Housing Wealth: The Missing Piece of the Affordability EquationThe real estate market is soaring today. Residential home values are rising, and that’s a big win for homeowners. In 2020, there was
The Power Of Choice
Dated: February 23 2015
I read an interesting blog post this morning on why some of our choices are beyond our control, or more precisely 'Why our eyes make most of our decisions for us. A behavioral economist by the name of Dan Ariely states that, "Through a series of highly entertaining illustrations, Ariely demonstrates that human decision-making is wracked by cognitive illusions (in an analogy to optical illusions) that seriously impair our ability to make rational decisions." Here's an example he uses quite frequently:
Which one do you think is longer? If you said the left one then you're wrong. What I told you that both are the same length? Would you believe me, look at the picture below
Now look at the top picture again, ask yourself which on is longer.... Your brain probably still wants you to choose the one on the left. It's what Dan Ariely describes as cognitive limitations. "First, we can discover our illusions through careful study, but we cannot stop ourselves from experiencing them as such, even when we understand that they are illusions." (Ryan McGreal, www.raisethehammer.org)
It's interesting really to see how we can become too reliant on something as simple as our sight. To check out the rest of this article click here --------> Discovering and Overcoming Cognitive Illusions
A lot of our decisions are based solely on what we see instead using our rational side of the brain. Marketing campaigns are designed to get you to the store to buy soda and beer because they are so jammed full of visuals, it's hard to say no in those situations. By understanding and separating our wants from our needs we can greatly increase our quality of life, in many cases you get more joy in the long run knowing that while it looks bad now, the future is going to be brighter.
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