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When you're in pain, tomorrow doesn't exist - just the pain - and the only thing that you want in the world is for it to go away.

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
Exist
Tomorrow
Pain
Away
Doesn
Thing
World

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The problem with opportunity cost is that opportunity cost is divided among many, many things.
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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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Thinking is difficult and sometimes unpleasant.
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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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We need to believe that we're good people, and we'll do just about anything to maintain that perception.
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Money is a wonderful invention. It lets us save, it lets us specialize, right? I couldn't be a professor if there wasn't any money. Every day I would have to raise chicken and bread and broccoli and go ahead and spend all my time trading. So, money is a wonderful mechanism.
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When it comes to the mental world, when we design things like health care and retirement and stock markets, we somehow forget the idea that we are limited. I think that if we understood our cognitive limitations in the same way that we understand our physical limitations … we could design a better world.
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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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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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A very simple bad decision is to get into debt. And that is very expensive.
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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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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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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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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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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.
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People are irrational - and predictably so.
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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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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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The real issue is, how much goodwill do you invest in the work? And goodwill is not something that we can buy with money. It's very hard to buy goodwill with money.
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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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