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behavioraleconomics.com

Key takeaways from The Three Laws of Human Behavior

By Aline Holzwarth When Isaac Newton put forth the three laws of motion more than three hundred years ago, he did something radical. It wasn’t his theories or the computations behind them that were so…

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This concept of “what are all the things I am giving up if I do X?” is known as the opportunity cost, and it’s a type of tradeoff that we often ignore.
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