#predictably irrational

[jadagul]

Started reading Robert Cialdini's Influence: Science and Practice. And it's a book drawing on social science which was written before 2010, which has it on thin ice going in. And then in the first few pages it cites (1) a study by Dan Ariely and (2) that study about the copier.

Not off to a good start!

[jerryberry208]

"Humans don't have an internal value meter that tells us how much things are worth. Rather,

we focus on the relative advantage of one thing over another, and estimate value accordingly."

Dan Ariely, Predictably Irrational

[cannonballread]

Ok so I didn’t pick this book up by choice, exactly. I work in marketing communications, and the director of my department was asked to give a presentation on behavioral economics, and I was elected to work with him on it. By work with him, I of course mean I was elected to give the presentation. But hey, here was an opportunity to learn something new and knock out another book for CBR, so everybody wins, right?

Author Dan Ariely is the James B. Duke Professor of Psychology and Behavioral Economics at Duke University and holds Ph.D.s in cognitive psychology and business administration. While he always had an inquisitive mind, he became interested in studying human behavior when he was 18, after a horrific accident left him with third-degree burns on 70% of his body and years of medical treatment. He started questioning why certain treatments were administered a certain way and came to realize that the decision was based more on emotion than science. The tension between rational behavior and how people actually react drove him to pursue the study of behavioral economics.

Read more of KimMiE’s review here

[startupiceland]

Human Biology is a digital frontier

Human Biology is a digital frontier

I wrote an op-ed piece about Human Biology is a digital frontier. If you are skeptical read this and watch this post about how CRISPR makes biology the new digital. This is just a start. I want to dig a little deeper as op-ed pieces need to be in a condensed form, I don’t have that restriction in this blog so here goes. I have been reading, thinking and obsessing over biology of late. I think our…

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[luusach-blog]

Phi lý trí (Predictably Irrational)

Phi lý trí (Predictably Irrational)

Phi lý trí (Predictably Irrational) – Khám phá những động lực vô hình ẩn sau các quyết định của con người (Tái bản lần 2) Nhà xuất bản: Lao động – Xã hội Tác giả: Dan Ariely Dịch giả: Hồng Lê – Phương Lan Năm xuất bản: 2012 Bản quyền: Alpha Books Số trang: 340 trang Khổ sách: 13×20.5 cm Trọng lượng: 490 gram Dạng bìa: Bìa mềm Giới thiệu ngắn: Phi lý trí (Predictably Irrational) – Dan Ariely Phi…

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[coverspy]

Predictably Irrational, Dan Ariely (F, 30s, brown wet hair, pink floor-length dress, using MetroCard as bookmark, A Train)

[dudizx]

Solved a problem, got $2600 & have same problem again

Ages ago (~2010), I bought my first domain with the idea to build my personal website/portfolio - petrduda.cz. The domain expired but the idea to build a portfolio didn’t disappear.

So much changed from the event - I learnt English and became a global citizen living in four countries. Last year I bought a domain again, in this time petrduda.com - but there is a problem with this domain name... Name “Petr” is not very popular globally and people keep misspelling it to “Peter” (so please, if you’ll ever have kids in this global world, think about your kids’ names deeper). 

So I was thinking how to solve it and what is the best domain name to build my portfolio - allowing me also to keep two email addresses just in case - like [email protected] and [email protected] - the domain duda.com is obviously not available.

But I found that duda.co was available so I bought it - the .co domain is getting more popular and it’s actually shorter than .com so why not. I bought the domain about 6 months ago for $10 and since that, I didn’t finish the website yet, but I made some cool business cards for myself.

The last week, two days before my birthday, someone, however, sent me an offer to buy this domain from me for $2000 (through GoDaddy). I was a pretty surprise and eventually decided to make a counter offer for $2600 - the buyer accepted it. 

So now I have an extra $2600 for .co domain but I created the same problem again with the domain name + one extra problem - what to do with the $2600?

You see, life is not easy and this is not a joke. Maybe I can buy some cryptocurrencies (I sold some bitcoins 3 months ago and the price doubled again) or invest it into p2p lending portals (getting bored of it already though) - or try something new... Anyway, this is a quite pleasant problem to solve. 

Btw did you read Predictably Irrational: The Hidden Forces that Shape Our Decisions? There is an interesting chapter how we follow suggested prices. When I was decided about the counter offer, it hit me and made me think: What is the adequate price? Why does the buyer offer so much for .co unused domain? How much is he willing to spend for this domain? Should I try counter offer $4.000? $3000? Is it worth to risk it? Why if he won’t accept it - will I lose the opportunity to sell it for such high amount?

You know, if they would offer me $500, I would be pretty happy as well as I spent just $10 to buy the domain - maybe the counter offer would be a bit higher but still. But what if I could decide for how much to sell the domain without any offer? Honestly, I would have no idea - there is the fear of decline and the excitement of opportunity to raise but I wouldn’t imagine to give it a price tag $2.000. But because someone offered it and I could see it has a value for someone else, why not to use the opportunity to raise even more and go behind my imagination (if there wouldn't be the price tag).

That’s it.

[smokedcapybara]