Two Worlds
Friendly, reciprocal exchanges, like helping a neighbor move, fall under this type of norm.
What are social norms?
The retirees' association wanted lawyers to help this group of people
Who are needy retirees?
The day care introduced a small fine for parents who did this.
What is picking up their children late?
Chapter 1 shows we judge value through this, not in absolute terms.
What is comparison or relativity?
Exchanges involving explicit prices, wages, and cost-benefit calculations fall under this type of norm.
What are market norms?
When asked to work for about $30 an hour, most lawyers did this.
What is refuse?
After the fine was introduced, lateness did this.
What is increase?
In the Economist subscription experiment, this useless third option steered people toward the print-and-web deal.
What is the decoy?
Ariely says that when these two types of norms collide, this one leaves quickly and rarely returns.
What are social norms?\
When asked to do the same work for free, most lawyers did this.
What is agree?
Parents began to see the fine as this instead of a punishment for breaking a social obligation.
What is a price they could pay?
In Chapter 2, people wrote down the last two digits of this number before bidding on products.
What is their Social Security number?
Offering to pay your mother-in-law for cooking Thanksgiving dinner is an example of this kind of mistake.
What is mixing social and market norms?
This shift in framing explains why the lawyers' response flipped.
What is a change from social norms to market norms?
When the fine was removed, lateness did this.
What is stay High?
This term describes how arbitrary first prices shape what we later think things are worth.
What is anchoring?