Why I Hate The Joneses

Lets clear the air from the data smog and neutralize misinformation

Why Don't Students like School by Daniel Willingham

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Uploaded By: malikabd
3 years ago
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Behavioral economics has been a burgeoning field in the last 40 years exactly because these situations are not as straightforward as they first seemed. People hate losses more than they love gains of the same amount; the bad feeling of losing $20 is more intense than the good feeling of gaining $20. People value choices not in the absolute, but relative to unimportant contextual variables; a deal that seems just okay suddenly seems much more attractive if offered as one of two options, the other of which is a much worse deal. We greatly overvalue things that we get free, which is why many of us have drawers cabinets full of promotional coffee mugs that we don’t need and are ugly, to boot.

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