Behavioral Economics: 10 Stupid Things We Do
1. We feel the loss more strongly than the joy of an equal gain
2. We are pleased or upset depending on the terms of the purchase rather than the usefulness of the product
We find it hard to give something up if we've already given money or effort
4. When planning a budget, we stick to strict rules, even when we don't need to
5. Sometimes we find it hard to control ourselves ("cashew phenomenon")
6. We don't want to risk what we have, even if we get it by accident
7. "Narrow Framing": We don't see the chain of events as a whole
8. We want to avoid what we think is an "unfair" proposition, even if we suffer in the process.
9. We don't always know what we like ("the phenomenon of inverted preferences")
10. "Big nuts": an amount can seem big or small depending on the context
