Title: Predictably Irrational - Wikipedia
Headings: Predictably Irrational
Predictably Irrational
Contents
Chapter summary
The Truth about Relativity
The Fallacy of Supply and Demand
The Cost of Zero Cost
Being Paid vs. A Friendly Favor
Emotion in Decision Making
The Problem of Procrastination and Self-control
The High Price of Ownership
The Effect of Expectations
The Power of Placebo
Reception
See also
Notes
References
External links

Content: FREE! gives us such an emotional charge that we perceive what is being offered as immensely more valuable than it really is." Ariely's concept of "FREE!" applies not only to monetary and quantitative costs, but also to time. We forgo some of our time when we wait in line for free popcorn or to enter a museum on a free-entrance day. We could have been doing something else at that time. Ultimately, he demonstrates how such a simple concept can be used to drive business and social policy. For example, to reduce health cost, companies could offer free regular checks. Employees would be more willing to get them at zero cost rather than paying some amount of money. Ariely recommends the consideration of the net benefits of the choices we make regarding both preference and money.