...1. Source: book, Predictably Irrational, by Dan Ariely: pp. 4. Passage: “One thing Rapp has learned is that high-priced entrees on the menu boost revenue for the restaurant－even if no one buys them. Why? Because even though people generally won’t buy the most expensive dish on the menu, they will order the second most expensive dish. Thus, by creating an expensive dish, a restaurateur can lure customers into ordering the second most expensive choice (which can be cleverly engineered to deliver a higher profit margin).” What works: First describe a seemingly self-contradictory phenomenon to arouse interest. Then, by asking “Why?” for the reader, the author naturally gives out the reason that resolves the puzzle. Using it: I can use rhetoric questions to let readers think for themselves first, and then offer my own reason. 2. Source: book, Predictably Irrational, by Dan Ariely: pp. 17. Passage: “The result? Now the average CEO makes about 369 times as much as the average worker－about three times the salary before executive compensation went public.” What works: Using a precise number “369 times” to make a dramatic effect on the polarity of income. The number is really eye-catching, and straightly conveys a sense of sarcasm. Using it: If I want to show the scale of something, I can use exact numbers to impress the reader. 3. Source: A little faster, George? From The Economist, March 9th 2013: pp. 11. Passage: “Over the past 170 years this newspaper has tracked...
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...enters behavioral economics. Humans are rational beings, but not predictably. Ariely begins by affirming that humans think in relative measures. It is much easier to compare and contrast alternatives, which are familiar to us. The first chapter on relativity aptly shows limitations in judgment when faced with similar alternatives and the effect of a decoy. It seems his experiments suggest it is easier and more compelling for humans to compare 2 things, to keep a narrow focus and deliberately block out cofounding factors or scenarios. From his conclusions I learnt it is crucial to keep decision options simple, identify decoys and be able to introduce or break the cycle of relativity depending on your objective. The concept of supply and demand is fundamental in economics and remains the backbone of a market economy. However goods of ostentation as shown by the example of the pearl used by Dan Ariely defy this concept. He however goes further to show that “anchors” could be used to attribute any price to about anything. I contend that in developing economies, where a larger part of the market is still trapped at the bottom of the Maslow’s hierarchy of needs, the contribution of goods of ostentation is smaller. Anchors will still be relevant however “need” would drive demand more than anything else. The interaction between social and market norms were also skillfully demonstrated by Mr Ariely. In the healthcare environment this is particularly important during daily interactions...
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...THE NEW ECONOMICS in the SPECIAL ISSUE NEW WORLD The End of Rational Economics Your company has been operating on the premise that people – customers, employees, managers – make logical decisions. It’s time to abandon that assumption. | by Dan Ariely IN 2008, a massive earthquake reduced the financial world to rubble. Standing in the smoke and ash, Alan Greenspan, the former chairman of the U.S. Federal Reserve once hailed as “the greatest banker who ever lived,” confessed to Congress that he was “shocked” that the markets did not operate according to his lifelong expectations. He had “made a mistake in presuming that the self-interest of organizations, specifically banks and others, was such that they were best capable of protecting their own shareholders.” Jacob Thomas 78 Harvard Business Review | July–August 2009 | hbr.org hbr.org | July–August 2009 | Harvard Business Review 79 THE NEW ECONOMICS in the NEW WORLD. We are now paying a terrible price for our unblinking faith in the power of the invisible hand. We’re painfully blinking awake to the falsity of standard economic theory – that human beings are capable of always making rational decisions and that markets and institutions, in the aggregate, are healthily self-regulating. If assumptions about the way things are supposed to work have failed us in the hyperrational world of IN BRIEF Wall Street, what damage have they done in other institutions » The global economic...
