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Behavioral economics Quote by Dan Ariely

“One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.” quote by Dan Ariely — Download Open image

“One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.”

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Behavioral economics Bigs Decision Decision making Economics Environment Function Lessons

More by Dan Ariely

If you think of people as making decisions actively, every time we think about the cup of coffee, we say, "How much will I…

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“[..] we human beings are ready and willing to steal something that does not explicitly reference monetary value - that is, something that lacks…

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It is true that from a behavioral economics perspective we are fallible, easily confused, not that smart, and often irrational. We are more like…

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“Contrafreeloading,” a term coined by the animal psychologist Glen Jensen, refers to the finding that many animals prefer to earn food rather than simply…

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Not all debt is bad. From time to time we should get into debt when there's a good reason for that.

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“This result suggests that cheating is not driven by concerns about standing out. Rather, it shows that our sense of our own morality is…

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“ONE OF THE main differences between standard and behavioral economics involves this concept of “free lunches.” According to the assumptions of standard economics, all human decisions are rational and informed, motivated by an accurate concept of the worth of all goods and services and the amount of happiness (utility) all decisions are likely to produce. Under this set of assumptions,…

Money is all about opportunity cost. Every time you spend on something, that's something you can't spend on something else.

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The people that lend you money basically give you an answer based on the risk that they are willing to take. But just because a bank is willing to take a particular risk doesn't mean that that is the right amount for me to spend.

“Upton Sinclair once noted, “It is difficult to get a man to understand something when his salary depends upon his not understanding it.”)”

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If you get people to feel that they are putting something, that they are creating it and so on, their love for the project…

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If I gave you now, $10 as a gift, how happy would you be? Would you be happy, is the marginal $10, the best…

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More Behavioral economics quotes

It is true that from a behavioral economics perspective we are fallible, easily confused, not that smart, and often irrational. We are more like…

Image

“ONE OF THE main differences between standard and behavioral economics involves this concept of “free lunches.” According to the assumptions of standard economics, all human decisions are rational and informed, motivated by an accurate concept of the worth of all goods and services and the amount of happiness (utility) all decisions are likely to produce. Under this set of assumptions,…

“Groups have powerful self-reinforcing mechanisms at work. These can lead to group polarization—a tendency for members of the group to end up in a…

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The lesson of my field, behavioral economics, is that we need to understand the ways in which we differ from the rational human assumed…

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“Neoclassical economics has effectively insulated itself from the great advances made in science and engineering over the last 40 years. This self-imposed isolation must come to an end. For while the concepts of neoclassical economics appear difficult, they are actually quaint in comparison to the sophistication evident in today's mathematics, engineering, computing, evolutionary biology and physics. In order to advance,…

[There will be movement toward] behavioral economics... [which] involves study of those aspects of men's images, or cognitive and affective structures that are more…

Kenneth E. Boulding

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Behavioral economics can explain some things, but it's hard to explain a lot of the underlying processes that generate these decisions, much less some…

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Everyone's lost a lot of money on their 401k plans. I've heard some people calling them 201k plans. So it's even more important to…

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“In fact quite generally, commercial advertising is fundamentally an effort to undermine markets. We should recognize that. If you’ve taken an economics course, you know that markets are supposed to be based on informed consumers making rational choices. You take a look at the first ad you see on television and ask yourself … is that it’s purpose? No it’s…

“Wouldn't economics make a lot more sense if it were based on how people actually behave, instead of how they should behave?”

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January is always a good month for behavioral economics: Few things illustrate self-control as vividly as New Year's resolutions. February is even better, though,…

Sendhil Mullainathan

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How should the best parts of psychology and economics interrelate in an enlightened economist's mind?... I think that these behavioral economics...or economists are probably…

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Browse all 27 Behavioral economics quotes