Behavioural Economics Quotes

“When we were cavemen scarcity of food meant we would die fast . Hence scarcity rings alarm bells of anxiety”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“Literally, time is money. Starting to save now instead of later lessens the amount you will need to contribute.”
― Coreen T. Sol, CFA

“Most human beings are irrational most of the time & hence they have weird perceptions of usefulness”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“I don ‘t know about you but I am a minimalist . I hate unnecessary stuff because even without them, there are lots of things life throws your way to keep you busy . Hence I do not have the following
- A wife
- A vehicle
- A house ( I stay on rent )
- A fridge
- A washing machine
- A bed ( I sleep on a yoga mat )
- An air conditioner
- A servant ( Very common in Indian households )
among many other things people deem necessary for happiness”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“This proves among other things that introspection is sadly inadequate while trying to understand which product could appeal to people”
― Dharmendra Rai

“Just like beauty lies in the eyes of the beholder , usefulness lies in the brain of the user”
― Dharmendra Rai

“If someone tell you you have horns you ll laugh
if 3 ppl tell you you have horns you ll poke your hair”
― Dharmendra Rai

“People who think just focussing on the product is enough are known as product oriented rather than marketing oriented . They fall in love with their products & their unique points & think that by some invisible costless automatic phenomenon everyone in the world will know about the uniqueness of their products . Such people normally die poor”
― Dharmendra Rai , Corporate Invisible Selling Behavioural Economics & More

“If you are perceived to be first ( a uniqueness ) , you tend to be remembered”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“If you are # 2 nobody knows you & hence nobody cares about you because most industries in the world are winner takes all industries . They are happy buying products from # 1 . They don’t have time to bother about who is # 2”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“Nobody cares who was the first . People care about who they perceive as the first . If you are the first in an industry but do not make people perceive you to be the first , you might as well have not gotten out of bed”
― Dharmendra Rai , Corporate Invisible Selling Behavioural Economics & More

“If you are not perceived as unique & useful your potential will always be a cup half full”
― Dharmendra Rai , Corporate Invisible Selling Behavioural Economics & More

“Here is my practical definition of the availability heuristic
Whatever is easily available to the brain is taken as true or the only one or the best or the most significant or the most frequent et al”
― Dharmendra Rai , Corporate Invisible Selling Behavioural Economics & More

“Most people think tornadoes are deadlier than asthma though asthma causes 20 times more deaths”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“Most people estimate that accidents & diseases kill people equally . The truth is diseases are 18 times as likely as an accidental death”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“That is exactly how the brain works when it thinks of buying a product . It does not think about the best product or the cheapest product or the most value for money product but the available product or the top of the mind product”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“Most people think advertising is done for awareness .It is mostly done for “topofthemindness”
― Dharmendra Rai , Corporate Invisible Selling Behavioural Economics & More

“The availabilty heuristic may be interpreted as “ Being famous IS being persuasive”
― Dharmendra Rai , Corporate Invisible Selling Behavioural Economics & More

“Be as omnipresent as you can . Do not think of the fictional concept of over exposure – no such thing exists in a hyper competitive world”
― Dharmendra Rai , Corporate Invisible Selling Behavioural Economics & More

“Out of mind is left behind”
― Dharmendra Rai , Corporate Invisible Selling Behavioural Economics & More

“Why do people write complicated books when simple books would help more people & sell more ?”
― Dharmendra Rai , Corporate Invisible Selling Behavioural Economics & More

“Simplify or ossify”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“We are more motivated by avoiding losses than getting equivalent gains . A concept called Loss Aversion”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“Use scarcity or your profits will be scarce”
― Dharmendra Rai

“Never make it too easy for your prospects”
― Dharmendra Rai, Corporate Invisible Selling Behavioural Economics & More

“Stocks aren’t like a pair of shoes with a consistent value that you can buy on sale—the value of a business changes based on economics and its prospective earnings.”
― Coreen T. Sol, CFA

“The sheer number of new businesses that fail speaks to the optimism of entrepreneurs to wander down such a gauntlet, and their willingness to believe that norms don't apply to them. But on average, of course, they do.”
― Coreen T. Sol, CFA

“Tread carefully when making assumptions based on representativeness. If it walks like a duck and talks like a duck, it might not be a duck.”
― Coreen T. Sol, CFA

“Money illusion is also why your Uncle John still gives you $50 per year for your birthday. That's the same amount that he's given you since you were born, and it used to be a tidy sum of money back then.”
― Coreen T. Sol, CFA

“Amid the AI frenzy, humanising service isn't optional — it's essential.”
― Janna Cachola