Disasters are usually a good time to re-examine what we've done so far, what mistakes we've made, and what improvements should come next.

Motivation, basically getting people to be happy at work, everybody - everybody benefits.

One percent of people will always be honest and never steal," the locksmith said. "Another one percent will always be dishonest and always try to pick your lock and steal your television. And the rest will be honest as long as the conditions are right - but if they are tempted enough, they'll be dishonest too. Locks won't protect you from the thieves, who can get in your house if they really want to. They will only protect you from the mostly honest people who might be tempted to try your door if it had no lock".

Imagine you have six loans, small to huge. People want to close loans and because of that, they try to pay off the small loans, but that's not the right strategy. The right strategy, of course, is to pay the loan with the highest interest rate. People make this mistake and it costs them lots and lots of money, it's a very expensive mistake because interest rates accumulate and become very, very expensive very quickly.

While we somehow understand revenge on an intuitive level between individuals, I do suspect that companies, assuming that people are rational, completely miss and underestimate the motivation people have for revenge.

But because human being tend to focus on short-term benefits and our own immediate needs, such tragedies of the commons occur frequently .

We should teach the students, as well as executives, how to conduct experiments, how to examine data, and how to use these tools to make better decisions.