When we are bereft of something, that thing becomes more valuable to us.
You are willing to pay higher for a bottle of water when you are thirsty.
You are willing to pay higher when you experience a baneful illness.
You are willing to pay higher when you are craving for social status increase.
An item raises in perceived value when it can obviate your raging desire.
Our relationship with money is similar to our relationship with humans. We don’t hesitate to splurge...
Human bemoans inactions even if taking an action turns out to be erroneous. Yet it is...
If you are offered a difficult task that you must complete within 100 days, or else...
When companies give bonus based on meeting a target, employees try to lower the target requirements...