the ticket that will empower you to live out your dreams. You will be able to buy and do whatever you please. Life will be happy forever after. Or not? The quest for happiness reminds me of that song, “Somewhere Over…

The peaks and pitfalls of retail pop-ups

Pop-up stores are the new kid on the block as mobile short-term retail outlets have only been around in the US and UK since the 1990s. Yet pop-ups draw on long retail traditions of “here today, gone tomorrow” – think of circuses and fairs of old. Just as the fair came to town in the…

Are we building a nation of PhD baristas?

By Usman W. Chohan, UNSW Australia There is a looming fear among young people in the Australian labour market that they will not find jobs commensurate with their educational levels because they are “overqualified”. The economics suggests these apprehensions are well-founded, with 26% of young graduates in Australia being “underutilised” in 2013. Policymakers cannot take…

Are we building a nation of PhD baristas?

By Usman W. Chohan, UNSW Australia There is a looming fear among young people in the Australian labour market that they will not find jobs commensurate with their educational levels because they are “overqualified”. The economics suggests these apprehensions are well-founded, with 26% of young graduates in Australia being “underutilised” in 2013. Policymakers cannot take…

The problems with relying on the bank of mum and dad

Mamiza Haq, The University of Queensland Ask a parent how far they would go to support the financial aspirations of their children, and chances are they will say: “Yes, if I had the money I would be happy to act as a guarantor for my children to purchase a property.” Australian capital city house prices…

Bond yields and what they tell us about the economy

Sarantis Tsiaplias, University of Melbourne When the Australian Office of Financial Management borrowed A$4.25 billion for 20 years at an interest rate of just 2.865% this week, economic commentator Peter Martin called it “the deal of the century”. Governments issue bonds to raise funds to pay for general expenses and projects such as the stgelopment…

Who owns the zebra?

In the early 1960s in the US, everyone was trying to find out who owned the zebra. Without much luck. A logic puzzle that only a small percentage of the population are able to solve, we have reproduced a version of the infamous “Who owns the zebra?” problem here. Note that there’s more than one…

Invest in your masterpiece – yourself

New Philosopher magazine Love yourself. Believe in yourself. And your dreams will come true. A few decades ago, psychologists began documenting the appearance of a new personality that was showing up for therapy. Well-groomed, personable, typically successful, this social character didn’t suffer the bread and butter phobias of the past, the obsessions or hand-washing compulsions;…

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