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When it comes to the mental world, when we design things like health care and retirement and stock markets, we somehow forget the idea that we are limited. I think that if we understood our cognitive limitations in the same way that we understand our physical limitations … we could design a better world.

Dan Ariely

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Dan Ariely
Age: 57
Born: 1967
Born: April 29
Economist
Pedagogue
Professor
Psychologist
University Teacher
Writer
New York City
New York
Way
Inspiration
Limited
Things
Forget
Somehow
Cognitive
Think
Idea
Mental
Healthcare
Thinking
Understand
Motivation
Limitations
Like
Comes
Physical
Markets
World
Care
Understood
Stock
Ideas
Design
Retirement
Better
Health
Limitation

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Motivation, basically getting people to be happy at work, everybody - everybody benefits.
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Companies, however unintentionally, choke the motivation out of their employees.
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It was shocking to realize how many low-income Americans don't have savings accounts.
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The problem is that people basically dangle debt in front of us. And the cost for the poor of course is much higher than for the wealthy.
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Once you break the social norm and create a new social norm, all of a sudden it can stay with us for a long time.
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If I gave you now, $10 as a gift, how happy would you be? Would you be happy, is the marginal $10, the best use of $10 you can use? Of course not. If I have you a CD, you know exactly what you are getting and you will have a value for it. So, money has lots of problems with it.
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The companies that provide debt, what do you think their goal is? Is their goal for you to fully understand the cost of your debt? No. So they're basically creating these approaches to make you feel like it is incredibly cheap or just to think about the cost per day rather the cost per year or cost for a lifetime. So debt is very simple mistake.
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Not all debt is bad. From time to time we should get into debt when there's a good reason for that.
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People are irrational - and predictably so.
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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.
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A very simple bad decision is to get into debt. And that is very expensive.
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We usually think of ourselves as sitting the driver's seat, with ultimate control over the decisions we made and the direction our life takes but, alas, this perception has more to do with our desires-with how we want to view ourselves, than with reality.
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It is very difficult to make really big, important, life-changing decisions because we are all susceptible to a formidable array of decision biases. There are more of them than we realize, and they come to visit us more often than we like to admit.
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What kind of people would be able to rationalize better than other people? Better storytellers, right? Creative people, right? Because if you're creative, you find more ways to cheat and still yourself a story about why this is okay.
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Giving up on our long-term goals for immediate gratification, my friends, is procrastination.
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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.
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