Month: February 2019

The design of options

The business of selling premium options can be tricky. The basic premise is that the buyer of those options is afforded special treatment, mostly having to do with improving the quality of their outcomes and experiences. It works because societies and its members are risk averse, as Daniel Kahneman and Amos Tversky have illustrated with […]

The meaning of services

To understand something is not to be able to define it or describe it. Instead, taking something that we think we already know and making it unknown thrills us afresh with its reality and deepens our understanding of it. ~ Kenya Hara This applies to the notion of ‘service’ – a widely used word that […]