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...dollar? hen it comes to making decisions in our lives, we think we're in control. We think we're making smart, rational choices. But are we? In a series o f illuminating, often surprising experi ments, M I T behavioral economist Dan Ariely refutes the common assumption that we behave in fundamentally rational ways. Blending everyday experience with ground breaking research, Ariely explains how expectations, emotions, social norms, and other invisible, seemingly illogical forces skew our reasoning abilities. N o t only do we make astonishingly simple mistakes every day, but we make the same types of mistakes, Ariely discovers. We consistently overpay, underestimate, and procrastinate. We fail to understand the profound effects of our emotions on what we want, and we overvalue what we already own. Yet these misguided behaviors are neither random nor senseless. They're systematic and predict able—making us predictably irrational. From drinking coffee to losing weight, from buying a car to choosing a romantic partner, Ariely explains how to break through these systematic patterns o f thought to make better decisions. Predictably Irrational will change the way we interact with the world—one small decision at a time. 0208 DAN ARIELY is the Alfred P. Sloan Professor o f Behavioral E c o n o m i...
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...Matthew Ellis Marketing Management Prof Pashkevich December 4, 2013 In the book predictably irrational, author Dan Ariely explains and demonstrates through witty experiments the fact that although we may think we are always making rational, well thought out decisions, there are actually hidden factors that cloud our ability to make the right decisions. He goes on to discuss how our emotions, social norms, and other hidden forces can change our rational intentions into extremely irrational Behaviors. The interesting part is that these irrational behaviors seem like the correct thing to do at the time and we use these past experiences to make future decisions, and therefore if we are not very careful we can fall into a never ending train of irrational decisions. Dan Ariely makes it quite apparent that this behavior takes place in everyday life even though we may not know it and hopes that his research can open our eyes to this fact and help us to avoid making irrational choices. He challenges the traditional assumption that the economic man uses rational thought to make decisions and challenges his readers to rethink the way they view the simple, everyday choices made on a daily basis. After reading the book, he makes it obvious that we all unknowingly act predictably irrational, however he gives us the tools to overcome this and think and behave in a rational manner. Some of the major points discussed in the book include the truth about making decisions based on comparisons...
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...Dan Ariely’s nonfiction book Predictably Irrational provides an exciting perspective on the field of behavioural economics. Ariely presents his own theories and research on various aspects of human behaviour. He explains the fundamental differences between traditional economics and behavioural economics in a way that is easy to understand. Traditional economics assumes that people are rational, whereas behavioural economics stresses that they are irrational. Ariely’s primary focus in the work is this debate between rationality and irrationality. The entire book is written in the first person using an informal tone. The casual tone can be justified as the book is aimed at the general public, as opposed to other researchers and academics. However, given the scientific nature of the information he is presenting, the informal tone also causes his findings to lack assertiveness. Keeping in theme with the informal tone, Ariely uses many anecdotes to convey his findings in a way that is relevant to, and can be understood by, the reader. The anecdotes help the reader grasp the concepts with greater ease, but the addition of personal stories further detracts from the assertiveness of his research. At the risk of losing some readers, it would have been preferred for Ariely to use a more formal approach to match the serious content of his work. Clearly, Ariely aimed to reach a broader range of readers who would not normally study behavioural economics. The book is geared mainly at an...
