What People Do Is They Pay The

I Don't Want To Say That The Poor Are Inherently Cognitively Diminished, But At The End Of The Day Of Making Difficult, Tough Decisions, It's Very Hard To Have The Energy To Think About Things With The Right Mindset.

Big Data Is Like Teenage Sex: Everyone Talks About It, Nobody Really Knows How To Do It, Everyone Thinks Everyone Else Is Doing It, So Everyone Claims They Are Doing It.

The Idea That You Will Make The Right Decision Every Time Is Very Unlikely.

To Summarize, Using Money To Motivate People Can Be A Double-edged Sword. For Tasks That Require Cognitive Ability, Low To Moderate Performance-based Incentives Can Help. But When The Incentive Level Is Very High, It Can Command Too Much Attention And Thereby Distract The Person’s Mind With Thoughts About The Reward. This Can Create Stress And Ultimately Reduce The Level Of Performance.

We Can Think About How We Reduce The Pain In Paying. So, For Example, Credit Cards Are Wonderful Mechanisms To Reduce The Pain Of Paying. If You Go To A Restaurant And You Are Paying Cash, You Would Feel Much Worse Than If You Were Paying With Credit Card. Why? You Know The Price, There's No Surprise, But If You're Paying Cash, You Feel A Bit More Guilt.