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People are irrational - and predictably so.

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
Predictably
Irrational
People

More quotes by Dan Ariely

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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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What people do is they pay the small loans first. Why? Because they enjoy making the number of loans smaller. But of course it is a very ineffective way to pay debt down.
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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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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.
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When we think about labor, we usually think about motivation and payment as the same thing, but the reality is that we should probably add all kinds of things to it - meaning, creation, challenges, ownership, identity, pride, etc.
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The most difficult thing is to recognize that sometimes we too are blinded by our own incentives. Because we don’t see how our conflicts of interest work on us.
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We have very strong intuitions about all kinds of things — our own ability, how the economy works, how we should pay school teachers. But unless we start testing those intuitions, we’re not going to do better.
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Disasters are usually a good time to re-examine what we've done so far, what mistakes we've made, and what improvements should come next.
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People are willing to work free, and they are willing to work for a reasonable wage but offer them just a small payment and they will walk away.
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Thinking is difficult and sometimes unpleasant.
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The problem with opportunity cost is that opportunity cost is divided among many, many things.
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When we save, everybody in the household is just suffering. By having the coin in a visible way, when you scratch, you can say the person that is in charge of the making money for the family is doing the right thing.
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We need to believe that we're good people, and we'll do just about anything to maintain that perception.
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It is helpful to think of people as having two fundamental motivations: the desire to see ourselves as honest, good people, and the desire to gain the benefits that come from cheating - on our taxes or on the football field.
Dan Ariely
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that when given the opportunity, many honest people will cheat.
Dan Ariely
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When parents have college savings accounts for their kids, their kids show higher social and cognitive performance.
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You can think about life as a battle between you and a doughnut shop. The doughnut shop wants you to eat another doughnut and pay the money, and you want to do it in the short term, but in the long term it's not good for you either financially or from a health perspective.
Dan Ariely
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Money is a wonderful invention. It lets us save, it lets us specialize, right? I couldn't be a professor if there wasn't any money. Every day I would have to raise chicken and bread and broccoli and go ahead and spend all my time trading. So, money is a wonderful mechanism.
Dan Ariely
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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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When people are in severe pain, there's an expression, you're a pain person, and what that means is that nothing else matters.
Dan Ariely