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What's driving the denomination effect? First off, some consumers see large bills as more sacrosanct than a bunch of chump change. "People tend to overvalue bigger bills," says Joydeep Srivastava, a marketing professor at the University of Maryland's Robert H. Smith School of Business and a co-author of the study. "There's a psychological cost associated with spending a $100 bill that's not there with spending smaller bills." We tend to isolate the cash in our minds. Each $20 is a separate, less valuable entity than that single $100 bill. So it's easier to part...

Author: /time Magazine | Title: Want to Save Money? Carry Around $100 Bills | 3/27/2009 | See Source »

...Power is getting people or groups to do something they don't want to do," writes Leslie H. Gelb, former president of the Council on Foreign Relations, in his new book, Power Rules. It seems an aggressively simplistic thought for a member of the foreign policy priesthood. But Gelb doesn't define power merely as the use or threat of force. (In fact, he argues, wars usually occur when the creative use of power has failed.) Power is a combination of factors - military, diplomatic, economic, moral - that give a country the ability to make its way in the world. Gelb...

Author: /time Magazine | Title: Obama on the World Stage: What Power Means | 3/26/2009 | See Source »

...That's just one of the many muddles described in the newly released book Know Your Chances: Understanding Health Statistics, by Drs. Steven Woloshin, Lisa Schwartz and H. Gilbert Welch. If you think you're a smart and skeptical reader of health news and pharmaceutical ads, you may want to read this book first and then think again. (See the top 10 medical breakthroughs of the past year...

Author: /time Magazine | Title: How Not to Get Misled by Health Statistics | 3/25/2009 | See Source »

...American Medical Association is committed to reform that covers everyone with a choice of portable insurance, increases the value our nation receives from its health-care spending and enhances prevention and wellness. We need a better system for America's patients and the physicians who care for them. Nancy H. Nielsen, M.D., President, American Medical Association, WASHINGTON...

Author: /time Magazine | Title: Terror in Mumbai | 3/25/2009 | See Source »

...this respect: no posthumous prizes. They dole out their dough only to writers who will use the money to continue to write; they bestow their attention only on those who can directly benefit from a greater demand for their work. To the chagrin of aficionados of Borges and John H. Updike ’54, the list of accolades and honors in their biographies will never include the words “Nobel Laureate.” And while I agree that Borges and Updike outshone—in influence, most definitely, and in skill, most probably?...

Author: By Sanders I. Bernstein, CRIMSON STAFF WRITER | Title: Awards Should go to the Living | 3/20/2009 | See Source »

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