Philosophy 1230A/B Lecture Notes - Lecture 9: Predictably Irrational, The New York Times, Dan Ariely
13 Oct 2016
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Reading notes: ariely introduction & chapter 1. We tend to compare things with one another but also tend to focus on comparing things that are easily comparable avoid comparing things that cannot be compared easily. Introducing (-a) creates a simple relative comparison with (a), making it look better. Economist pitch for subscription/ attractiveness studies/buying house scenario. Decoy effect: once you see the decoy effect in action, you realize that it is the secret agent in more decisions than we could imagine. It even helps us to decide whom to date and, ultimately, whom to marry. We look at our decisions in a relative way and compare them locally o the available alternative. The more we have, the more we want: have to break the cycle of relativity. James b duke professor of psychology and behavioural economics. Author of ny times best seller predictably irrational.
