Phrase by 'Sendhil Mullainathan'
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Marketing is selling an ad to a firm. So, in some sense, a lot of marketing is about convincing a CEO, 'This is a good ad campaign.' So, there is a little bit of slippage there. That's just a caveat. That's different from actually having an effective ad campaign.
Author: Sendhil Mullainathan - American EconomistJust , Good , Some , Marketing
Busy people all make the same mistake: they assume they are short on time, which of course, they are. But time is not their only scarce resource. They are also short on bandwidth. By bandwidth I mean basic cognitive resources - psychologists call them working memory and executive control - that we use in nearly every activity.
Author: Sendhil Mullainathan - American EconomistPeople , Time , Mistake , Memory
Maybe poverty is a special case of something else. That something else is 'scarcity,' and anyone who has the experience of 'having very little' experiences the same psychology.
Author: Sendhil Mullainathan - American EconomistSomething , Experience , Special , Poverty
It's hard to get people to empathize with the poor. You can get some people to sympathize with the poor, but to empathize is actually very hard, because most people are not poor. I realized that scarcity gives you a thread.
Author: Sendhil Mullainathan - American EconomistYou , People , Poor , Some People
The scarcity trap captures this notion we see again and again in many domains. When people have very little, they undertake behaviors that maintain or reinforce their future disadvantage. If you have very little, you often behave in such a way so that you'll have little in the future.
Author: Sendhil Mullainathan - American EconomistYou , People , Way , Future
One cost, for the lonely: If you want to be interesting, the one thing you shouldn't do is really focus on the fact that 'I want this person to like me.' That's going to make you very uninteresting. But the lonely, they just can't help but focus on that.
Author: Sendhil Mullainathan - American EconomistYou , Me , Focus , Person
If you have urgent current expenses to cover, then future priorities like college and retirement fall off your radar because they are simply less pressing. Scarcity of attention prevents us from seeing what's really important. The psychology of scarcity engrosses us in only our present needs.
Author: Sendhil Mullainathan - American EconomistYou , College , Future , Fall
The ability to save automatically is among the most powerful tools available to us.
Author: Sendhil Mullainathan - American EconomistAbility , Us , Powerful , Tools
It is safe to say that when people are short on cash, they might be less productive at work, be worse parents, and have less self-control.
Author: Sendhil Mullainathan - American EconomistPeople , Work , Short , Parents
Economists specialize in pointing out unpleasant trade-offs - a skill that is on full display in the health care debate. We want patients to receive the best care available. We also want consumers to pay less. And we don't want to bankrupt the government or private insurers. Something must give.
Author: Sendhil Mullainathan - American EconomistCare , Best , Health , Government
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I consider myself an inventor first and an entrepreneur second. In real life, my hero is Thomas Edison. He was a great inventor, but also an outstanding entrepreneur who was able to sell his inventions to the masses. He didn't just develop the light bulb; he invented the entire electric grid and power distribution system. (Aaron Patzer)Affiliated links: In case you want to support this project, you can do it by using these links. There will be no cost to you and they may be a little help to the creativity of this project.
