MichaelAaron Flicker
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Appearances Over Time
Podcast Appearances
And then you, a few weeks later, buy a $50 ticket to Michigan.
to a great ski weekend.
That's going to be an even more enjoyable ski weekend.
And then, oh no, you realize that they're both on the same weekend and you have to make a choice.
Should you go with the average $100 ski weekend or the much better $50 ski weekend?
54% of people choose the less enjoyable trip just because they had spent more on it.
So because you wanna be consistent with your past behavior, even though you know you're gonna like it less, you choose the more expensive option.
And that's just not logical.
It's just not rational.
And so it really challenges us to think,
are we being more emotionally driven in our actions?
Are we truly being more academically, logically focused?
And being able to spot those things when they're happening can make us smarter investors.
They can make us smarter humans.
So picking up on that thread, Shannon, of the idea that you're going to want to be consistent with your past behavior.
Once you become an Amazon Prime member, once you join any of these membership services, you're more likely to want to invest and use those services rather than be a switcher.
One study shows that Prime members spend $110 a month on their Prime buying versus just $38 a month of non-Prime members on their shopping on Amazon.
So there's a lot more bulk buying when you already have invested in the service or in the membership.
And it's beyond Amazon.
You see Uber has their Uber One product, $9.99 for $0 delivery freeze.