The Problem Is That People

We Are All Far Less Rational In Our Decision-making Than Standard Economic Theory Assumes. Our Irrational Behaviors Are Neither Random Nor Senseless: They Are Systematic And Predictable. We All Make The Same Types Of Mistakes Over And Over, Because Of The Basic Wiring Of Our Brains.

We Can Think About How We Reduce The Pain In Paying. So, For Example, Credit Cards Are Wonderful Mechanisms To Reduce The Pain Of Paying. If You Go To A Restaurant And You Are Paying Cash, You Would Feel Much Worse Than If You Were Paying With Credit Card. Why? You Know The Price, There's No Surprise, But If You're Paying Cash, You Feel A Bit More Guilt.

In A World Where Everyone Is Behaving Honestly, Any Dishonesty Constitutes A Big Infraction. But, In A World Where Many People Are Behaving Dishonestly, And The News Is Filled With Stories Of Their Infractions, Even Big Infractions Can Feel Small To The Perpetrator.

I Don't Know What Exactly The Translation Is But When We Do Consume Something Now, Something Else Has To Give At Some Point.

The Retail Industry Has Its Own Headache: It Loses $16 Billion A Year To Customers Who Buy Clothes, Wear Them With The Tags Tucked In, And Return These Secondhand Clothes For A Full Refund.