While reading Moneycontrol online I stumbled upon a very interesting article on Mental Accounting which in my view is a must read for everyone. The article explains about how people categories and treat money differently depending on where it comes from, where it is kept and how it is spent.
I think if one can overcome this fallacy he will have altogether different perspective on Assets, Liabilities, Income and Expenditure.
Read the full article here: Behavioral economics - Mental Accounting
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