Money is a wonderful invention. It lets us save, it lets us specialize, right? I couldn't be a professor if there wasn't any money. Every day I would have to raise chicken and bread and broccoli and go ahead and spend all my time trading. So, money is a wonderful mechanism.

Dan Ariely

Categorized in : Wonderful Bread Invention

Big Data is like teenage sex: everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it.

teenage witty sex

We are all far less rational in our decision-making than standard economic theory assumes. Our irrational behaviors are neither random nor senseless: they are systematic and predictable. We all make the same types of mistakes over and over, because of the basic wiring of our brains.

decision mistake brain

One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.

environment lessons decision

Even the most analytical thinkers are predictably irrational; the really smart ones acknowledge and address their irrationalities.

irrational addresses smart

We all want explanations for why we behave as we do and for the ways the world around us functions. Even when our feeble explanations have little to do with reality. We’re storytelling creatures by nature, and we tell ourselves story after story until we come up with an explanation that we like and that sounds reasonable enough to believe. And when the story portrays us in a more glowing and positive light, so much the better.

light believe reality

The idea that you will make the right decision every time is very... by Dan Ariely

The idea that you will make the right decision every time is very unlikely.

unlikely decision ideas

One percent of people will always be honest and never steal," the locksmith said. "Another one percent will always be dishonest and always try to pick your lock and steal your television. And the rest will be honest as long as the conditions are right - but if they are tempted enough, they'll be dishonest too. Locks won't protect you from the thieves, who can get in your house if they really want to. They will only protect you from the mostly honest people who might be tempted to try your door if it had no lock".

doors long people

The major thing that holds you back when you're trying to change a bad habit like eating, smoking, or drinking too much is your belief you are out of control.

drinking smoking trying

Your immediate environment is comprised of coffee shops, supermarkets, websites, apps and all kinds of things - none of which have an interest in your long-term or short-term financial well-being.

financial coffee long

If I gave you now, $10 as a gift, how happy would you be? Would you be happy, is the marginal $10, the best use of $10 you can use? Of course not. If I have you a CD, you know exactly what you are getting and you will have a value for it. So, money has lots of problems with it.

cds problem use

Thinking is difficult and sometimes unpleasant. by Dan Ariely

Thinking is difficult and sometimes unpleasant.

difficult sometimes thinking

People are irrational - and predictably so. by Dan Ariely

People are irrational - and predictably so.

irrational people

The things that motivate us are to help other people, to feel that we're useful, to feel that we're getting better, to feel that we are kind of living to our potential, to get a sense of meaning. All of those things are positive.

get-better helping-others people

Brands communicate in two directions: they help us tell other people something about ourselves, but they also help us form ideas about who we are.

two people ideas

Companies, however by Dan Ariely

Companies, however

employee choke motivation

The most difficult thing is to recognize that sometimes we too are blinded by our own incentives. Because we don’t see how our conflicts of interest work on us.

incentives motivation inspiration

We need to believe that we're good people, and we'll do just about anything to maintain that perception.

perception believe people

The bad news is that ignoring the performance of people is almost as bad as shredding their effort in front of their eyes. Ignoring gets you a whole way out there. The good news is that by simply looking at something that somebody has done, scanning it and saying "Uh huh," that seems to be quite sufficient to dramatically improve people's motivations.

motivation eye people

Honesty is a complex and tricky thing, and we don't want to be ho... by Dan Ariely

Honesty is a complex and tricky thing, and we don't want to be honest all the time.

being-honest honesty want

Giving up on our long-term goals for immediate gratification, my... by Dan Ariely

Giving up on our long-term goals for immediate gratification, my friends, is procrastination.

giving-up procrastination long