In Chapter 6 of Predictably Irrational, the author does an experiment involving basketball tickets. People have been waiting all night to get College Basketball tickets, however some people weren't able to. Others had their names put in lottery and won tickets for the game. Ariely and his friend began calling students asking those who didn't get a ticket how much would they pay. The average price was $170.
Then they called people would owned the tickets asking how much they would sell it for. The students demanded $2,400 for their ticket.
I get why somwone would ask for such a pricey amount, think about it if you waited in the snow, rain or cold for two days and won the ticket by luck alone, it would seem that that ticket would be worth alot of dough. It would be like selling a ticket to a concert that is sold out and has been for weeks. You feel as if you are the luckest guy in the world because you possess that special GOLDEN ticket, you have the upper hand and will wraggle as much money out of any person willinging to buy the ticket off of you.
Thursday, April 2, 2009
Under Pressure..
After reading chapter 6 , The Problem of Procrastination and Self Control, I understand the reasons why people are so vulnerable to the trap of waiting until the last minute. For some people it is difficult to focus when it they are working on a project due the next day. However for me i work very well under pressure. I think i see it as a challenge for myself and that is what modivates me.
But for some people waiting till the last minute isn't the greatest idea. Some may just collaspe under the pressure and begin making careless mistakes on their assignment. But for me i just guide my way through the procedure knowing that i cannot make any mistakes right now because there isn't any room for error. In the eleventh hour i have been able to produce an "A" paper and an amzing work of art.
For Dan's experiment it is very logical for the first class to wait for the most earliest date to start writing papers. Becasue logically they think by writing it early it is out of th e way and they don't have to think about it. For the other class that had a set deadline, it gave them an incentive to work harder and finish their papers during the time given to them they were able to pace themselves as if running for a marathon.
It would seem also that by given people a reason to go the doctor for a check up is good too. Having a patient deposit a $100 before their appointment, would probably modivate the person to get in the car and go to the doctor. But on the other hand, by having them pay more it would be seen as a forcful act. I mean what if something important came up and they could arrive on time. They wouldn't be given their $100 deposit back because they didn't make it on time. So it can be seen as a blessing and a curse.
But for some people waiting till the last minute isn't the greatest idea. Some may just collaspe under the pressure and begin making careless mistakes on their assignment. But for me i just guide my way through the procedure knowing that i cannot make any mistakes right now because there isn't any room for error. In the eleventh hour i have been able to produce an "A" paper and an amzing work of art.
For Dan's experiment it is very logical for the first class to wait for the most earliest date to start writing papers. Becasue logically they think by writing it early it is out of th e way and they don't have to think about it. For the other class that had a set deadline, it gave them an incentive to work harder and finish their papers during the time given to them they were able to pace themselves as if running for a marathon.
It would seem also that by given people a reason to go the doctor for a check up is good too. Having a patient deposit a $100 before their appointment, would probably modivate the person to get in the car and go to the doctor. But on the other hand, by having them pay more it would be seen as a forcful act. I mean what if something important came up and they could arrive on time. They wouldn't be given their $100 deposit back because they didn't make it on time. So it can be seen as a blessing and a curse.
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