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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
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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
People
Pain
Means
Else
Persons
Person
Nothing
Severe
Matter
Matters
Mean
Expression
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With everything you do, in fact, you should train yourself to question your repeated behaviors.
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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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When you get a checking account, you should have a savings account, and the number for the savings account should be one off of your checking account.
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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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Motivation, basically getting people to be happy at work, everybody - everybody benefits.
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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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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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Giving up on our long-term goals for immediate gratification, my friends, is procrastination.
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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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Rainy day savings are incredibly important, because from time to time, bad things happen. And if you're not prepared for that, it's going to be really terrible.
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It was shocking to realize how many low-income Americans don't have savings accounts.
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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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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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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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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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We need to believe that we're good people, and we'll do just about anything to maintain that perception.
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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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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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