Procrastination: Restricting Freedom is Effective
1. What group in Ariely’s classes did the best on their papers? (see the chapter on self-control and procrastination) Why did they do the best?
The group that did best was the third group. The results suggested that the best cure for procrastination is by restricting the students’ freedom. The best thing about it is that giving students a tool to pre-commit to deadlines helped them achieve good grades (Ariely, 2009). Additionally, the students understood their procrastinating behaviour, and when allowed to change, they took action, which helped improve their grades.
2. What is the endowment effect (the high price of ownership)? Why does it take place, according to Ariely?
Endowment effect state that we tend to overvalue things that we own. The seller of the property values it more than the buyer and thinks that the property is worth more than the offer given (Ariely, 2009). According to Ariely, the purpose of the endowment effect is due to the asymmetric loss aversion. We focus on what we are losing by selling something we own than on what we will make out of it.
3. What were the results of the door game? (Chapter on “Keeping Doors Open) Why are these results significant?
The participant’s frenzy to stop the doors from shutting resulted in making less money. When offered a clear goal and a simple set-up, we all are skilled at achieving our satisfaction. However, when faced with many options, we become irrational, wanting to keep all which obstruct us from the main objective (Ariely, 2009). Therefore, it is difficult to forego some options even though we know they are doing no good.
4.How do expectations change our behaviour? In your answer, explain the results of Ariely’s beer study with vinegar.
Expectations make people see similar results in different circumstances. When people from expectations in their minds, their opinions change. Hence, from the group tests of the bear, we can conclude that if people get first to have a taste of something before their expectations are set in, people can make better assessments of the situation (Ariely, 2009). Since expectations enable us to categorize information by predicting what to experience, they are known to shape stereotypes.
5.How does price influence the impact of placebos? Why does this happen?
The placebos’ price is changed to 10 cents; the pain relief is experienced by half of the participants. Hence, according to the study, the results indicated that the higher the pill price, the greater the effects (Ariely, 2009). Our irrational expectation is the cause of this because when the mind thinks that the pill relieves pain, it does. Thus, our irrational expectation affects our objective and subjective experience
6.According to Ariely, why is it that they only cheat a little bit when people can cheat? Use the film Dis(honesty):The Truth About Lies in your answer.
When people are allowed to cheat, they cheat a little bit. They know that cheating is not morally right. Hence cheating a little bit would cause no hard. After all, they are not entirely cheating. Their conscious would not allow them to cheat entirely as they could feel guilt compared to cheating a little to satisfy their desires.
The Endowment Effect: The High Price of Ownership
7. Again, use the film Dis(honesty): The Truth About Lies in this answer. What happened to the ch******ing when people were first asked to recite the Ten Commandments? What happened to the cheating? Why? Why don’t we have an actual honour code at Pace? It seems like it works in the research, and we know that people need constant reminders, to be honest.
When people were asked to recite the ten commandments and write as much as they could remember, the likelihood of cheating was reduced. Writing down the ten commandments evoked their morality and acknowledged that cheating is wrong. Therefore, to stop cheating, students have to be reminded about the moral codes that evoke them and stop them from cheating since guilt rises from knowing that it is wrong to cheat and that they are not supposed to cheat. A constant reminder of honesty works. However, people need constant reminders of honesty, which means that the honour code has to be repeated more often (Ariely, 2021). When removed from the ethical thought benchmark, people tend to remain dishonest.
8.In the film Dis(Honesty): The Truth About Lies, Walt talks about the financial fraudhe committed at MCI as simply moving numbers on a spreadsheet. How does DISTANCE FROM MONEY — and things like credit cards and electronic transactions — make it easier for us to misbehave financially?
When individuals have access to things like credit cards and electronic transactions, they get tempted by the enormous amount of money, making them form expectations of the money they could have if they had a share. Thus, access to these things makes people misbehave financially as they tend to want more (Ariely, 2021). Walt would not have been involved with financial fraud if he had no access to accounts because this means that he would have rationality, but, in this case, he acted irrationally since he had seen the figures and wanted to enjoy the money.
