People do some of the most important things in life not for money, not for rational benefits, but for how it makes them feel.
As much as economists want us to believe that people are hyper-rational actors that consider all angles of every decision they make, they’re not. Most of the things we do are because of some feeling we have, not because we have weighed the rationality of a particular course. More often than not, we rationalize our decisions after they’ve been made.
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"Making money is art and working is art and good business is the best art." ~ Andy Warhol
A fantastic introduction to negotiation and learning how to get more as a way of life.
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We usually think about rationality as being sensible or reasonable. For economists, rationality means when you make a choice, you will choose the thing you like best. Economic rationality accepts that people will act in a relatively predictable way.
Economists use thi...
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