Indexrelativity, 1-21bread-making machines and, 14-15changing focus from narrow to wideand,19-20controlling circles of comparisonand, 19,21dating and, 10-14, 15dealing with problem of, 19-21decoy effect and, 5-6, 8-15Economist subscription offers and,1-3, 4-6, 9-10house purchases and, 8-9, 19jealousy and envy springing from,15-19prices for various products and, 29restaurant menu pricing and, 4salaries and, 16-19television pricing and, 3-4tendency to compare things that areeasily comparable and, 8-9vacation planning and, 10visual demonstration of, 7relocation, anchoring to housing pricesand,30-31restaurants:with lines to get in, 36, 37menu pricing of, 4ordering in, 231-38; see also orderingfood or drinkssocial norms of dating and, 75-76robberies, 195romantic relationships:options in, 142, 148, 150separation of social and marketnorms and, 69, 75-76see also datingroyal touch, 188Rustichini, Aldo, 76-77Ssafe sex, 100-102and willingness to engage inunprotected sex when aroused, 89,95, 96-97, 99,107salaries, 16-19, 88of CEOs, 16-17, 18co-workers' comparisons of, 16happiness and, 17-18and move from hourly rates tomonthly pay, 80performance-based, in education, 85relinquishing dreams for increase in,18-19"save more tomorrow" mechanismand,242willingness to risk life and, 84see also compensationsale prices, 148-49relativity and, 19-20Sarbanes-Oxley Act of 2002, 204, 205-6savings, 109-11decline in rate of, 109-10defeating procrastination in, 122-26for retirement, from perspective ofstandard economics vs. behavioraleconomics, 241"save more tomorrow" mechanismand,242self-control credit card and, 123-26Sawyer, Tom, 24-25, 39-40, 42-43Schmalensee, Richard, 92schools:soda machines at, 204see also educationsecond price auctions, 28nSecurities and Exchange Commission(SEC), 205self-control, 109-26credit cards and, 123-26decline in savings rate and, 109-10effectiveness of external voice and,116-17procrastination of university studentsand,111-16self-destructive behaviors, regulationson,118self-herding, 37-38self-reliance, 68thinking about money and, 74-75self-shame, debt blogging and, 122-23sensei (martial arts master), offeringpay to,71-72sex:and likelihood of engaging inimmoral behaviors, 94-95, 96, 97,107278
Indexand preferences in "cold" vs. arousedstate, 89, 94, 96, 97,106safe vs. unprotected, 89, 95, 96-97,99, 100-102,107in social vs. market context, 68-69as taboo subject for study, 92sex education, 101sexual arousal:decision making under, 89-102,106-8see also arousalShakespeare, William, xviii-xix, 188,232,239-40Shampanier, Kristina, 51, 265Shin, Jiwoong, 142-43,147, 265-66Shin, Margaret, 169shipping, FREE! on orders over a certainamount, 58-59, 62Shiv, Baba, 181, 266Shultz, Howard, 39Sicherman, Nachum, 71-72Silva, Jose, 114Simonsohn, Uri, 30-31Sinclair, Upton, 227Skilling, Jeffrey, 219, 223Skype account of author, theft from,224-26Smart Cards, 124Smith, Adam, xx, 133, 138, 202, 214SoBe Adrenaline Rush experiments,184-87social norms, 67-88Burning Man and, 86-88companies' relations with theircustomers and, 78-80companies' relations with theiremployees and, 80-84education and, 84-86friendly requests and, 68, 70-71,73-74,77-78giving greater emphasis to, 87-88market norms kept separate from,67-69,75-76, 77-78mere mention of money and, 73-75mixing signals of market norms and,69, 73-74, 75-77, 79, 214offering to pay for Thanksgivingand, 67-68, 76return to, once market norm isremoved, 77romantic relationships and, 69, 75-76willingness to risk life and, 84working for gifts and, 72-74working under market norms vs.,69-72social policy, power of FREE! and, 62-63Socrates, 44sounds, annoying, anchoringexperiments with, 31-36sports, expectations and perception of,155-56,171Starbucks, 37-39moving anchor from Dunkin' Donutsto,37-39moving up to higher price bracket at,38,47State Farm, 78stereotypes, 168-71behavior of people not part ofstereotyped group affected by,169-71behavior of stereotyped peopleaffected by, 168purpose of, 168Stevenson, Robert Louis, 98subscription pricing, 1-3, 4-6, 9-10superego, 203-4, 208supply and demand:memory of previous prices and, 46-47in standard economic framework,45-46surgery, 210placebo effect and, 173-76,178, 191price and efficacy of, 176Sutton, Willie, 230Sweeney, Dennis M., 213Ttaste, 157-68of beer, expectations and, 157-59,161-62, 163-64,172of coffee, upscale ambience and,159-60of Coke vs. Pepsi, 166-68depth of description in caterers'offerings and, 164279
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USA $25.95CANADA $27.95• Why do o
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contentsCHAPTER 4The Cost of Social
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IntroductionHow an Injury Led Me to
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introductionsion of a large magnesi
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introductionconfusing them. We can
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introductionAs YOU WILL see in the
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CHAPTER 2The Fallacy of Supplyand D
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the fallacy of supply and demandSaw
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CHAPTER 3The Cost of Zero CostWhy W
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the cost of zero costhas huge impli
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the cost of zero costdecision—the
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C HAPTE R 9The Effect of Expectatio
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the effect of expectationsto such c
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the effect of expectationsMina and
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the effect of expectationswill be b
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the effect of expectationsget rid o
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the effect of expectationsby changi
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C HAPTE R I OThe Power of PriceWhy
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the power of priceremoved. The thir
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the power of pricefunerals. By 1785
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the power of pricebetter. And if yo
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the power of pricethe common cold a
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the power of pricewith the same gre
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the power of priceworkouts. Both gr
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the power of pricesage on the bottl
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the power of priceis nothing "just"
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the power of priceabout placebos an
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the power of priceing wasn't silky
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CHAPTERItThe Context of OurCharacte
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The Context of OurCharacter, Part I
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