Dan Ariely
Duke University
befuddled monkeys. http://bit.ly/c7DuWc we are speed venning this morning.
less attractive but similar option makes like option more attractive.
The value of the first decisions
how should people decide about buying a cup of coffee
you should have a reservation price - too much
what is the self herding version of these decisions?
compare wine to wine and beer to beer and keep these categories.
don’t want to be compared to dunkin donuts
self control: the problem and how to get over it.
really fun now, not so good for future.
not good now, really good for the future
long term not sufficiently motivating
reward substitution, replace intantible future reward with immediate reward
learn to turn off the temptation (rats and pigeons) in the hope that they get more food.
snooznloose -
in the future, everyone has patience.
Now it’s incredibly hard to wait
Hard to think more than 1 step ahead. Have to think long term if we don’t want to make these kind of mistakes.
Think about the following; to deviate from her intuition would be expensive.
So she was not willing to try something new, because it against her belief and it would cost her something.
Choice architecture - if you design an environemnt, the design has a lot to do with the outcome of the user behaviors
Not just short, but also long-term effect of influencing decisions
self-control - problems of making decisions on future, need to make short term reward - submit to a self-control problem, not a full cost benefit.
general lessons:
governed by irrational behaviors, and we’re typically blined to them
you need to do experiements.
health care; strong belief and no behavior
predicably irrational -
the upside of irrationality
dan ariely
