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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.
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
Make
Tools
Students
Decision
Examine
Teach
Executives
Use
Conduct
Better
Experiments
Wells
Data
Well
Decisions
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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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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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For all of us, it's very hard to think about money, and because of that, we need help. In the same way that for all of us, it is hard to eat well, and we need some help. The poor have a particular challenge, which is that their life is actually much more complex - and they're much more complex cognitively.
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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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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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When parents have college savings accounts for their kids, their kids show higher social and cognitive performance.
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