9. Why would we be generally happier if we wrote down our order for dinner (or beer) than announce it to the waiter?
When let’s say while eating with a group of friends, we tend to have the desire to please them; hence the choice of the food we order will be influenced by other people’s choices. Hence, since we pay a lot to dine outside, writing down our orders will enable us to eat the food we desire without being influenced by other people’s choices (Ariely, 2009). Therefore, having to order from writing a note is the cheapest and best way to increase the enjoyment we derive from these experiences.
10.Why are there free lunches in reality-based economics (behavioural) but not standard economics?
According to standard economics, decisions made by humans are informed rational, and the amount of happiness the decisions made are likely to produce. Thus, under these assumptions, everyone in the marketplace strives to optimize experiences and maximize profit. Therefore, it asserts that there are no free lunches because if there were any, someone would have found them and extracted all the benefits (Ariely, 2009). On the other hand, behavioural economics asserts that people, from their immediate environment, are susceptible to irrelevant influences, emotions, and irrationality. Therefore, if mistakes can be made, so make improvements by making new tools and strategies that will help us improve our well-being and make better decisions
Second Part
1. How did you like Predictability Irrational? Explain.
The Door Game: The Pitfalls of Too Many Options
Predictably irrational is quite educative as we get to learn why we behave and do certain things knowing fully well that are not acceptable. We make irrational decision more often because of the expectations in our minds.
“Dis(Honesty): The Truth about Lies”
1. What is the fudge factor?
The fudge factor is misbehaving and thinking of ourselves as good people.
1. Which story of lying was most compelling to you? Why?
The most compelling story to me was that of the cyclist, Joe, who was interested in cycling. This is because he got himself to win the competition by getting a drug.
1. When you lie, what happens to the probability of you lying again? Why?
When you lie once, the probability of lying again becomes bigger. When one lies in the beginning, there is a massive response from the brain in-terms of emotions (Ariely, 2021). When one lies again, the response from the brain reduces which makes a person lie again and again.
1. One of the issues that comes out in the film is that tiny interventions seem to work better in making people honest than extensive courses on morality. Why is this?
Course on morality doesn’t seem to have any effect behavior change, however, tiny interventions such as reminding people of the role of moral fiber does change how people behave.
1.. Behavioral Insights team in England. Added one line of text to the tax statement. What happened?
Adding one line of text to the tax dint seem that huge to a difference. But that line seem to be a nicer way to encourage people pay their taxes rather than just trust them. When the taxt was put forward, so much revenue was collected (Ariely, 2021).
1. What did they find out about Scandinavian countries and trust? What did they find out about the relationship between African and South American countries and trust? How important is social trust to economic growth?
In Scandinavian countries most people, more tan 60% can betrusted. While in sounth Africa and south American countries the people that can be trusted are below 10%. Social trust is important for a country as it increases the economic growth (Ariely, 2021).
1. In the video, Ariely states: “It is not about being bad, it is about being human” What does Ariely mean by this?
Human have the ability to cheat to feel good about themselves. That way we are not different we are the same. We cheat humans cheat to make ourselves feel better
1. How much cheating goes on at school in your opinion? Explain.
Cheating in school is enormous. Most especially when it comes to exams, and assignments. Since everyone likes getting good grades, they achieve that by opting to cheat.
- Do you think cheating has gone up with all classes moving to online with the coronavirus? Why or Why not?
Moving to online classes have increased cheating since the students are not being monitored. Therefore, it is difficult to take tiny interventions to stop them from cheating. Learning courses about morals wont change much of their behaviors.
How can we lessen cheating at school?
We can lessen cheating in schools by constantly reminding students of moral expectations by signing the honor code before taking the tests.
1. As classes move back tin-person, has cheating gone up due to the leastamount of cheatingduring the online period?
Cheating has gone up during the online period and moving back to in-person classes will require interventions and reminding students of the moral expectations to reduce the cheating.
References
Ariely, D. (2009). Predictably irrational : the hidden forces that shape our decisions. Harper Perennial.
Ariely, D. (2021, October). The Best Dis Honesty The Truth About Lies 2021 Full English. Www.youtube.com. https://www.youtube.com/watch?v=03ASTKevQuI
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