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...random manner. Show that regardless of how the numbers are positioned on the wheel, there are three adjacent numbers whose sum is at least 39. Adding all 25 inequalities, we find that 3∑_(i=1)^25▒xi = 3∑_(i=1)^25▒i < 25(39) = 975. But 3∑_(i=1)^25▒i=(25)(26)/2=325 gives us the contradiction that 988 = 3(325) < 975 7. A lumberjack has 4n + 110 logs in a pile consisting of n layers. Each layer has two more logs than the layer directly above it. If the top layer has six logs, how many layers are there? . . 18. Consider the following four equations: 1) 1 =1 2) 2 + 3 + 4 = 1 + 8 3) 5 + 6 + 7 + 8 + 9 = 8 + 27 4) 10 + 11 + 12 + 13 + 14 + 15 + 16 = 27 + 64 1) 1=1 n = 1 2) 2 + 3 + 4 = 1 + 8 n = 2 3) 5 + 6 + 7 + 8 + 9 = 8 + 27 n = 3 4) 10 + 11 + 12 + 13 + 14 + 15 + 16 = 27 + 64 n = 4 Formula (n-1)²+1, or n²-2n+1+1or n²-2n+2. n²-2n+2 Exercise 4,3 10 & 15 10. If n ∈ Z+, and n is odd, prove that 8|(n2 − 1). 15. Write each of the following (base-10) integers in base 2 and base 16. a)22 b) 527 c) 1234 d) 6923 22) base 2 10110 base 16 = 16 527 base 2 = 1000001111 base 16 = 20F 1234 base 2 = 10011010010 base 16 = 4D2 6923 base 2 = 1101100001011 base 16 = 1B0B Exercise 4.4 (1&14) 1. For each of the following pairs a, b ∈ Z+, determine gcd(a, b) and express it as a linear combination of a, b. 231, 1820 b) 1369, 2597 c) 2689, 4001 a) 231, 1820 a) 231, 1820 1820 = 7 (231) + 203 ...
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...Identifying Good or Bad Statements Anit Maharjan HUMN210-H5WW Meghan Roehll Franklin University 4th April, 2013 a. Nobody in the world today is really good. Yes, I have heard of good people, but not really good people. - Good statement. b. The world is not flat. Well, if you look at a map it is: - in what point of view - bad statement. c. I will need an extended period of laborious cogitation to assimilate the missive. This doesn't make any sense - bad statement. d. The number 2 is odd. Are we talking about an even number? I believe your confusion comes from the fact that 2 is a prime number, but it is still even. It is the only even number that is prime – false statement. e. If you believe in evolution, then your ancestors were filthy apes. There are two kinds of people in the world: - one is god prayer and the next is science believer. If you support the statement from the point of scientific theory of evolution by Darwin, then yes our ancestors are filthy apes, whereas if you think form the side of god’s prayer then the statement is false – good statement. f. Some swans are black. In this statement, I am not sure that some swans are black or not, all swans could be black or white – good statement. g. If you are a human, then you are a person. If you are an individual, then you are alive. Human is a person and of course the person becomes an individual and every individual breaths...
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...Year | Album | Peak chart positions | Sold | | | UK | AUS | GER | SWI | FRA | NZ | AUT | IRE | | 2000 | Bright Lights * Released: August 2000 * Label: Island | 1 | 3 | 2 | 2 | 6 | 3 | 10 | 1 | * UK: 3xPlatinum * AUS: Platinum * GER: Platinum * SWI: Platinum * FRA: Gold * NZ: Platinum * IRE: Platinum | 2001 | Dangerously In Love * Released: October 2001 * Label: Island | 1 | 1 | 1 | 1 | 3 | 1 | 6 | 1 | * UK: 4xPlatinum * AUS: Platinum * GER: Platinum * SWI: Platinum * FRA: Platinum * NZ: Platinum * AUT: Gold * IRE: Platinum | 2003 | All Night Long * Released: August 2003 * Label: Island | 1 | 6 | 5 | 5 | 10 | 6 | 14 | 1 | * UK: 2xPlatinum * AUS: Gold * GER: Gold * SWI: Gold * NZ: Gold * IRE: Platinum | 2004 | Troublemaker * Released: October 2004 * Label: Island | 3 | 12 | 10 | 10 | 14 | 12 | 18 | 3 | * UK: Platinum * IRE: Platinum | Year | Song | Peak chart positions | Sold | Album | | | UK | AUS | GER | SWI | FRA | NZ | AUT | IRE | | | 2000 | | 2 | 12 | 10 | 10 | 14 | 12 | 16 | 2 | * UK: Gold * AUS: Gold * NZ: Gold | | | | 1 | 6 | 4 | 4 | 8 | 6 | 10 | 1 | * UK: Platinum * AUS: Platinum * GER: Gold * SWI: Gold * NZ: Platinum | | 2001 | | 8 | 24 | 22 | 22 | 26 | 24 | 28 | 8 | * UK: Gold | | | | 12 | - | - | - | - | - | - | 12 | | | | | 1 | 8 | 6 | 6 | 10 | 8 | 12 | 1 | * UK: Platinum * AUS: Platinum * GER: Gold * SWI: Gold * NZ: Platinum...
