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people have a general tendency to stick with their current situation.
Richard H. Thaler • Nudge: The Final Edition
companies have a strong incentive to exploit behavioral biases, including availability, unrealistic optimism, and anchoring.
Richard H. Thaler • Nudge: The Final Edition
“the three bounds”: bounded rationality, bounded willpower, and bounded self-interest.
Richard H. Thaler • Misbehaving: The Making of Behavioral Economics
Their psychology was sound: people will more readily forgo a discount than pay a surcharge. The two may be economically equivalent, but they are not emotionally equivalent.
Daniel Kahneman • Thinking, Fast and Slow
Behavioral economics is demonstrating that humans don’t always act in self-interested ways, and that transactions themselves have an emotional component.
Clay Shirky • Cognitive Surplus: How Technology Makes Consumers into Collaborators
Thus, the ads mostly affected the people who were in a “deciding” mindset when those ads ran.
Richard H. Thaler • Nudge: The Final Edition
called Stickk.com that facilitates similar friendly commitments.