Index relativity, 1-21 bread-making machines and, 14-15 changing focus from narrow to wide and,19-20 controlling circles of comparison and, 19,21 dating and, 10-14, 15 dealing with problem of, 19-21 decoy effect and, 5-6, 8-15 Economist subscription offers and, 1-3, 4-6, 9-10 house purchases and, 8-9, 19 jealousy and envy springing from, 15-19 prices for various products and, 29 restaurant menu pricing and, 4 salaries and, 16-19 television pricing and, 3-4 tendency to compare things that are easily comparable and, 8-9 vacation planning and, 10 visual demonstration of, 7 relocation, anchoring to housing prices and,30-31 restaurants: with lines to get in, 36, 37 menu pricing of, 4 ordering in, 231-38; see also ordering food or drinks social norms of dating and, 75-76 robberies, 195 romantic relationships: options in, 142, 148, 150 separation of social and market norms and, 69, 75-76 see also dating royal touch, 188 Rustichini, Aldo, 76-77 S safe sex, 100-102 and willingness to engage in unprotected sex when aroused, 89, 95, 96-97, 99,107 salaries, 16-19, 88 of CEOs, 16-17, 18 co-workers' comparisons of, 16 happiness and, 17-18 and move from hourly rates to monthly pay, 80 performance-based, in education, 85 relinquishing dreams for increase in, 18-19 "save more tomorrow" mechanism and,242 willingness to risk life and, 84 see also compensation sale prices, 148-49 relativity and, 19-20 Sarbanes-Oxley Act of 2002, 204, 205-6 savings, 109-11 decline in rate of, 109-10 defeating procrastination in, 122-26 for retirement, from perspective of standard economics vs. behavioral economics, 241 "save more tomorrow" mechanism and,242 self-control credit card and, 123-26 Sawyer, Tom, 24-25, 39-40, 42-43 Schmalensee, Richard, 92 schools: soda machines at, 204 see also education second price auctions, 28n Securities and Exchange Commission (SEC), 205 self-control, 109-26 credit cards and, 123-26 decline in savings rate and, 109-10 effectiveness of external voice and, 116-17 procrastination of university students and,111-16 self-destructive behaviors, regulations on,118 self-herding, 37-38 self-reliance, 68 thinking about money and, 74-75 self-shame, debt blogging and, 122-23 sensei (martial arts master), offering pay to,71-72 sex: and likelihood of engaging in immoral behaviors, 94-95, 96, 97, 107 278
Index and preferences in "cold" vs. aroused state, 89, 94, 96, 97,106 safe vs. unprotected, 89, 95, 96-97, 99, 100-102,107 in social vs. market context, 68-69 as taboo subject for study, 92 sex education, 101 sexual arousal: decision making under, 89-102, 106-8 see also arousal Shakespeare, William, xviii-xix, 188, 232,239-40 Shampanier, Kristina, 51, 265 Shin, Jiwoong, 142-43,147, 265-66 Shin, Margaret, 169 shipping, FREE! on orders over a certain amount, 58-59, 62 Shiv, Baba, 181, 266 Shultz, Howard, 39 Sicherman, Nachum, 71-72 Silva, Jose, 114 Simonsohn, Uri, 30-31 Sinclair, Upton, 227 Skilling, Jeffrey, 219, 223 Skype account of author, theft from, 224-26 Smart Cards, 124 Smith, Adam, xx, 133, 138, 202, 214 SoBe Adrenaline Rush experiments, 184-87 social norms, 67-88 Burning Man and, 86-88 companies' relations with their customers and, 78-80 companies' relations with their employees and, 80-84 education and, 84-86 friendly requests and, 68, 70-71, 73-74,77-78 giving greater emphasis to, 87-88 market norms kept separate from, 67-69,75-76, 77-78 mere mention of money and, 73-75 mixing signals of market norms and, 69, 73-74, 75-77, 79, 214 offering to pay for Thanksgiving and, 67-68, 76 return to, once market norm is removed, 77 romantic relationships and, 69, 75-76 willingness to risk life and, 84 working for gifts and, 72-74 working under market norms vs., 69-72 social policy, power of FREE! and, 62-63 Socrates, 44 sounds, annoying, anchoring experiments with, 31-36 sports, expectations and perception of, 155-56,171 Starbucks, 37-39 moving anchor from Dunkin' Donuts to,37-39 moving up to higher price bracket at, 38,47 State Farm, 78 stereotypes, 168-71 behavior of people not part of stereotyped group affected by, 169-71 behavior of stereotyped people affected by, 168 purpose of, 168 Stevenson, Robert Louis, 98 subscription pricing, 1-3, 4-6, 9-10 superego, 203-4, 208 supply and demand: memory of previous prices and, 46-47 in standard economic framework, 45-46 surgery, 210 placebo effect and, 173-76,178, 191 price and efficacy of, 176 Sutton, Willie, 230 Sweeney, Dennis M., 213 T taste, 157-68 of beer, expectations and, 157-59, 161-62, 163-64,172 of coffee, upscale ambience and, 159-60 of Coke vs. Pepsi, 166-68 depth of description in caterers' offerings and, 164 279
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contents CHAPTER 4 The Cost of Soci
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Introduction How an Injury Led Me t
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introduction sion of a large magnes
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predictably irrational
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CHAPTER 2 The Fallacy of Supply and
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CHAPTER 3 The Cost of Zero Cost Why
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C HAPTE R 9 The Effect of Expectati
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C HAPTE R I O The Power of Price Wh
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