For all of us, it's very hard to think about money, and because of that, we need help. In the same way that for all of us, it is hard to eat well, and we need some help. The poor have a particular challenge, which is that their life is actually much more complex - and they're much more complex cognitively.
Dan ArielyThatโs a lesson we can all learn: the more we have, the more we want. And the only cure is to break the cycle of relativity.
Dan ArielyRainy day savings are incredibly important, because from time to time, bad things happen. And if you're not prepared for that, it's going to be really terrible.
Dan ArielyWhile we somehow understand revenge on an intuitive level between individuals, I do suspect that companies, assuming that people are rational, completely miss and underestimate the motivation people have for revenge.
Dan ArielyWe should teach the students, as well as executives, how to conduct experiments, how to examine data, and how to use these tools to make better decisions.
Dan ArielyWhen parents have college savings accounts for their kids, their kids show higher social and cognitive performance.
Dan ArielyInteresting thing that is happening in American society is that people are starting to talk about money. I don't know how you feel about this, but for a long time, nobody was talking about money. It was a secret. And it's kind of very interesting because we do lots of stuff to portray to people about how much money we have, the clothes we wear and the cars we have and the house - they all kind of depict to other people, signal how much money we make, but we don't talk about it specifically.
Dan Ariely