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Perspective is everything
Presentation · March 2022
DOI: 10.13140/RG.2.2.21213.18404
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Aziza Bekchanova
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Perspective
is everything
by Rory Sutherland
OUR TEAM
U1911116 U1911118 U1911125
Abdurashidov Abdulvokhid Bekchanova Aziza Kamolova Khilola
Agenda
1 The power of reframing things
2 The power of renaming things
3 Reality vs Choice
4 Model of human psychology
5 The sweet ports ( Economics, Technology, Psychology)
6 Mechanistic ideas over Psychological ideas
7 Memory Vs. Experience: Happiness is Relative by Deniel Khanman
8 The Dilution Model
9 How psychology can revolutionize economics
10 Von Mises’s perspective view
The power of
reframing things
Small change,big difference
Antisocial person Philosopher
The power of
renaming things
What you call them actually affects
how you react to them, viscerally and morally
Concept 1 Concept 2
Paying 20,000 pounds in tax Paying 20,000 pounds in tax to
toward health – you are merely endow a hospital ward – you
feeling a mug. are a philanthropist
Creating Context
Things don't actually much depend on
what they really are, but on how we view them.
Concept 1 Concept 2
Having a son who is Having a son who is unemployed
unemployed in Manchester is in Thailand is viewed as quite an
viewed as quite embarrassing. accomplishment.
Reality vs Choice
“ The circumstances of our lives may actually matter less to our
happiness than the sense of control we feel over our lives ”
Experiment of Daniel Pink
Model of human
psychology
“A latticework on which to hang your ideas“
Charlie Munger
We don't have a really good model of human psychology
to put alongside models of engineering, of neoclassical
economics.
People who believed in psychological solutions, didn't
have a model. They didn't have a framework.
“ We should spend far less time looking into humanity's hidden depths,
and spend much more time exploring the hidden shallows ”
Nick Chater
The Eurostar spent six million
pounds to reduce the journey time
between Paris and London by about
40 minutes. For 0.01 percent of this
money, it could have put Wi-Fi on
the trains, which wouldn't have
reduced the duration of the journey,
but would have improved its
enjoyment and its usefulness far
more.
The sweet ports
Economics
Technology
Psychology
Mechanistic ideas over
Psychological ideas
Rational Emotionally driven
Numerical Non-numerical
Spreadsheet-driven Creative
“The nature of a wait is not just dependent on its numerical quality, its
duration, but on the level of uncertainty you experience during that wait ”
South Korea China
Memory Vs Experience
Happiness is Relative by Deniel Khanman
Experiencing self Remembering self
The fast, intuitive,
The slow, rational,
unconscious mode of
conscious mode of
thinking that operates in
thinking that tells the
the present moment,
story of our experience,
focusing on the quality of
how we think ABOUT
our experience IN our life –
our experience.
living life rather than
thinking about it.
Pixar “Insight Out”
The Dilution Model
The way how Additional Goals Undermine the Perceived
Effectiveness of a Common Means.
People believe something that only does one thing is
better at that thing than something that does that thing
and something else. It's an innate thing called “goal
dilution”.
Ayelet Fishbach
How psychology can revolutionize economics
One of the great mistakes of economics is it fails to understand that
what something is. Economists think that money is money. But what is
about the meaning of money?
Austrian school Economists believed that there was a discipline called
praxeology, which is a prior discipline to the study of economics.
Praxeology is the study of human choice, action and decision-
making.
"If economics isn't behavioral, I don't know what the hell is."
— Charlie Munger
Slightly changing the frame and
creating charitable yield
management, so the extra money
you get goes not to the bridge
company, it goes to charity. So, the
mental willingness to pay
completely changes.
Von Mises’s perspective view
He believes economics is just a subset of psychology.
He completely rejected the distinction the real value an dubious
value.
He referred to strange economists called the French physiocrats,
who believed that the only true value was what you extracted from
the land.
He said that modern economists make exactly the same mistake
with regard to advertising and marketing.
The power of context
One thing can creates the primary product, the thing
we think we're paying for, the other one creates a
context within which we can enjoy and appreciate that
product. And the idea that one of them should have
priority over the other is fundamentally wrong.
By choosing your frame of reference and perceived value,
you can completely change the actual value.
Quality
Our perception is leaky
Behavior in future
Memory
Perception
Thanks!
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