Big Data is like teenage sex: everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it.

We can think about how we reduce the pain in paying. So, for example, credit cards are wonderful mechanisms to reduce the pain of paying. If you go to a restaurant and you are paying cash, you would feel much worse than if you were paying with credit card. Why? You know the price, there's no surprise, but if you're paying cash, you feel a bit more guilt.

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.

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.

When you're in pain, tomorrow doesn't exist - just the pain - and the only thing that you want in the world is for it to go away.

Kids don't care what party they have, right? They want cake and they want to run around. Nothing else matters. But in this escalation, all the kids want parties like their friends. So, if all the friends have an amazing, expensive party, they all want the same thing. If we all got to scale down as a coordinated effort, all the kids would have been just as happy.

We need to believe that we're good people, and we'll do just about anything to maintain that perception.