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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.

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
Function
Environment
Decision
Bigs
Make
Behavioral
Economics
Decisions
Lessons

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that when given the opportunity, many honest people will cheat.
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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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...[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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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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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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Take a brilliant, creative social scientist, without any respect for conventional wisdom and you get Ellen Langer. She is a fantastic storyteller, and Counterclockwise is a fascinating story about the unexpected ways in which our minds and bodies are connected.
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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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But because human being tend to focus on short-term benefits and our own immediate needs, such tragedies of the commons occur frequently .
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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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It was shocking to realize how many low-income Americans don't have savings accounts.
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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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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 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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Honesty is a complex and tricky thing, and we don't want to be honest all the time.
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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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The major thing that holds you back when you're trying to change a bad habit like eating, smoking, or drinking too much is your belief you are out of control.
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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 parents have college savings accounts for their kids, their kids show higher social and cognitive performance.
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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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