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Good read - behavioral economics applied to spending

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  • Good read - behavioral economics applied to spending

    Hi all -

    About halfway through a book that I think many on this forum would find interesting:

    Dollars and Sense by Dan Ariely - he's an academic behavioral economist with a gift for explaining research in the field in an accessible and entertaining way.

    This book is all about systematic cognitive biases & errors that humans have and how these biases & errors affect spending.  And how marketers (and others) use these biases to influence our spending.   Really fascinating stuff.

    Interesting thoughts about things like credit cards - by separating consumption and payment in time, credit card companies take away the pain we feel when we spend and thus people spend more.

    Lots of other topics to noodle over.

    I'm glad none of these cognitive biases affect me!