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...receives it. And also some other facts which should be considered like life expectancy, importance, age etc. when deciding on whom to donate the heart to. He’s cause for damage to the heart was the steroids, of which he was unaware of the consequences of taking the steroids at the time he took so there wasn’t any sort of health irresponsibility known otherwise. His chances to live 10-15 more years are very high so it’s one point investing in him. He has a family to take care of, wife and the 3 kids who he has to support till they are on their feet and so forth. He also has been a good supporting father as he’s already being supporting their dreams career wise and the future. So my first choice with all confidence would be Jerry. The number 2 choice is Ozzie because as LONG as he does not get back on his old ways HE does hold out some hope on society as a whole as long he does NOT revert back and does good in society by helping out and he no longer does any drugs - he really can have a useful and a prosperous and productive life. His chances of living after a successful heart transplant are another 10 years but only if he stays off the drugs and which is not really guaranteed but if he does he can be a very good mentor and a coach or a guidance for teens with troubled life as they are on drugs already. Since Ozzie have seen the side effects and losses because of the drugs, he can let the teens know it too and...
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...MON TUE FEB WED THU FRI SAT SUN MON TUE MAR WED THU FRI SAT SUN MON TUE APR WED THU FRI SAT 1 2 3 4 5 6 8 9 10 11 12 13 15 16 17 18 19 20 22 23 24 25 26 27 29 30 31 2012 SUN MON TUE 7 14 21 28 5 6 7 12 13 14 19 20 21 26 27 28 SUN MON TUE 1 2 3 8 9 10 15 16 17 22 23 24 29 JUNE WED THU FRI 4 11 18 25 4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28 SUN MON TUE 1 2 3 8 9 10 15 16 17 22 23 24 29 30 31 FRI SAT 1 2 3 4 5 6 8 9 10 11 12 13 15 16 17 18 19 20 22 23 24 25 26 27 29 30 AUG SUN MON TUE WED THU FRI 7 14 21 28 MAY WED THU FRI SAT JULY SAT WED THU SAT 6 7 13 14 20 21 27 28 2012 1 2 3 4 5 8 9 10 11 12 15 16 17 18 19 22 23 24 25 26 29 30 31 SEPT WED THU FRI SAT 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 OCT SUN MON TUE WED THU 1 8 15 22 29 FRI 2 9 16 23 30 SAT 1 2 3 4 5 6 8 9 10 11 12 13 15 16 17 18 19 20 22 23 24 25 26 27 29 30 31 NOV SUN MON TUE WED THU FRI 7 14 21 28 5 6 7 12 13 14 19 20 21 26 27 28 SUN MON TUE 1 2 3 8 9 10 15 16 17 22 23 24 29 30 31 DEC WED THU FRI 4 11 18 25 SUN MON TUE SAT SAT 2 3 4 5 6 7 9 10 11 12 13 14 16 17 18 19 20 21 23 24 25 26 27 28 30 1 8 15 22 29 7 14 21 28 1 2 3 4 5 6 8 9 10 11 12 13 15 16 17 18 19 20 22 23 24 25 26 27 29 30 31 4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28 1 2 3 8 9 10 15 16 17 22 23 24 29 30 2 9 16 23 30 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 31 1 8 15 22 29...
