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If you ever go bar hopping, who do you want to take with you? You want a slightly uglier version of yourself. Similar ... but slightly uglier.
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
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More quotes by Dan Ariely
The experiments show quite clearly that, as you resist more and more temptation, you're actually more and more likely to fail.
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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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The problem with opportunity cost is that opportunity cost is divided among many, many things.
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The things that motivate us are to help other people, to feel that we're useful, to feel that we're getting better, to feel that we are kind of living to our potential, to get a sense of meaning. All of those things are positive.
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Honesty is a complex and tricky thing, and we don't want to be honest all the time.
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We should teach the students, as well as executives, how to conduct experiments, how to examine data, and how to use these tools to make better decisions.
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Money is all about opportunity cost. Every time you spend on something, that's something you can't spend on something else.
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I think we could get people to both be more productive and happier. We're less productive as individuals. We're less productive as companies, and we're more miserable.
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Money are very difficult to think about. So, we think about money as the opportunity cost of money. So, we at some point went to a Toyota dealership and we asked people, what will you not be able to do in the future if you bought this Toyota?
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Companies, however unintentionally, choke the motivation out of their employees.
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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.
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I don't think we should go around life and being miserable all the time and feel the pain of paying. It's a question of what categories we want to spend more on and what categories we want feel that we are spending too much on and we want to cut down.
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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 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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People are irrational - and predictably so.
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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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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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One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.
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The people that lend you money basically give you an answer based on the risk that they are willing to take. But just because a bank is willing to take a particular risk doesn't mean that that is the right amount for me to spend.
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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.
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