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Predictably irrational
1) the importance of having something for FREE when selling something.
2) the price we hear effects what we’re willing to pay. Known as arbitrary coherence. The basic idea of arbitrary coherence is this: Although initial prices can be "arbitrary," once those prices are established in our minds, they will shape not only present prices but also future ones (thus making them "coherent"). Eg new tv on market we kook for an anchor price. Released at £1200. That’s the anchor
3) when we own something we over value it. The seller feels all the things they could do with it. The buyer feels what they could do with the money.
4) experiences are shaped by our expectations. Coke Pepsi test. Or example if we have heard a movie is good we will enjoy it more.
5) social norms and market norms.
6 ) most people are dishonest. Get people thinking about honesty. When people thought about the 10 commandments.
7) acknowledge your weakness and set your deadlines. Also set yourself short term awards when reaching long term goals.
8) try not to keep your options open. The Chinese war where he burned the boats so they couldn’t retreat.
If you have your options open on two things close one of them so you can fully focus on one.
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