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 .

One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.

People are willing to work free, and they are willing to work for a reasonable wage; but offer them just a small payment and they will walk away.

In terms of the actual curriculum for management education, my own view is very simple-minded: The world is incredibly complex, it changes all the time, and we should not even hope that we could create a general model that accurately describes the world in all its possible states.

The retail industry has its own headache: it loses $16 billion a year to customers who buy clothes, wear them with the tags tucked in, and return these secondhand clothes for a full refund.

Not all debt is bad. From time to time we should get into debt when there's a good reason for that.