Ian's list

Top picks from the web on money and your life, from ING economist Ian Bright – June 11, 2013

Get back what you give

Get back what you give

It makes sense that special attention from a waiter can yield larger tips from customers but what might not be so obvious is that it demonstrates the idea of “reciprocity”. Reciprocity (the inclination to respond to a kind action in like with your own) is one of six tactics of persuasion that expert Dr Robert Cialdini highlights in an interview with Barking Up The Wrong Tree. Cialdini, who wrote book Influence, goes into detail into the six steps his discovered while going “undercover” side-by-side the likes of car salesmen and others who know how to exert their influence.

Dear Dan

Dear Dan

As part of Ask Ariely, a column in the Wall Street Journal penned by academic and author Dan Ariely, readers can send in their queries on topics relating to behavioural economics. In the latest column, Ariely examines emotions at work when entrepreneurs come up with a new idea, get fixated and, sometimes, spend a lot of time and money pursuing it for little gain. Ariely writes that one factor is the Ikea effect - or the way people tend to “love even more what we have created”.

Naturally happy

Naturally happy

Certain people are hardwired to be happier than others, says an article in the New York Times. It examines the work of Sonja Lyubomirsky, a psychology academic and author The How of Happiness, that finds people tend to have a happiness set point. But the article notes that the way we behave might play a role too – particularly the way more positive individuals tend to be less likely to compare themselves to others.

EconomicsEmotionHappinessDan ariely

Ian Bright
Ian Bright

Senior economist at ING
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