Word: wheel
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Dates: during 2000-2009
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...famed meats, which range from the ordinary—chicken and pancetta—to the exotic—llama, black bear, and Brazilian python. General Manager Juliana Lyman offered a tasting of Savenor’s gourmet products: maple smoked salmon with crème fraiche on water wheel crackers, goat cheese on crusty baguette slices, and freshly seared prime rare strip steak—all washed down with Pellegrino and Poland Spring mandarin orange sparkling water. “This isn’t what they serve in your cafeteria,” laughed Lyman. The final stop...
...other day," Wagoner says, "I had a visit from a corporate executive who moved to town and bought a house." Which should be fine; a big wheel need not fear a big mortgage. But this guy's one strike was moving from Florida, where the real estate market is so screwed up that judges in one county are hearing nearly 1,000 foreclosure cases a day. Mr. Exec was stuck with his old house too, and that one was dragging him down, down - until there was nothing left to do but pay a visit to the bankruptcy attorney. " I would...
...July 13, 2007, Zachery's 41st birthday. He was working in the hazardous-materials unit, and a call came in from a local hospital: chemical spill. Normally, Zachery would have been behind the wheel of the truck, but on that day, he was acting captain, so he rode in the passenger seat. Siren blaring, lights flashing, horn honking - none of it registered with the driver of a city trash truck, who turned into the path of the speeding haz-mat unit. The crash folded the front of Zachery's vehicle, and his head spiderwebbed the windshield...
...paper written by psychologists Amos Tversky and Daniel Kahneman that was published in Science in 1974. In that paper, Tversky and Kahneman discuss an experiment in which subjects were asked to estimate the percentage of African countries represented in the U.N. Before they guessed, a researcher spun a wheel of fortune in front of them that landed on a random number between 0 and 100. People tended to pick an answer that wasn't far from the number on the wheel, even though the wheel had nothing to do with African countries...
Countless experiments over the ensuing decades have confirmed that most of us make this so-called anchoring mistake - that is, making a decision based largely on an unrelated piece of information, like a random number that appears on a wheel. Anchoring occurs all the time, like when you're asked to look at your Social Security number before answering a question (you're more likely to pick an answer close to the digits in your SSN). A team of researchers even showed in a 2003 paper in the Quarterly Journal of Economics that people will endure more physical discomfort (exposure...