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Re: OT: Radio Shack




On 2017-06-21 23:35, The Real Bev wrote:
On 06/21/2017 01:09 PM, Wolf K. wrote:
On 2017-06-21 12:10, The Real Bev wrote:
[...]
I was always amazed that people would charge small amounts (under $5) on
their revolving charge and be paying interest on it for however long it
took to pay it off.  It was probably at that point that I learned how
stupid people can be.

Read Kahnemann on decision making. People underestimate a future harm
and over-estimate a present good. That's just the way the brain works.
You do it too, just not when it comes to $$$.

I would love to be able to do that, but I think I do just the opposite :-(

It's confusing. :-) People buy lottery tickets because the prospect of a win ("present good" is at most a few days away. The alternative is to put the the price of the ticket into savings, but the harm of not missing out on that ROI is years away. I must admit that despite knowing this, I still buy lottery tickets



--
Wolf K.
https://kirkwood40.blogspot.com
"No keyboard present. Press F1 to continue."
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