Tag: Behavior

Friday, April 1st, 2011

Lessons in price discovery

Monty Python on the art of haggling Thanks to the folks at the Nudge blog for the pointer.

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Wednesday, March 9th, 2011

The price of Clapton’s magic

A couple of days ago I mused about our desire for unique objects. I pointed to research suggesting that our motivations aren’t merely market driven. It’s not just about rationally assessing the object’s resale value. A story in today’s New … Continue reading

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Monday, March 7th, 2011

The price of authenticity

For a long time I thought our lust for original, unique objects was a direct consequence of our pursuit of status. The reason Edison’s first light bulb is more valuable than any old light bulb; that people would part with … Continue reading

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Thursday, February 24th, 2011

Cheap willpower

Losing weight requires an inordinate amount of willpower. That’s why despite heavy our investments in pills, diets, exercise regimes and even the odd psychic, most of us just keep bulking up. By now, over two thirds of Americans are either … Continue reading

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Wednesday, February 16th, 2011

The price of regret

We have always suspected that people will forego material gain in order to avoid regretting their choices. For instance, experiments have repeatedly found that people who are given lottery ticket will be reluctant to change it for another ticket for … Continue reading

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Tuesday, January 25th, 2011

The Price of commitment

People use gym membership fees as commitment devices, on the assumption that paying for the gym every month will provide an effective incentive to work out to avoid wasting money. The tactic rarely works, however, as is evident at gyms … Continue reading

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