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... 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 30 29 28 27 26 Dec (12)2011 Nov (11)2011 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 31 30 29 28 27 26 Jan (1)2012 Dec (12)2011 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 31 30 29 28 27 26 25 24 Feb (2)2012 Jan (1)2012 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 29 28 27 26 25 24 23 Mar (3)2012 Feb (2)2012 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 31 30 29 28 27 26 25 24 Apr (4)2012 Mar (3)2012 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 30 29 28 27 26 25 24 23 22 May (5)2012 Apr (4)2012 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 31 30 29 28 27 26 25 24 23 22 Jun (6)2012 May (5)2012 29 28 27...
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...Corridors of Transition between 12 Angry Men and 12 “I have always found that mercy bears richer fruits than strict justice”. Abraham Lincoln “The virtue of justice consists in moderation, as regulated by wisdom”. Aristotle ”Nobody gets justice. People only get good luck or bad luck”. Orson Welles Justice = mid-12c., "the exercise of authority in vindication of right by assigning reward or punishment;" also "quality of being fair and just," from Old French justice "justice, legal rights, jurisdiction" (11c.), from Latin iustitia "righteousness, equity," from iustus "upright, just" . The Old French word had widespread senses, including "uprightness, equity, vindication of right, court of justice, judge." The word began to be used in English c.1200 as a title for a judicial officer. Meaning "right order, equity" is late 14c. Justice of the peace first attested early 14c. In the Mercian hymns, Latin iustitia is glossed by Old English rehtwisnisse. To do justice to (someone or something) "render fully and fairly showing due appreciation" is from 1670s. This word, with such a strong connotation, influenced and formed the basis of many philosophical...
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...Week 2 Learning Team A Paper Parts 4 & 5 Levels of Measurement for Each Variable in the Study In the survey that Debbie Horner, the Human Resource manager, distributed to the company, there are different levels of data available for analysis. The question seeking information about the respondent’s gender is a nominal-level question. “The nominal level of measurement observations of a qualitative variable can only be classified and counted” (Lind, Marchal, & Wathen, p. 10, 2011). For analytical purposes the order in which the data is displayed makes no difference. The question regarding the division of work for the respondent, and the question regarding if the respondent is a member of management or supervision is also nominal. Also, the question pertaining to length is service is nominal because it only seeks one answer. The ten questions relating to how each respondent feels is interval-level data. The ten questions ask each respondent to rate his or her individual feelings on a scale of one to five. One is considered very negative and five is considered very positive. This is known as a Likert Scale. The Likert Scale is the most popular form of survey data collection because it is easy to assemble, the scale is more reliable, and produce more interval-level data (Cooper & Schindler, 2011). Data Coding After collecting the data, Sally, one the office support staff, began the task of coding the data. While some values were pre-determined other...
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...1 www.oldwitchcraft.com 2 www.oldwitchcraft.com 3 INTRODUCTION The science of numerology can be traced back thousands of years. The Chinese, Japanese, Greek, Hebrews, Egyptians, Phoenicians, early Christians, Mayans, and Incas all used some form of numerology to gain a deeper understanding of themselves and the universe. Numerology is perhaps the easiest of the occult arts to understand and use. All you need is the birth date and the complete name of an individual to unlock all of the secrets that the numbers hold. (Most authorities agree that the full birth name as recorded on your birth certificate is the name that must be used for all calculations involving name.) There are eleven numbers used in constructing Numerology charts. These numbers are 1, 2, 3, 4, 5, 6, 7, 8, 9, 11, and 22. Larger numbers that occur from adding the numbers in the complete birth date or from the values assigned to each name are reduced by adding the digits together until the sum achieved is one of the core numbers. Merely add the components of the larger number together (repeatedly, if necessary) until a single digit (or the "master" numbers 11 or 22) results. Each of these numbers represents different characteristics and expressions. Master numbers are the only exception to rule of reducing to the single digit. The master numbers 11 and 22 are intensified versions of the single digit number they replace (2 and 4). These numbers suggest a potential for a high degree of learning and/or achievement...
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