Viddy’s Reviews > Predictably Irrational: The Hidden Forces That Shape Our Decisions > Status Update
Viddy
is on page 52 of 247
Experiment with Lindt and Hershey's chocolates. Lindt selling at 15c and Hershey's at 1c, sold at ~3:1 ratio. Reducing both by a cent caused the preferred ratio to invert, approx 1:3!
Ariely wants us to believe this is irrational, because the price difference is the same and rational economics would have us choose no differently. However, the difference between 1c and free is big, I don't have to fish for money!
— Feb 05, 2024 05:11AM
Ariely wants us to believe this is irrational, because the price difference is the same and rational economics would have us choose no differently. However, the difference between 1c and free is big, I don't have to fish for money!
1 like · Like flag
Viddy’s Previous Updates
Viddy
is on page 36 of 247
Ch2 Anchoring & Adjustment or Arbitrary Cohesion.
First impressions, even if demonstrably false, correlates with future perception. "Our first decisions resonate over a long sequence of decisions."
— Feb 05, 2024 04:28AM
First impressions, even if demonstrably false, correlates with future perception. "Our first decisions resonate over a long sequence of decisions."
Viddy
is on page 20 of 247
Problem of relativity is that we consider things in terms of comparison rather than absolute. Driving 15 minutes to save $7 on a $25 pen seems more reasonable than driving the same distance to save $7 on a $455 tuxedo.
House purchases, attractiveness of partners in group settings, red herring subscription plans.
— Feb 05, 2024 04:04AM
House purchases, attractiveness of partners in group settings, red herring subscription plans.
