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Linking financial element to energy consumption I think has a huge role if you think about a display instrument that could teach us about what we are using, how much it costs us, how much it is saving, and therefore change our 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
Thinking
Roles
Instruments
Huge
Decisions
Linking
Decision
Using
Consumption
Teach
Financial
Display
Energy
Elements
Costs
Change
Role
Instrument
Much
Therefore
Element
Think
Cost
Saving

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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 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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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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We are all far less rational in our decision-making than standard economic theory assumes. Our irrational behaviors are neither random nor senseless: they are systematic and predictable. We all make the same types of mistakes over and over, because of the basic wiring of our brains.
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Once we start thinking of ourselves as polluted, there is not much incentive to behave well, and the trip down the slippery slope is likely.
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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 don't know what exactly the translation is but when we do consume something now, something else has to give at some point.
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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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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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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.
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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.
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People are irrational - and predictably so.
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In life we encounter many people who, in some way or another, try to tattoo our faces.
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that when given the opportunity, many honest people will cheat.
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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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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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Giving up on our long-term goals for immediate gratification, my friends, is procrastination.
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Motivation, basically getting people to be happy at work, everybody - everybody benefits.
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...[D]ivision of labor, in my mind, is one of the dangers of work-based technology. Modern IT infrastructure allows us to break projects into very small, discrete parts and assign each person to do only one of the many parts. In so doing, companies run the risk of taking away employees' sense of the big picture, purpose, and sense of completion.
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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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