LecturerGood afternoon. Today we turn to behavioural economics, the study of why our spending is so often anything but rational, and how shops quietly use that against us.
LecturerIn essence, behavioural economics studies how people actually make decisions about money, which is rarely as logical as the old textbooks assumed.
LecturerOne of its most powerful ideas is loss aversion. We feel the pain of losing ten pounds far more keenly than the pleasure of gaining the very same ten.
LecturerShops understand our weaknesses perfectly. That is why they place cheap, tempting items right by the checkout, where you stand waiting with nothing else to do.
LecturerAnother classic trick is the anchoring effect. Show you a wildly expensive item first, and the next one suddenly seems a bargain by comparison, even when it isn't.
LecturerHow we pay matters enormously too. Paying by card feels almost painless, whereas handing over cash genuinely hurts, so we tend to spend more on a card.
VHP English Mở app luyện nghe →