Misbehaving: The Making of Behavioral Economics

The fact that a loss hurts more than an equivalent gain gives pleasure is called loss aversion.

need to throw away everything we

Until very recently

the most sway

What was odd

I would never deny being lazy,

I kept plugging away at

Would it be fair for the pharmacist to auction off the medicine? Of course people hated the auction, but in this case they hated it even if the money went to charity

will be donated to UNICEF. That yielded an acceptable rating of 79%.

“It is incredibly important for any business, no matter how great the demand, not to charge a customer more than the good or service is worth—even if the customer is willing to pay more.”