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: The outcome was consistent: when faced with multiple choices, the free option was commonly chosen. With the opportunity to receive something for free, the actual value of the product or service is no longer considered. Ariely claims, "Most transactions have an upside and a downside, but when something is FREE! we forget the downside. 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.