The psychology of spending


(Change Works) #1

There’s an interesting talk on the psychology of spending here for anyone interested.


(Brenda Wong) #2

Oooooh! This looks like it would be great lunchtime listening, thanks @Anarchist. So much of how we view money as humans is strange and irrational!


(Jack) #3

That was really interesting. Not sure the card roulette is the best method for splitting bills - the hot coral Monzo card might draw the waiter’s eye too much when they’re picking!


(Change Works) #4

We’ll have to avoid the Monzo card - or blindfold the waiter. :sunglasses:


(Brenda Wong) #5

When I was living in Bangkok, we used to stack all of our phones on top of each other - it was to avoid us texting/being anti-social during group meals. First person to cave and answer a text paid the whole bill :money_with_wings:


(Change Works) #6

I’m sure I’d win that game. My phone is on silent 90% of the time :+1:


(Andy Barnes) #7

My phone is on silent and vibrate turned off 100% of the time. It’s now my watch buzzing that’s the problem!


(Oliver Mitchell) #8

Here’s a brilliant paper from Richard Thaler on precisely this topic. Long read, but an amazing summary of how and why people are irrational with their $$

https://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.108.6.1265