Sunday, November 4, 2012

Predictabily Irrational

This was a very interesting book to read, once you were able to read what they were saying in a few words than so many words.  There were some things that I agreed with or thought of, but there were some that I had never really thought about.
I think with some for a $25 pen, we would drive 15 minutes to save $7, but a suit that costs 4455, we would not drive the 15 minutes to save the said $7.  I think that would be true with the small items as a pen vs a suit that costs so much more.
Assuming that something os good (or bad) on the basis of other peeople's previous behavior.  The example was a line for a restaurant is true because it seems like it is the "hot" spot.  We are always seeing celebrities at certain spots in LA, NYC, or Miami because of their excluseness.  No "average Joe or Jane" would ever be allowed in their.
We need to remember that our first decision in a long stream of decisions will have somoe sort of impact on our future decisions for years to come.  I don't like to think of my past, but at times, I would like to think about somethings that I have done in my past and if it would change.
When something is "free" we forget about the downside.  People will wait in line for absurably long times to get something for free.  Free is one of the most powerful ways to trigger behavior.  when I go and eat at Community Cafe every night, its free for those who can't afford to eat a hot meal, I am always eating everything that is put in front of me because I feel some sort of obligation because it is free food for those who are in dier need.  We are always thanking the staff for all they have done for us and we are thinking of ways to give back to them.
Social realtionships are nto easy to reestablish once a social norm is trumped by a market nor, it will rarely return.  Which is sad.  Businesses need to remember that if you want a social relationship with your customers, then you have to maintain it under all circumstances.
I agree totally with the procrastination part of the book.  I know things are due by a certain date, and I should just get it over with and not wait for the last minute and staying all night in the library to try and do something half assed, when if I started a few at a time of the paper, I wouldn't have the need to stay up all night writting a bad paper.  I do like the idea of an advance credit card that was brought up.  I would totally get one and only spend x dollars on my favorite vodka.  =)
I have fallen in love with my puppy that I won't be able to get until November 15.  I have his name picked out (Barnabus Wait for it Matthews, but Barney for short).  Just like our Love Story paper that we did earlier this semester, the more work we put into something, the more ownership you begin to feel for it.
I would totally rock the beer experiement that was brought up in the book.  I am not sure I would like the viniger in my beer, but if Ididn't know that it was in there, I may actually like it.  I guess I will have to try that some day, maybe after the final. =)

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