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Saturday, 02.04.2012 |
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| Predictably Irrational |
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Product Details
Notes
interesting book, similar to The Tipping Point or Blink
a lot of scientific experiments followed by insights
our perception is relative
adding an extra choice can make us lean toward one side
we can be primed to an initial impression, an anchor
that affects how we perceive future things
we love FREE even more than 1 cent
there's a big difference between getting paid and doing a favor
a gift might be better than a low payment
when we're in an emotional state, we don't think logically
but we think we're being rational even though we're not
self-imposed deadlines can be better
since we know that we procrastinate
we get very attached to things once we have ownership
we hate losing options even if one is clearly the best choice
expectations change our perception
we want to justify what we expect to see
higher priced medicine can seem to work better
even a placebo can work
we're still learning about the connection between the brain and body
most people will cheat a little
separating the act from cash increases the cheating
that's why corporate executives will steal money from the company
they wouldn't rob a person on the street
but psychologically, they can justify it to themselves
people will choose variety to make themselves unique
even if privately, they would choose the same as others
so in general, behavioral economics is about our irrationality
it helps to be aware of this to make more logical decisions in the future |
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